Is the best way to place a buy limit order by using DOM - ThinkOrSwim | futures io social day trading
futures io futures trading


Is the best way to place a buy limit order by using DOM
Updated: Views / Replies:3,702 / 13
Created: by shots fired Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Is the best way to place a buy limit order by using DOM

  #1 (permalink)
Trading for Fun
Boise, Idaho
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: AMP/CQG
Favorite Futures: es
 
Posts: 71 since Feb 2013
Thanks: 28 given, 10 received

Is the best way to place a buy limit order by using DOM

My friend says he uses NT and places limit orders with one right click, and doesn't use DOM. What I don't like about using DOM is that it is hard to quickly locate price because the DOM is always moving and there are so.many prices. For example let's say price breaks out of a range to the upside, and I want to go long on a slight pull back. My pullback price to go long is 1550.50. What is the easiest way to set a buy limit order or at 1550.50? Is there a one click, right click option like my friend said? Thanks.

Reply With Quote
 
  #2 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,821 received

Open the Trade tab on your chart (right hand side)
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

and then click the wrench to edit your preferences
add buy bid and sell ask to your set.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Hit Ok and you're good to go.
You can also add 'auto send' to bypass the order confirmation screen.
I have it here on the second level drop down that is usually hidden to save screen space
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Psychology > Strategy ≥ Money
Reply With Quote
 
  #3 (permalink)
Trading for Fun
Boise, Idaho
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: AMP/CQG
Favorite Futures: es
 
Posts: 71 since Feb 2013
Thanks: 28 given, 10 received


Thank u4 ur reply. I will explore ur directions when I get home. I am currently on the road and using my smart phone. My initial thought after reading ur reply, though, is do these instructions apply to place limit orders? Or are these instructions simply a fast way to place a market order? Just to reiterate I am looking for an alternative way to drop in a limit order to go long once price pulls back to my desired location. Currently I am using the DOM ladder to select the price. I hope I am using the correct terminology etc so as to not confuse everyone.

Reply With Quote
 
  #4 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,821 received

Buying the ask (join the bid button) will place a limit order 1 tick below market.
You can also right click the chart where you want to buy and then select "Buy"
on the pop up screen.

Psychology > Strategy ≥ Money
Reply With Quote
 
  #5 (permalink)
Patient Discipline
Bellingham, WA USA
 
Futures Experience: Beginner
Platform: NT
Broker/Data: Mirus (Broker), Continuum (Data), Dorman (Clearing)
Favorite Futures: Futures
 
aventeren's Avatar
 
Posts: 202 since Mar 2013
Thanks: 426 given, 191 received

Paper Versus Live Trading; Order Execution Tips; Delayed versus Real Time Pricing

Howdy; just so that you are aware, paper trading delays the Active Trader prices by some amount of time, while the chart data is real time. Therefore, paper trading with the Active Trader in TOS is kinda weird, as you can practice placing your order (including brackets if you wants), but I would NOT recommend simply clicking the "Join the Ask" of "Buy the Bid" etc buttons, because these buttons grab their price info from the Active Trader (delayed) prices rather than the real time chart prices. However, the preceding presupposes that you prefer to place your trade based on the chart (live) prices as opposed to the Active Trader (delayed) prices.

I've found that I have to quick check what the chart price is, then I enter the trade (I use a bracket) within Active Trader by simply clicking in the "Bid Size" (if you're going long) or the "Ask Size" (if you're going short) on the price that you want the trade to show up on the chart (real time pricing).

This can be a pain in the butt, because in order to "lock" the Active Trader from jumping around the delayed price, you have to hover over the Bid Size or Ask Size column to temporarily halt the Active Trader prices from jumping around on you. Again, this is a pain in the butt because the Active Trader is jumping around on delayed prices rather than the real time prices that you are likely going to be trying to practice on.

You can then manage your trades from either the chart or Active Trader, as your bracket orders (if you use them) will be executed in real time using the chart price data and not the Active Trader delayed data.

I just recently came up this learning curve, and hopefully the above will help the new TOSwimmers get more bang for their buck during paper trading.

Let me know if you have any questions...I can't say I'll have an answer, but if I don't know the answer to your question, maybe it will force me to continue learning about how to better use the damn platform.

Good luck!

Reply With Quote
 
  #6 (permalink)
Elite Member
San Francisco
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: es-mini
 
Posts: 1 since May 2011
Thanks: 5 given, 0 received

If you're just trading paper for the purpose of education, why not consider placing bracketed limit orders only. You're decisions are based on your methodology. I suggest that you put your trading method to the test by anticipating the expected, and place all orders using a bracketed order with a stop that is relevant to the set-up, and of course your risk tolerance.

If you need to get in no matter what, then the bid/ask buttons put you in the back of the line at the associated price. Resident (platform based) stops are executed as Market orders, which place you at the front of the line. Which is not always the most favorable fill.

When I paper trade 'On Demand' I'll take every set up that fits my criteria. No exceptions. With a big focus on what I do right. I often go back and repeat the time sequence, sometimes multiple times, paying no mind that the set up is now familiar. My goal is to trade my method consistently to the best of my ability. (Not to rack up imaginary paper money).

The saying, "If you see it, and your not in it - it's over" is usually the case.

Reply With Quote
 
  #7 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,821 received

@aventeren

are you using ondemand or are you logging into the platform under paper?
If the AT isn't matching the chart then you're set to the wrong contract in OnDemand.
If you are logged in the paper account, the AT and chart prices should match.
I've never seen them where they didn't match unless I was logged into my live
account and was in OnDemand and had the wrong contract.

Psychology > Strategy ≥ Money

Last edited by Massive l; April 19th, 2013 at 05:03 PM.
Reply With Quote
 
  #8 (permalink)
Trading for Fun
Boise, Idaho
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: AMP/CQG
Favorite Futures: es
 
Posts: 71 since Feb 2013
Thanks: 28 given, 10 received


Massive l View Post
@aventeren

are you using ondemand or are you logging into the platform under paper?
If the AT isn't matching the chart then you're set to the wrong contract in OnDemand.
If you are logged in the paper account, the AT and chart prices should match.
I've never seen them where they didn't match unless I was logged into my live
account and was in OnDemand and had the wrong contract.

I have recently switched to the Ninja Trader platform. I was using "On Demand" on ToS, not paper trading.
I will keep the ToS account open as well to see which simulator I like better. I like the fact that I download the data from NT, and can replay it on my lap top without an Internet connection.

Reply With Quote
 
  #9 (permalink)
Patient Discipline
Bellingham, WA USA
 
Futures Experience: Beginner
Platform: NT
Broker/Data: Mirus (Broker), Continuum (Data), Dorman (Clearing)
Favorite Futures: Futures
 
aventeren's Avatar
 
Posts: 202 since Mar 2013
Thanks: 426 given, 191 received


Massive l View Post
@aventeren

are you using ondemand or are you logging into the platform under paper?
If the AT isn't matching the chart then you're set to the wrong contract in OnDemand.
If you are logged in the paper account, the AT and chart prices should match.
I've never seen them where they didn't match unless I was logged into my live
account and was in OnDemand and had the wrong contract.

I was logging in under paper money. I did not use OnDemand. Everything I mentioned above was purely about paper versus live money.

Reply With Quote
 
  #10 (permalink)
Patient Discipline
Bellingham, WA USA
 
Futures Experience: Beginner
Platform: NT
Broker/Data: Mirus (Broker), Continuum (Data), Dorman (Clearing)
Favorite Futures: Futures
 
aventeren's Avatar
 
Posts: 202 since Mar 2013
Thanks: 426 given, 191 received



shots fired View Post
I have recently switched to the Ninja Trader platform. I was using "On Demand" on ToS, not paper trading.
I will keep the ToS account open as well to see which simulator I like better. I like the fact that I download the data from NT, and can replay it on my lap top without an Internet connection.

Funny; I, too, have moved from TOS to NinjaTrader. There is so much more support and robustness on NT relative to TOS (ie, futures.io (formerly BMT) traders using NT, futures.io (formerly BMT) traders building indicators for NT, futures.io (formerly BMT) users discussing NT functionality, etc), that I have been very pleased with the move. Plus, using NT you get better roundtrip future turns.

Reply With Quote

Reply



futures io > > > > Is the best way to place a buy limit order by using DOM

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
TradeStation - How to place an order of GTC duration veeyem TradeStation 5 September 9th, 2014 06:12 AM
Time of Order Submission Limit Calculation / Conditional / Price Improvement Order CoopGeko IB Trader Workstation 0 September 17th, 2012 10:15 PM
Best place to buy tick data gavetso Elite Automated NinjaTrader Trading 2 July 25th, 2012 01:52 PM
How to place Stop Limit order in MultiCharts Descretionary Trader? safin MultiCharts 1 October 14th, 2011 07:35 AM
Limit Order LukeGeniol Terms (Glossary) 0 June 29th, 2010 02:38 AM


All times are GMT -4. The time now is 05:52 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.14 seconds with 19 queries on phoenix via your IP 54.82.79.109