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Novice: request for help to understand an orders book
I'm watching some trading videos to learn. I have no problem with the theory of an orders book, but I have a problem to understand, to read the interface of the software used (Cf. screenshot; I think it's tradestation )
The 2 attached screenshots are 2 consecutive images in the video. Everything I don't understand, is annotated in the second image, namely:
a) why, when a second limit short order is booked, the painting of the cell in pink @1792.0 $ (which materialized the level, where the first order short had been booked, I imagine?), moves towards the cell @1792.4 $ (whereas the second short-booked order is @1792.6)?
What do you think this pink painted cell's location indicates?
b) at the same time, I see that the number of repurchase orders (I imagine; the number near the blue cell, at the bottom) @ 1791.7 is decremented from 3 to 2. There, I have no beginning of an explanation of the logic under -jacent. Are these orders entered via a strategy?
Does anyone succeed in understanding this short entry?
The pink highlighting on the price column represents the average fill price. They sold 1 at 1792.0 and a second at 1792.8 leaving an average price of 1792.4
Looks like that is Tradestation Futures Plus website app, I used it for a week before closing my account with them. What I did to better understand that DOM and the fills is change the colors.
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Believe the new "Tradestation Futures Plus" is a rebranded reduced feature ""TT NextGen" so everybody is right!
Believe @jokertrader has experience with this product.
Yes i had inquired about the Futures Plus product from Trade station and its a scaled down version of the new TT (and its web based). I was looking at the autospreader functionality and though it does exist, its extremely scaled down (but it might be working for index spreads where its 2 products)
The original question was answered : Where the TT DOM displays the average price if several trade at different prices have been taken
And why is the column (named "PIQ") decremented from 3 to 2 (next to the @1791.7$ cell, painted in sky blue, at the bottom), when the second limit order is booked: it's because the average price of his shorts being now better, so he has now less rebuy orders (3➔2) to make at the indicated bid level, in order to be at the break-even profit target?
this means at the moment he put in his "buy limit " order he was the 3rd in the queue (first in, first serve) because there were already 2 other buy limit orders before he put in his orders, if one of this two traders pulls his order, he is the second in the queue and in this case it ticks down from 3 to 2
