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@josh is correct, I believe you are referring to a buy stop. To place a buy stop in MarketDelta Trader just right click above the best bid (in the open blue area). Scroll to 1:55 in the video to see where this is described.
@Silvester17 is spot on here. Just click the button located at top left of the price scale to hide or reveal the Footprint chart! Easy on, easy off.
If you have any questions about the products or services offered by MarketDelta, please send me a Private Message or use the futures.io " Ask Me Anything" thread.
1. Placing a limit order long ABOVE the current price. Some traders need this option (Yes, first price has to go up to a certain level and only there I want to go long on Limited order). Ninjatrader and Multicharts (and no doubt others as well) have this nice feature. Apparantly Market Delta Trader has this feature not (yet?).
2. Stopping footprint.exe. I know one can open/close the window that shows the footprint. But I want to save PC resources. I do not use the Footprint and noticed there is a footprint.exe running. So I wondered if I can setup the Market Delta trader in such a way that the footprint.exe is not running on my PC. I apologise if I did not ask my question more clear before. I intend to have many DOM's open at the same time - therefore my concern regarding PC resources.
Still the Market Delta trader looks very nice - especially the 5 leg OCO functionality !
You are still confused about order types, at least the terminology. A Buy Limit order says: "buy at X price or lower." So, if you enter a buy limit at X, where the best offer is sitting at X-5, then by definition, your order becomes marketable and will fill instantly, because X-5 is less than X. A google search on order types will give you this information to confirm for yourself. Again, a limit order long ABOVE the current price will fill immediately, and will match to the best current offer. This is how all markets will match your order.
It sounds like maybe you mean a stop-limit order. A buy stop limit order says: "when price X or greater trades, enter a limit to buy at offset X+Y." Its primary purpose is to act as a stop order, but can be used to limit slippage that might occur in a fast moving market environment. The upside is that you limit, eliminate, or even reverse slippage, but the downside is that you do not guarantee a fill, because you are placing a limit on the price you will accept. So, when the market is trading X-5 and then advances to trade X, your stop price, then your limit order is placed. If you have entered a zero or positive Y, you will likely get an immediate fill, for the same reasons mentioned in the first paragraph--that the limit is placed at or better than the best offer (assuming this is a normal liquid market not at a volatile news time). If Y is negative, the buy limit will be placed below X, and you can get an advantageous price better than your original stop, but of course the market must trade down to your price and there is greater risk of not getting a fill.
Now that the order types are more clearly explained, was the stop limit order the type you are referring to? While both order types get you long, the mechanism for doing so is completely different (almost opposite in fact) so the terms "Limit" and "Stop Limit" are not interchangeable any more than "Limit" and "Stop" are.
Josh, Thnaks for the clear explanation. I think I mean a Stop Limit Order.
Just to make sure I understand your terminology:
Please see attached file.
If price moves up to 1400 I want to enter the market with a long at 1400. Once hit the short order is canceled.
If price moves down to 1396,50, I want to enter the market with a short at 1396,50. Once hit the long order is canceled.
So is a Stop Limit Order (or similar funcionality as described here above) available in Market Delta Trader?
Actually what you are showing here is a standard OCO bracket with both orders being regular stop orders. A buy stop is above at 1400, and a sell stop is below at 1396.50. This is typically for opening or increasing a position. You can usually use a stop limit instead of a stop, which is what you are showing.
From the page here, look at the "ATOM" (automated trade management) part and you will see that MD supports OCO brackets. But I'm sure the MD guys can give you more thorough information. It looks like MD offers a free trial--the only way to know if you will like software is to try it, and do some discovery, so you will likely want to take advantage of that. Hope this helps!
I installed MDTrader on 64-bit PC and all seemed OK, but I can't create ATOM orders, when I press ATOM - nothing happens (no window appears for order setup).
Is it something that can be rectified or 64-bit are not supported?
If I want to use MD for charting and as order-frontend will I need to order (and pay) MD Chart and use MD Trader by the broker and pay the additional fee (USD 0,1 per contract and side)?
I don't think the problem has to do with 64-bit. Please click our live Support Chat available from the MarketDelta homepage and an support tech can take a look.
If you have any questions about the products or services offered by MarketDelta, please send me a Private Message or use the futures.io " Ask Me Anything" thread.
Yes, that is correct. Please note, some brokers include the 0,1 into the commission. Also, the 0,1 includes all the TT fees which normally are not included. This gives a static price ladder, single click order entry, an lots of other nice trading conveniences.
If you have any questions about the products or services offered by MarketDelta, please send me a Private Message or use the futures.io " Ask Me Anything" thread.