Limit Order @Price X  [SOLVED]

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bensat
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Limit Order @Price X

Postby bensat » 26 Feb 2016

Related to the following screenshot, how I would be able to buy 50 contracts (just an example) @9547 at limit and without a market order with one mouse click and without being forced to change the order size on a second mouse click and further confirmation ?

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Thank you.

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Ben

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Re: Limit Order @Price X

Postby arnie » 26 Feb 2016

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Re: Limit Order @Price X

Postby bensat » 26 Feb 2016

Well Arnie, thank you. I know what a 'limit' order is and what it is supposed to do.

Have you tried to enter a buy-limit order above the best ask and a sell-limit order below the best bid on one single mouse click and without further 'confirmation' ? If you can do it, please could you describe how you do it. I would appreciate it and be very thankful.

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Ben

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Re: Limit Order @Price X

Postby arnie » 26 Feb 2016

Maybe I'm missing something but you cannot put a limit order to buy above the market, only below it.

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Re: Limit Order @Price X

Postby janus » 26 Feb 2016

What you are asking for is a stop-limit order, which is available as the green STL button. In your case you place it above the market and it becomes a buy stop-limit order. Once the market reaches that price the order becomes a limit order to buy at the limit price or better.

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Re: Limit Order @Price X

Postby bensat » 27 Feb 2016

WHAT ??????

If I want to bid above the best offer/ask or to offer below the best bid at a specific limit why should I wait to see the market running to this limit and then getting stopped in at this level and maybe without any fill because the fill who activated my stop order already bought/sold all contracts at my limit level and above/below?

Your answer can't be serious.

So the current setup is distracting me on setting a limit order above/below the best bid/ask quickly (with a single mouse click). Where is the difference between setting a buy limit below & at the best bid or above best ask ?

Unfortunately there is a a possibility to set these limit orders with 2 more mouse-clicks and error potential with a <right> mouse-click at the limit you want your order to be set in and choosing the right order action out of 4 menu entries with different order setups. Hell ......

This is not just wrong to be able to set an order above bid and below ask within 3 mouse-clicks (one right click , two left click) with serious potential of mistakes while entering the same type of order but buying below bid and selling above ask is done with one <SINGLE> mouse click. Further buying above best ask price and selling below best bid price has a much much more urgent character then buying below or at best bid and selling above or at best offer. Therefore the current behavior is just wrong. There should be no difference by setting a <LIMIT> buy/sell order depending on the limit.

If you want to set a stop order at a limit, it should be just set with a right mouse-click at the limit you choose and should not be the same process like entering a limit order. With setting a stop order via right mouse-click, there can be a menu to chosse for stop limit or stop market. No problem on that.

With this kind of setup MC users, trading with the current manual order entry setup have a disadvantage to any other competitors, set up with normal order entry setup related to time for putting in an order and potential mistakes because of a 3 mouse click process with potential mistakes by the user forced by the order entry setup due to menu & process design.

Regards.

Ben

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Re: Limit Order @Price X

Postby janus » 27 Feb 2016

You asked how to place a buy-limit order above the best ask, and I said you can do that with a stop-limit buy order. What part of the answer don't you understand? If it's something else you require please clearly specify your requirements.

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Re: Limit Order @Price X

Postby bensat » 28 Feb 2016

You clearly do not understand. Let's make it clear with the example in the entry post.

If someone would like to buy 50 contracts @9547, in a normal behaving DOM setup, you would just enter a normal <LIMIT> order the way you would enter a <LIMIT> order below or at the best bid. You would be filled with 5 contracts @9545.5, 10 contracts @9546, 9 contracts @9546,5 and 12 contracts @9547 and staying bid for the remaining 14 contracts @9547.

With your suggestion just to enter a <STOP LIMIT> order and in worst case you won't get any fill after the order was activate by paying someone @9547 or above. The maximum contracts you could buy is 11 at @9547. Not 12, because your order won't be activated till someone pays @9547 with one contract ... etc etc. If someone pays up to @9547.5 you will stay @9547 without any fill while 36 contracts were available up to and @9547.

I hope you understood the order management design and behavior now.

As I figured out how to set this kind of order, my problem is that why the same kind of <LIMIT> order has to be set differently depending on the place the order has to be set. Btw, setting an order via PL in a mechanical system doesn't differ the same way. There you can set a buy limit order above the current best ask.

IT IS A NORMAL <LIMIT> ORDER !!! NOTHING ELSE OR DIFFERENT !!! Any <LIMIT> order should be set at the side of the book you want to set it with one left mouse-click. Why adding a buy <LIMIT> order below and at the best ask with one left-mouse-click and above the best ask with 3 mouse-clicks (1 right and 2 left)? The <STOP> orders should be set with one right mouse-click. Again, a buy <LIMIT> order above best offer or a sell <LIMIT> order below best bid has a much more urgent character as a <LIMIT> order at or below/above bid/ask. As a trader and software engineer for trading applications you should internalize it.

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Ben

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Re: Limit Order @Price X

Postby mickatrade » 28 Feb 2016

Hello,
You can create a hotkey to buy @ ask + 4ticks.
It should work as you want.
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Re: Limit Order @Price X

Postby janus » 28 Feb 2016

You clearly do not understand. Let's make it clear with the example in the entry post.
Your example shows you have a limited understanding of how a stop-limit order works. Using your scenario you would enter a stop-limit buy order above the market with the stop set at 9547 and the limit set at say 9549. Once the market hits the stop at 9547 the order translates to a limit buy order at 9549. Assuming the market is liquid enough you will have all your fills at no more than 9549. This sort of strategy is typically used by traders who want to catch a break-out but don't want to be caught out with bad fills in a highly volatile runaway market.

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Re: Limit Order @Price X

Postby bensat » 01 Mar 2016

Hello,
You can create a hotkey to buy @ ask + 4ticks.
It should work as you want.
Not a solution !!! It's just wrong implemented and does not solve the software design issue. Btw, for +5 ticks I make a new Hotkey ? For -5 ticks another hotkey ? LoL ....

Thank you.

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Ben

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Re: Limit Order @Price X

Postby bensat » 01 Mar 2016

You clearly do not understand. Let's make it clear with the example in the entry post.
Your example shows you have a limited understanding of how a stop-limit order works. Using your scenario you would enter a stop-limit buy order above the market with the stop set at 9547 and the limit set at say 9549. Once the market hits the stop at 9547 the order translates to a limit buy order at 9549. Assuming the market is liquid enough you will have all your fills at no more than 9549. This sort of strategy is typically used by traders who want to catch a break-out but don't want to be caught out with bad fills in a highly volatile runaway market.
I am seriously trying to stay polite.

Again, lets stay with the example and as simple as that, you just do not have a clue about the issue and you, plus the members who thanked you for your answer, do not realize the disadvantages how the <LIMIT> order above or below the market in the DOM is designed and implemented.

First of all, a <LIMIT> order is a <LIMIT> order and has nothing to do with a <STOP LIMIT> order.

Second of all, the <STOP LIMIT> will be activated after (!!!!) the price or the price below/above depending, where the <STOP LIMIT> was set, was hit/paid. This means, that compared to a normal, simple & common <LIMIT> order, you will miss contracts/fills. In worst case you won't get any fill !!! Did you just realize it ??? As long as the price/time priority is valid, with a <STOP LIMIT> order you are always behind the market. If a trader wants to be bid/offer above/below the current market, he wants to be first and acting, not responding. Just realize it.

Third of all why you should use a simple one left mouse click on one level to set a <LIMIT> order and 1 level higher/lower a 3 mouse click procedure for the same goal ?

You can argue as you want, it's just wrong and the implementation/design in the DOM is wrong.

I can't express enough the big lough and amusement my colleagues have with this kind of conversation and argumentation about a clear issue. it's just embarrassing.

Thank you.

Regards.

Ben

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Re: Limit Order @Price X

Postby mickatrade » 01 Mar 2016

Hello,
You can create a hotkey to buy @ ask + 4ticks.
It should work as you want.
Not a solution !!! It's just wrong implemented and does not solve the software design issue. Btw, for +5 ticks I make a new Hotkey ? For -5 ticks another hotkey ? LoL ....

Thank you.

Regards.

Ben
We're just trying to help you, if you want professionnal answers you can contact the live chat or open a feature request in PM ...
BTW, not being polite won't solve the issue ...

Mickatrade

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Re: Limit Order @Price X

Postby janus » 01 Mar 2016

Again, lets stay with the example and as simple as that, you just do not have a clue about the issue and you, plus the members who thanked you for your answer, do not realize the disadvantages how the <LIMIT> order above or below the market in the DOM is designed and implemented.

First of all, a <LIMIT> order is a <LIMIT> order and has nothing to do with a <STOP LIMIT> order.
False. A stop-limit order invokes a normal limit order after the stop is triggered. As for the limitations of the limit order that's all true. However, you are missing the point. Please read and digest the rest of this before freaking out. I think and hope we can come to some sort of conclusion. I'm here to help as best I can.
Second of all, the <STOP LIMIT> will be activated after (!!!!) the price or the price below/above depending, where the <STOP LIMIT> was set, was hit/paid.
Yes. A stop-limit order will be activated after the stop price is hit. That's how it's supposed to work.
This means, that compared to a normal, simple & common <LIMIT> order, you will miss contracts/fills. In worst case you won't get any fill !!! Did you just realize it ??? As long as the price/time priority is valid, with a <STOP LIMIT> order you are always behind the market. If a trader wants to be bid/offer above/below the current market, he wants to be first and acting, not responding. Just realize it.
Now I think I understand what you are getting at. Please correct me if I'm wrong. You want a normal buy limit order placed above the market and pending in the exchange queue but not acted upon until the market gets there. That way you are in front of other orders of any kind including any "at market" orders placed after your limit order. First of all even to have such an order in play regardless of when it's filled, a stop-limit order type must be applied (please don't freak out, at least not yet :-). However, I don't know the order flow process well enough to tell you when your order will be filled. I suspect it will depend on the exchange rules. I have read somewhere that stop-limit orders at the same price as a stop order will get priority to be filled even if it was placed after the stop order. However, I am unsure as to the accuracy of this claim, how other order types are handled and whether all exchanges behave the same way. Ask MC support or your broker.

What I do know is this. As I explained before when the stop-limit order is triggered, it is converted to a normal limit order. So if your original order was to buy 50 contracts at a stop-limit of x (ie, both stop and limit prices are the same) then when the market gets to x all 50 of your contracts will be filled provided there are at least 50 available for sale. Perhaps you will miss out on some or all if someone dumps an "at market" order virtually at the same time as when your stop is hit. But as I alluded to above it depends on the exchange rules. It may be possible your order takes priority over all other orders delivered to the exchange after yours. Even if there is a way to guarantee your placement in the queue to get the first bite, there is still no guarantee you will get all your contracts filled at the specified level. Hopefully I don't have to explain why. That's why it's more appropriate to set the limit price slightly above the stop price for a buy to give it more of a chance to get all 50 contracts. The larger the gap the greater the certainty of a total fill but the greater the chance the average fill is not as good as you would like it to be. It's a balance, and that's up to the trader to decided what's appropriate given the market conditions. The bottom line is you can't buy what's not there.
Third of all why you should use a simple one left mouse click on one level to set a <LIMIT> order and 1 level higher/lower a 3 mouse click procedure for the same goal ?
You are doing it all wrong - that's the other problem! Have your even tried to use the stop-limit order in DOM? You RIGHT click (not left click) on the level you want the stop applied and select stop,limit from the list and a window appears so you can either adjust the stop or the limit or both. Simple. It's a combined stop and limit order - a special type of order. It's not two separate concurrent orders as you think.
I actually would prefer a set of extra columns on either side of the DOM so I can click the stop and limit levels for a stop-limit order. That way I can visualize where both are set at the same time, and move them around at will rather than deleting it off the DOM and re-entering a new stop-limit order (or do it on IB's screen, which is very simple as both the stop and limit levels are displayed side-by-side).
You can argue as you want, it's just wrong and the implementation/design in the DOM is wrong.
Yes the way you were thinking of implementing is wrong; as two separate orders. The stop-limit combined order type I've been explaining to you is the correct one. Also, it's not up to DOM to sort out the order placement priority at the exchange if that's your concern. That's up to the broker to sort out depending on the order type and whether the exchange supports it.
I can't express enough the big lough and amusement my colleagues have with this kind of conversation and argumentation about a clear issue. it's just embarrassing.
Sometimes it's hard to be on the same page using a forum. I am willing to go though it a few more times if we are still not on the same page. I think I do understand your concern but if I am still off then please illustrate clearly with an example, step-by step as if it's a live trade. That has to include current prices, bids, ask, what you want to achieve and when. Hope I've been of some help.

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Re: Limit Order @Price X

Postby ABC » 02 Mar 2016

Now I think I understand what you are getting at. Please correct me if I'm wrong. You want a normal buy limit order placed above the market and pending in the exchange queue but not acted upon until the market gets there.
From what I understand from the examples (and I could be wrong here of course), he wants to start buying now and is okay with sweeping the book up to his limit price. He doesn't want to wait until the stop price is hit with the buying, but he doesn't want to enter with a market order as this will result in a worse average price.

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ABC

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

If that is the case (I did think of that too) then all one has to do is set say the stop-limit BUY order such that the stop is at or below the best ask price and the limit is set to the worst price that is acceptable (as explained earlier). A simpler order type for this scenario is a market-to-limit order but MC does not support this. A market-to-limit BUY order for example is sent in as a market order to buy at the current best ask price. If the entire order does not immediately execute at the market price, the remainder of the order is re-submitted as a limit BUY order with the limit price set to the price at which the market order portion of the order executed. However, I feel a stop-limit BUY order is better since it's more flexible - it can achieve the same result and it has the added advantage of allowing one to set the buy limit slightly above the best ask price to maximize the chances of having all contracts filled. Similar to above I don't know if either order takes precedence over orders submitted by other traders. They might but it needs to be checked as to how the exchange handles them, if at all.

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Re: Limit Order @Price X

Postby ABC » 02 Mar 2016

I think so, too. The current DOM design in MC doesn't allow to do it with just one click (afaik), which is what OP had in mind.
Edit: Turns out the current DOM design seems to allow to do it with just one click.

Regards,

ABC
Last edited by ABC on 02 Mar 2016, edited 1 time in total.

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

I just checked and as it turns out there is a much simpler way if that's the intention. To buy at the best ask price with some room to allow for a complete fill up to an acceptable price level all one has to do is RIGHT click at a suitable limit price on the left side (blue column) of the DOM and select buy limit order. Not sure though that's what the OP is looking for. arnie stated you cannot put a limit order to buy above the market, only below it. Actually you can - I just tried it. It will execute at market up to the limit price.

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

I went back to the original post:
Related to the following screenshot, how I would be able to buy 50 contracts (just an example) @9547 at limit and without a market order with one mouse click and without being forced to change the order size on a second mouse click and further confirmation ?
As depicted in the screenshot at the original post the best ask price is 9545.5 yet the question was how to buy 50 contracts @9547 at limit without a market order. Since the implication here is the trader does not want to place a market order then that rules out using a simple buy limit order as I stated above since it would immediately turn into a market order. So I go back to my original suggestion and say the only way to place a buy limit order @9547, which is above the best ask price without being a market order is to use a stop-limit order using a RIGHT click at the 9547 level in the blue column (which sets the STOP trigger) and then set the limit in the confirmation window to the same value as the stop. There is simply no other way. BTW, once you do set the LIMIT to the same level as the STOP, all subsequent requests automatically set the LIMIT = STOP, which is handy as you don't need to keep adjusting it after the first request is made. In fact a dummy trade can be sent and canceled to set this up for the real trade next time. So it all become one click from then on (apart from the volume which has to be set up as per usual).
Last edited by janus on 02 Mar 2016, edited 1 time in total.

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Re: Limit Order @Price X

Postby TJ » 02 Mar 2016

...but the first issue is to understand the differences between the terminologies:

LIMIT
STOP
STOP-LIMIT

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

...but the first issue is to understand the differences between the terminologies:

LIMIT
STOP
STOP-LIMIT
Who doesn't?

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Re: Limit Order @Price X

Postby ABC » 02 Mar 2016

If someone would like to buy 50 contracts @9547, in a normal behaving DOM setup, you would just enter a normal <LIMIT> order the way you would enter a <LIMIT> order below or at the best bid. You would be filled with 5 contracts @9545.5, 10 contracts @9546, 9 contracts @9546,5 and 12 contracts @9547 and staying bid for the remaining 14 contracts @9547.
My impression that it might be the way I wrote was from the example bensat gave (viewtopic.php?p=119973#p119973). I think the confusion comes from "buy 50 contracts @9547 (sic!)", which in the limit order definition is @ 9547 or better and not necessarily all at that price.
The problem with a market order would be that you could be filled above 9547 of course.

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ABC
Last edited by ABC on 02 Mar 2016, edited 1 time in total.

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

OK, then what's the problem with just using a normal buy limit order? It all can be done with one click now. I must be thick.

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Re: Limit Order @Price X

Postby ABC » 02 Mar 2016

OK, then what's the problem with just using a normal buy limit order? It all can be done with one click now. I must be thick.
True, I just checked that, too. It will work fine when you just click at the price on the buy side, but when you check limit (under place order) it will ask me if I want to place a stop order at that price.
So I guess I am lost then and don't know what OP wants, but hopefully it was to his and his colleagues amusement at least ;).

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Re: Limit Order @Price X

Postby bensat » 02 Mar 2016

From what I understand from the examples (and I could be wrong here of course), he wants to start buying now and is okay with sweeping the book up to his limit price. He doesn't want to wait until the stop price is hit with the buying, but he doesn't want to enter with a market order as this will result in a worse average price.

Regards,
ABC
I would like to invite you to watch the vid I made and everything is clear : https://vimeo.com/157510052

He's the only one who gets it. I and others still don't know why it is not clear. If you give an order to buy 50 contracts at 15.000 <LIMIT>, no broker or inhouse executor will raise his eyebrows because something is unclear. This order says buy me everything available and up to 50 contracts with a limit of 15.000. I want to buy everything at 15.000 and cheaper. This does not say I want to buy only 50 contracts just and only at 15.000.

If you make a single left mouse click with 50 contracts at 15.000 or above the best ask price, MC wont send and set a <LIMIT> order at 15.000 for 50 contracts. It will send and set a <STOP MARKET> order at 15.000. You have to make a two-step process to set (first right and then left to choose the order right out of the menu, which is not just kind of dangerous but much more ...) for the same order, but different level. This does not have to be fixed via feature request, it is a software & process design mistake. Surprisingly, all correct order styles shown in the menu after the right click are <STOP ORDERS> except thsi wrong <LIMIT> order. And this should be correct, as <STOP MARKET> AND <STOP LIMIT> orders should be set with right mouse click only. Further why there has to be a menu entry for a <MARKET> order, if there is already a huge button for market orders. Who makes a two-step mouse process for a <MARKET> order if there is already a button well placed in the DOM. It is just a possible source/cause for mistakes while chossing the wrong menu entry.

I tested 11 DOM's in 2 days from different software vendors and the MC DOM is the only one with this wrong solution.

There is no need for further discussion until somebody can comprehensible explain why this solution/design for a simple <LIMIT> order above/below the market was used.

Regards.

Ben


EDIT: And there is no order conversion from <LIMIT> to <MARKET> until a certain level and back to <LIMIT> etc etc. This is just a simple order to orderbook process and so on. Don't confuse you and yourself with very false statements.

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

If you make a single left mouse click with 50 contracts at 15.000 or above the best ask price, MC wont send and set a <LIMIT> order at 15.000 for 50 contracts. It will send and set a <STOP MARKET> order at 15.000.
Yes a single left click will send a STOP order. How many times do I have to say this. Use a single RIGHT click to send a LIMIT order. OK, it's not really a single click as you have to select from the list the buy limit order. So it's two clicks. Is this all you are worrying about? Surely not!

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Re: Limit Order @Price X

Postby janus » 02 Mar 2016

Just by accident I found another way to send a buy limit order. With the SHIFT key depressed you LEFT click on the buy side. A window pops up for confirmation but that can be skipped on subsequent orders by "Do not ask me again" tick box. Is this adequate for your requirements?

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Re: Limit Order @Price X

Postby mickatrade » 02 Mar 2016

Have a look to the limit order chapter :

https://www.multicharts.com/trading-sof ... _%28DOM%29
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Re: Limit Order @Price X

Postby bensat » 03 Mar 2016

If you make a single left mouse click with 50 contracts at 15.000 or above the best ask price, MC wont send and set a <LIMIT> order at 15.000 for 50 contracts. It will send and set a <STOP MARKET> order at 15.000.
Yes a single left click will send a STOP order. How many times do I have to say this. Use a single RIGHT click to send a LIMIT order. OK, it's not really a single click as you have to select from the list the buy limit order. So it's two clicks. Is this all you are worrying about? Surely not!
You don't need to tell me as I declared it myself as a huge problem and unusual behavior and therefore opened the thread. At first you never got to the point of the problem in the whole thread and constantly offered me an <STOP LIMIT> solution. ABC had to help you to understand a simple straight forward order type, action and process.

Yes it is worrying, as it is a totally unusual process to set a simple <LIMIT> order totally different, more complicated and error sensitive just one level to another !!! Do you realize that ? Do you realize that this design is a disadvantage in time at order placement and risk by forcing into possible order placement errors ?

You should really ask yourself why my software is forcing more to a 2 mouse click for buying 2 contracts at 15.000 while 1 contract offered @14.995 and 1 contract offered @15.000 and just 1 mouse click by going 14.995 bid ? That is hilarious !!!

You could already raise the question why this behavior is intentional, that you are just allowed to go to the market, but not allowed to go above/below to it quicker than others? Why TsSupport designed it the way it is? I'am not going deeper into this question as I still have faith in 'things' in this world. But an official answer or comment about the whole issue from TsSupport is still to come.

Regards.

Ben

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Re: Limit Order @Price X

Postby janus » 03 Mar 2016

You should really ask yourself why my software is forcing more to a 2 mouse click for buying 2 contracts at 15.000 while 1 contract offered @14.995 and 1 contract offered @15.000 and just 1 mouse click by going 14.995 bid ? That is hilarious !!!
So my latest suggestion to use SHIFT+LEFT click to submit a buy limit order as I discussed earlier is not suitable? It's a one mouse click operation.

Sorry I didn't understand your query from the start but my English is not perfect.

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Re: Limit Order @Price X  [SOLVED]

Postby bensat » 05 Mar 2016

Janus, I see you do not understand the issue and it is fine.

Just imagine someone clicks in the book 2-3 ticks above/below the market just to be sure to get a decent fill without using <MARKET> order or a <STOP ....> order ?

Just imagine you want to buy/ sell from the best ask or best bid? You click in the book, the market changed , in the time you clicked in and the order was set, one tick so best offer is now just the second offer or the best bid is now just the second bid. Oh shit, you entered a <STOP MARKET> order. Now the market changes back and booooom you get executed SOMEWHERE. I simulated his several times. From <LIMIT> order to <MARKET> order .... holy f .... If you bring this bug into the world, TsSupport will be surely happy.

There are more book scenarios where accidents can happen because of the buggy design. But not everyone can discover design bugs. That's fine.

Oh, ok you could argue the trader can always use [SHIFT]-Left MOUSE CLICK entering an order. Well fine if you want that. It is still a 2-step process and more time consuming.

I take the advise and leave it like it is here. Thank you for taking part in this.

regards.

Ben

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Re: Limit Order @Price X

Postby ABC » 05 Mar 2016

Ben,

I wrote it further above in the thread and I only tested it briefly last week, but I seem to get exactly the order you are looking for with one click when I click above the current price on the buy side.
However I have to uncheck the "LMT" order under Place Order, which seems a bit counter-intuitive.
When I have LMT checked the one click will place a stop limit order, without it, it placed a limit order above the price. Image

This was tested on a simulated account and you obviously see no changes in the book - the order was just fully filled at the current ask.

Regards,
ABC

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Re: Limit Order @Price X

Postby janus » 05 Mar 2016

Janus, I see you do not understand the issue and it is fine.
I see now what you are getting at. It's a timing issue especially for very fast moving markets such that when you are about to place a specific order type through DOM the order type ends up changing. The SHIFT+LEFT mouse click resolves this. Yes it's a two-step process but more importantly it's still a one-mouse click operation, which is the relevant part of the solution. The first step of using the SHIFT key introduces no delay if you are already prepared to "pounce" on the market. However, for convenience (and avoid finger stress keeping the SHIFT key depressed for hours at a time) you can use the workaround I've outlined below, or you could request MC to add an option on the DOM window so that the SHIFT key is effectively "locked down" thus doing away for the need to depress the SHIFT key manually. I would add to the request that a visual aid be incorporated to emphasize the order submission type to avoid confusion and accidentally sending the wrong order type without confirmation. For example the blue and red colors of the DOM could be changed to some other color combination whenever the "SHIFT" key is effectively in the locked mode position, or perhaps a text message appears at the sides of the columns. In fact I would suggest that should happen now whenever the SHIFT key is manually depressed to make it as obvious as possible that a change in order type is in effect. The actual method to toggle between the two modes is fairly obvious - a button somewhere in the DOM window. I'm sure MC would take these suggestions into serious consideration. While they are at it, perhaps they should have other relevant order types that can be configured for the one-mouse click operation. That can be achieved either by having other buttons or a drop down list to choose from.

As a workaround you can use the sticky-key option in Windows. You do that by depressing the SHIFT key five times (if the feature is enabled - if not go to
Control Panel -> Ease of Access Center -> Make the keyboard easier to use -> Set up Sticky Keys). Once the sticky-key option is enabled you depress the SHIFT key one more time and that effectively locks it in place even after you release it. You can use the one-mouse click operation to submit your LIMIT order without the need to keep depressing physically the SHIFT key all the time. However, this is a one time operation. Once an order is submitted, the SHIFT key is recognized to be in the up position and so to submit another LIMIT order you need to first depress the SHIFT key again momentarily before using the mouse again. A small but perhaps annoying and forgetful step. That's why I prefer the other suggestions above for MC to incorporate in a future release. It's clean, effective and intuitive.

All the best.

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Re: Limit Order @Price X

Postby bensat » 07 Mar 2016

Ben,

I wrote it further above in the thread and I only tested it briefly last week, but I seem to get exactly the order you are looking for with one click when I click above the current price on the buy side.
However I have to uncheck the "LMT" order under Place Order, which seems a bit counter-intuitive.
When I have LMT checked the one click will place a stop limit order, without it, it placed a limit order above the price. Image

This was tested on a simulated account and you obviously see no changes in the book - the order was just fully filled at the current ask.
ABC, hey many thanks. Unfortunately I already tested it as well and it is not working on my side. To prove it I made a short vid. I am interested what makes it working on your side. No matter what the experience that the selection of the <LIMIT> button disappears after every single click does help at some point, but surely doesn't erase the design flaw.

Video Link >> https://vimeo.com/157995522

I will make a feature request that <LIMIT> orders will be set with single left click on all levels, <STOP MARKET> orders will be set with a single right click. If someone needs a <STOP LIMIT> order he can choose it via button and just single click like <STOP MARKET>. There is no need for an extra <LIMIT> & <STOP> order button as there is no need for a menu showing up by choosing a right click. This space could be used for far more useful things.

There are so many things which would make trading with the MC DOM much more easier, efficient and less vulnerable for trader mistakes.

Regards

Ben

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Re: Limit Order @Price X

Postby janus » 07 Mar 2016

Ben, you have to drag the LMT icon over to the level where you want the LIMIT order placed, not just select it and click on the level. It matters not which icon is selected prior to the single-click on the DOM to enter an order as they are not linked in any way. They are two separate features.

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Re: Limit Order @Price X

Postby bensat » 08 Mar 2016

Janus, I appreciate your efforts.

To drag something in a DOM gives me acute abdominal pain, except vertical moving of already set orders. This is even more worse !!! Just imagine you lose the mouse on the wrong side, instead of buying you lose it over the sell row, or you lose it on a wrong level. Further 'dragging' is much slower then a simple click and more sensitive for mistakes.

As I noted to ABC, that the button changes back into inactive after a click/drag is a huge disadvantage. If you have to drag 2 times in a row, I am sure I could make 10 single clicks ... at least.

So overall it is just another example and a new argument for the overall badly functional designed DOM .

Regards

Ben

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Re: Limit Order @Price X

Postby janus » 08 Mar 2016

Janus, I appreciate your efforts.

To drag something in a DOM gives me acute abdominal pain, except vertical moving of already set orders.
I agree, which is why I didn't mentioned it before as I knew of this method. It's a clumsy way to place orders, especially if you are in a hurry. That's why I much prefer the other approach I mentioned; SHIFT+LEFT click. It's the best you can do with the current version of MC. I've outlined how to avoid holding down continuously the SHIFT key but I feel that's of little or no benefit in practice. I've experimented with the SHIFT+LEFT operation and I find it works very well. As soon as I decide to place a LIMIT order anywhere on the DOM I can simultaneously have the SHIFT key depressed while I'm moving the mouse pointer to the appropriate level. What I like to see added though is some clear indication that the SHIFT key is depressed to add some confidence that I am about to place the right sort of order to avoid disasters whenever I disable the confirmation step. The last thing I want to see is that I've submitted an order only to find it's the wrong type and I have to cancel it if it's not too late and then submit the correct one. As outlined before the color combination of the DOM's buy and sell columns could change whenever the SHIFT key is depressed. In addition to that I like to see the option to toggle between the two order types and avoid using the SHIFT key altogether.


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