DOM order entry - Stop Limit with "one-click" only  [SOLVED]

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JensOhle
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DOM order entry - Stop Limit with "one-click" only

Postby JensOhle » 03 Mar 2022

There are times (and/or markets) were liquidity is dismal and velocity is extraordinary. Like in these days, a regular limit order may result in serious slippage. Thus, at the moment me and my colleagues work with stop limit orders only (Yes, I/we know: there is no guaranty with market gaps, but for our entries/exits research shows that there is still a good benefit).

Two questions:
(1) Is there a regular way to enter a stop limit order with just one mouse click like for the regular limit order. Please see below for further explanations.
(2) If not is there a workaround to do so? Could a dedicated feature solving the issue be added to MC? Eg. holding an additional key on the keyboard is perfectly acceptable and should not take much development effort (I may be wrong).

Thank you! :)

Re (1): From what I know, the two quickest DOM possibilities are (a) mouse click right on the stop price in the DOM, followed by a subsequent left click on "stop limit order" and (b) dragging the "STL" icon (from "Place Order") to the stop price and letting it drop. While both ways may be sufficient for slow markets and/or larger distances (between ask/bid and entry prices), I like to share, why these are difficult for the entry technique I apply (very quick response needed): re (a) from the moment of the right click a price level, the window that opens covers the ask/bid prices in the DOM, so I can't judged the price action or the spread. This is especially true for buy orders (which are 90% of my trading). re (b) when prices jump through the price while I drop the icon, it initiates an order opposite of what I intended. This is actually very bad !!! To be precise: If one drags the STL icon on the "Buy" side of the DOM and let it drop while the price jumps through that level, one gets a Sell Stop Limit order - which can be triggered easily in noisy markets. Now you are short, albeit you wanted be long - does that make any sense? The order should be simply refused. The method I currently apply is to initiate a STL order "far away" from ask/bid and prepare to move it via "click+drop" - however, this is far from ideal as - during some market moves - it takes too much time and it also can be dangerous re market jumps.

PS I'm aware of this threat and my intention is far from creating a similar emotional discussion ;-) viewtopic.php?t=49506

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Kate MultiCharts
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Re: DOM order entry - Stop Limit with "one-click" only  [SOLVED]

Postby Kate MultiCharts » 04 Mar 2022

Hello JensOhle,

In the DOM window one can place a Stop-Limit order in 3 ways:
1. By mouse-click when holding CTRL+SHIFT
2. By dragging the STL (Stop Limit order) from the Place Order Menu
3. By using a custom keyboard shortcut (more info here)

The offset between the Stop and Limit price can be set in the confirmation dialog if confirmation is required. If it isn’t, the offset used for the last manual Stop-Limit order will be used (if there were no such manual orders, the offset will be 1pt).

You can also enable the Dynamic Price Scale option to stop the prices when the cursor is on the DOM window.

JensOhle
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Re: DOM order entry - Stop Limit with "one-click" only

Postby JensOhle » 08 Mar 2022

Thank you Kate :) ... the first one, was the one I needed ... I admit that I missed the "Keyboard Shortcuts" section in the File menu ... it's a pity that the short-cuts are not mentioned in the MC Wiki https://www.multicharts.com/trading-sof ... imit_Order - may be I missed it ... Anyway, thank you!


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