First question is the use of a Stop Limit with the offset value setting.
If I enter a buy stop at, say 9101, and set that little dial to ‘2’, does that mean that I will only get filled up to 9103 or not at all? If so, does the offset really work during big moves?
Next set of questions involve what actually took place.
I placed a buy stop at 9108 with a ‘0’ setting in the offset at 8:29 AM and the employment #’s came out. My DOM levels kind of ‘separated’, which I expected, then I hear, “order filled”. At this point, DOM was not moving and charts were not updating.
So, I’m apparently filled but with a gap in the DOM levels and, unfortunately, I’m focused on the PNL and looking at the huge loss. Since, I was also monitoring the DIA on Quotetracker, I “knew” my trade was good so I stayed in.
Within about 15 seconds or so, the chart starts painting, DOM fills back in and I take my profit.
I’m using Comcast cable internet and a pretty fast PC with only NT on it. Quotetracker is on my laptop.
My questions are:
1. Did I just get lucky with that fill in that I used a ‘0’ setting in the offset?
2. Is that typical behavior for report trading on the YM or am I in need of some PC tweaking or ISP improvement?
3. Also, I’m guessing that, even though the DOM prices were gone, the fact that I heard my order was filled is what I should ALWAYS go by to tell me I’m in a position, correct?
4. When I checked out the chart later, my buy stop was basically at the beginning of the straight up move and I was never TRULY in a losing position [I think] even though the DOM showed a loss. When I first started using NT, I was under the assumption that the PNL is calculated from a last price in the DOM; however, in this instance, it appears that the PNL calculated from the best bid [many levels away]. Is that correct? Or did maybe some trades go off below my fill so fast that I just couldn’t tell?
I know many don’t trade reports nor recommend trading reports; but, since I plan to, I just want to make sure I have the right tools to do so. If most of you experience the same data disappearance during the fast moves, please chime in.
Thanks all,
V.
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