To facilitate and enhance your trading ProximaTrader provides the advanced opportunities considering order display and order entry options for:
- DOM display: Autocenter Option, Group Factor and Price Offset.
- Order entry: Time in Force.
DOM display advanced options:
To open the window with advanced DOM settings, right-click on the Dynamic DOM price ladder and select DOM settings.
The following window will appear:
The options available within DOM settings window:
Group Factor
It is the coefficient of grouping the records of the order book that enables you to consolidate the nearest quotes and display them as one line in the glass. Therefore, the line in the orderbook will display the aggregated amount of the orders for the price diapason in one line. The number defined in the field Group factor is the diapason for the orders aggregation.
To set Group factor:
- Type the group factor desired or customize it with the help of the arrows on the right.
- Click on Apply.
Tip: The Group Factor option is usually used by traders that work with significant sums of money. This way, they will submit a huge order in one click for the price diapason that supposedly will cover the whole volume of the order.
Example:
Group Factor option on (Group Factor = 5) Group Factor option off
Price Offset
Price offset refers to the number of price steps you would like to use to submit an order at the price better than best BID /ASK price.
To access Price Offset option right-click on the Fixed or Dynamic DOM price ladder and select DOM settings.
- Type the price steps number desired or customize it with the help of the arrows on the right.
- Click on Apply.
Autocenter Option (available for dynamic DOM only)
Before using theAutocenter Option it is highly recommended to read the Fixed and Dynamiс DOM difference.
- Enable the Autocenter option if you’d like to focus on price level that currently is in the viewable range on the price ladder. In this case you are able to scroll the prices up or down using your mouse. However, as soon as you stop scrolling, the DOM will return the price display to the inside market (the current price range) in the middle of the orderbook
- Disable the Autocenter option if you’d like to view a price level higher or lower than the current viewable range on the price ladder. In this case you are able to scroll the prices up or down using your mouse and the price ladder will remain within the price diapason you set.
Order entry advanced option:
Order entry advanced option is available for both DOM order submission and Basic order entry.
Time in Force
Time in force option is available in DOM Order submission and Basic order entry windows.
It is an optional setting for order submission.
It indicates how long an order will remain active that allows having more control over their investment strategies.
- GTC order, or GoodTillCancelled, remains effective indefinitely until fully executed unless cancellation is made by the trader. In ProximaTrader GTC order is set by default.
- FOK order,or FillOrKill, is an order that must be immediately filled entirety at the limit price or better. Otherwise, it will be totally cancelled. No partial fills are allowed. FOK orders are normally used by day traders who are hoping to scalp or take advantage of the opportunity in the market in short-term.
- IOC order, ImmediateOrCancel, that must be filled immediately at the limit price or better only. If the order cannot be filled immediately or fully, the unfilled portion will be cancelled. An IOCorder may be used when a large order is submitted to the market. To avoid having a large order filled at a wide variety of prices, an IOC automatically cancels any part of the order that does not fill immediately.
