prospreads.com

[R.Charnock]

The volume on the indices, for example the FTSE Z future, is it the internal Prospreads volume or the volume from the real Z future at the LIFFE exchange? My guess it is the former.

There's nothing to stop them providing prices based on the real market, but I can't see how the actual fills will be the same because clients aren't participating in it. 'Prospreads volume' would be both useless and meaningless, I reckon.

 

[ProSpreads]

Yes that is definitely a difference if that is the case. If so, it probably explains how they can offer mini-lots. Anyway it don't bother me much, just as long as DMA functionality is carried out. I am myself only interested in mini-lots and don't expect 100% DMA.

Hi

Sorry for the delayed reply..busy day ! I will try and answer all the recent queries in one go..
ProSpreads does sometimes hedge strategically, which means in some on the more liquid contracts it may not back to back every spread bet order directly into the exchange (i.e. auto-hedge) Otherwise all other orders will be 100% DMA.
So that ProSpreads can strategically hedge and offer mini lots to customers, we have written a set of rules that mimic DMA trading functionality, i.e. the ability to join the bid/offer, level 2 trading on the Quick Trade ladder etc, with the same execution speeds as normal lot size execution.
Mini lot spreads for all non FX contracts are the same as the full lot spreads however FX mini lots carry a larger spread than the normal FX contracts.

Simon

 

[isatrader]

Hi Simon, I managed to get on a PC as I wanted to test the platform out and am trying to get to grips with it. When you place an buy stop order on the ladder, is there a way to then place the stop loss and target at the same time? Or do I have to wait until the order price is filled?

A feature that Ninjatrader has which would be very useful on your price ladder would be the ATM strategy where you can set multiple targets and stop losses.

 

[R.Charnock]

Hi Simon, I managed to get on a PC as I wanted to test the platform out and am trying to get to grips with it. When you place an buy stop order on the ladder, is there a way to then place the stop loss and target at the same time? Or do I have to wait until the order price is filled?

A feature that Ninjatrader has which would be very useful on your price ladder would be the ATM strategy where you can set multiple targets and stop losses.

Yeah, a lot of people are looking for NT spreadbet.

 

[ProSpreads]

Hi Simon, I managed to get on a PC as I wanted to test the platform out and am trying to get to grips with it. When you place an buy stop order on the ladder, is there a way to then place the stop loss and target at the same time? Or do I have to wait until the order price is filled?

A feature that Ninjatrader has which would be very useful on your price ladder would be the ATM strategy where you can set multiple targets and stop losses.

'If done' orders are in development at the moment, which I believe is what you need. So 'if' your buy stop (to open) is filled, a held target & stop order is placed automatically. We obviously have OCO orders which allow a profit traget reached to cancel the stop or vice versa.

The team on the dealing desk can give you a one on one demo of the platform, if that would help.

Simon

 

[gle101]

'If done' orders are in development at the moment, which I believe is what you need. So 'if' your buy stop (to open) is filled, a held target & stop order is placed automatically. We obviously have OCO orders which allow a profit traget reached to cancel the stop or vice versa.

The team on the dealing desk can give you a one on one demo of the platform, if that would help.

Simon

Yes I am looking forward to quite a few improvements when it comes to basic risk management features. Anyway would you say Simon that the demo account (mini-lots) resembles that of the live account platform in terms of speed? The demo account is lightning fast I must say. My guess you will have a lot more to keep you occupied on this thread compared to CS these days.

 

[isatrader]

'If done' orders are in development at the moment, which I believe is what you need. So 'if' your buy stop (to open) is filled, a held target & stop order is placed automatically. We obviously have OCO orders which allow a profit target reached to cancel the stop or vice versa.

The team on the dealing desk can give you a one on one demo of the platform, if that would help.

Simon

That sounds exactly the feature I need. Have you got a rough idea of when you think this feature will be available?

I don't think I need a one to one as my needs are very basic. I'm only planning on trading one instrument (ES or YM), and then I just need to be able to place a buy stop order and then set the stop loss and target at the same time.

One more question about the ladder. I've started to get to grips with the ladder, but I can't work out how to make the manual target and stop orders on the ladder into OCO orders. i.e I use a buy stop order on the ladder to get into a trade, and then once it's filled I left click on the red Offer column at the price I want to set a target, and then I right click at the price I want on the central grey Price column to set my stop loss order. However, when my targets reached the stop loss is left open and vice versa. So is there a way to do an OCO order on the ladder or do I have to use the order ticket?

 

[rawrschach]

Any plans on making a static ladder? Pretty useless as it is now.

 

[isatrader]

Any plans on making a static ladder? Pretty useless as it is now.

I thought that as well, but I found an alternative that helps in the Options menu. Go to the "Quick Trade" tab in the "Options" menu (see attached) and click on the Sticky mouse button.

That really helped I found as the mouse pointer moves with the price you are hovering over, so even though the ladders moving you are still on the same price that you wanted. An option to freeze the ladder would be better though, but this helps at least.

 

[rawrschach]

Helps with order entry but in terms of watching the ladder to get a feel for the price action etc it still sucks

 

[ProSpreads]

Yes I am looking forward to quite a few improvements when it comes to basic risk management features. Anyway would you say Simon that the demo account (mini-lots) resembles that of the live account platform in terms of speed? The demo account is lightning fast I must say. My guess you will have a lot more to keep you occupied on this thread compared to CS these days.

Hi

Just so you know, this a different Simon to the Simon that responds to posts on the Capital Spreads thread..
The speed on the demo or trainer platform should be representative of the speed on a live account.

 

[ProSpreads]

One more question about the ladder. I've started to get to grips with the ladder, but I can't work out how to make the manual target and stop orders on the ladder into OCO orders. i.e I use a buy stop order on the ladder to get into a trade, and then once it's filled I left click on the red Offer column at the price I want to set a target, and then I right click at the price I want on the central grey Price column to set my stop loss order. However, when my targets reached the stop loss is left open and vice versa. So is there a way to do an OCO order on the ladder or do I have to use the order ticket?[/QUOTE]

Unfortunatly the only way to place a OCO order is using the trading ticket on the ladder the orders will not link, we do have a number of videos on the website which can explain how if you are unsure or we could arrange for a 1-2-1 demo to go through any questions you may have, please feel free to drop us a mail or give us a call 02033706222 [email protected]

Videos are located here
Free Trading Platform Video Tutorials|ProSpreads

 

[rawrschach]

Does the ladder show liquidity from other other prospread traders too? i.e. is that why it's so much more liquid than the underlying and more levels of depth?

 

[ProSpreads]

Does the ladder show liquidity from other other prospread traders too? i.e. is that why it's so much more liquid than the underlying and more levels of depth?

Yes you will see liquidity from other PS clients, with regards to volumes if you are looking at the Mini futures the volumes will be 10 times the amount of the full size which will be the same as the underlying market

 

[rawrschach]

Thanks. Any chance of an update to include a static ladder as an option? Dont mind paying a licence fee like you do with Ninja.

Your current one gives me a headache.

 

[gle101]

Hi

Just so you know, this a different Simon to the Simon that responds to posts on the Capital Spreads thread..
The speed on the demo or trainer platform should be representative of the speed on a live account.

Really, sorry for the mistaken identity.
You seem to be just as fast as CS Simon answering our questions, thanks a lot.

 

[gle101]

Thanks. Any chance of an update to include a static ladder as an option? Dont mind paying a licence fee like you do with Ninja.

Your current one gives me a headache.

If you haven't done it already try chancing the colors. But yes I agree, a static ladder would be better.

 

[ProSpreads]

If you haven't done it already try chancing the colors. But yes I agree, a static ladder would be better.

We have looked at licensing the static ladder functionality before; however some of our more active day traders were reluctant to pay the extra. It seems using different colours and the sticky mouse satisfies most of our clients.

 

[rawrschach]

Ok thanks.

From you platform manual:

"Right Click on the grey column to place stop orders."

I assume this just trades you out at market?

How can you place buy/sell stops above/below the market? I know you can set limits but will these execute if the market passes them by? e.g. DMA w/ TT SL order above market will join the bid if not executed at that price.


Also, do stops get deleted overnight like they would on TT? I hate waking up at stupid times to put stops back in.

 

[ProSpreads]

Ok thanks.

From you platform manual:
"Right Click on the grey column to place stop orders."
I assume this just trades you out at market?
How can you place buy/sell stops above/below the market? I know you can set limits but will these execute if the market passes them by? e.g. DMA w/ TT SL order above market will join the bid if not executed at that price.
Also, do stops get deleted overnight like they would on TT? I hate waking up at stupid times to put stops back in.

To place a stop on the ladder you go in the grey area (where prices are) and right click above the market price for a buy stop and below for a sell when market touches the price they will become a market order and take the next price,

Yes you can place orders as GTC (good till cancel) or GTD (good till date), go into the 'tools' then 'options' and click on the box which says GTC/GTD