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zbojnik

Registered: Dec 2011
Posts: 112

08-02-12 04:51 PM

Hello. These questions are for sterling's level 2.

1. Destination - How do I know which one to choose and why would I choose one over the other?

2. SHRT / Sell / Buy - Whats the difference between SHORT and Sell? I was thinking that you click short when your opening a position and then click buy to close out but there is no 'LONG' box...Are these buttons to buy at the market or are they for limit? How do I place a limit order?

3. How do I rearrange the level 2 columns? Is it possible?

sterling level 2.png
This has been downloaded 50 time(s).

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clearinghouse

Registered: Aug 2010
Posts: 572

08-02-12 05:15 PM

Quote from zbojnik:

Hello. These questions are for sterling's level 2.

1. Destination - How do I know which one to choose and why would I choose one over the other?

2. SHRT / Sell / Buy - Whats the difference between SHORT and Sell? I was thinking that you click short when your opening a position and then click buy to close out but there is no 'LONG' box...Are these buttons to buy at the market or are they for limit? How do I place a limit order?

3. How do I rearrange the level 2 columns? Is it possible?

#1: Choosing the destination depends on your objectives. Do you want a big rebate? Do you want size priority? Do you want VWAP execution? Etc.

#2: Short is to initiate a short; sell is to close out a long position.

#3: Why would you want to? It's the standard view most traders tend to use. (But I don't think you can.)

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zbojnik

Registered: Dec 2011
Posts: 112

08-02-12 05:20 PM

Quote from clearinghouse:

#2: Short is to initiate a short; sell is to close out a long position.

Then what is to initiate a LONG? buy is to close out a short position? Im guessing these buttons are for market orders...

#3: Why would you want to? It's the standard view most traders tend to use. (But I don't think you can.)

Just personal preference.

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zbojnik

Registered: Dec 2011
Posts: 112

08-02-12 09:45 PM

Quote from clearinghouse:

#1: Choosing the destination depends on your objectives. Do you want a big rebate? Do you want size priority? Do you want VWAP execution? Etc.

Where can find out how much each order router pays/charges?

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buzzie77

Registered: Aug 2012
Posts: 65

08-03-12 07:31 PM

Does anyone know what the difference is between professional and non-professional data fees on Sterling? I am checking out a few firms and two of them are very expensive on Sterling as they said they are required to pay pro market data fees. What determines if a firm is accessed these fees or not? I don't want to be paying more then what I should have.

Thanks

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zbojnik

Registered: Dec 2011
Posts: 112

08-05-12 01:01 AM

I think if you work at a prop firm you are charged as a Pro.

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