Distracted by BookTrader?

Discussion in 'Trading Software' started by JangoFolly, Aug 3, 2006.

  1. I think IB's BookTrader is great (and other DOM ladders as well -- XTrader's, etc.). However, I think I'm getting distracted by it when my eyes should be focused solely on my charts and T&S.

    While I definitely glean some useful information from it about short-term market direction and improve my execution speed and price (sometimes) relative to other IB order interfaces, I'm coming to the conclusion that in bottom-line dollars my distraction from the charts is costing me more than I think I'm gaining on the order execution (yes, I realize I'm allowing myself to be distracted; BookTrader is not to blame). I typically do short-term momentum trades futures for 4-6 ticks (Euro and Yen futures mostly), so picking up a tick or two on the execution makes a difference.

    I'm curious whether any other short-term traders have come to this same conclusion, and whether they improved the situation (at the bottom line) by specifically minimizing their BookTrader eyeball time.

    Thank you.