Smart Routing with Direct Access Trading platforms?

Discussion in 'Trading Software' started by DreamTrader, Dec 5, 2010.

  1. Hello. I understand that my questions are so naïve, but I want to thank everyone for reading and replying to my post.

    I want to be a technical trader who trades highly liquid US equities. My open positions may stay hours and I am not going to be a scalper. When I enter a position with limit or stop/limit orders, I do not care the routing as long as I get in the price I specified. While reading the user manual of Sterling Trader Pro, it seemed that I have to specify my destination of the stock that I want to take a position (such an ECN like BATS or ACRA). I have two questions related to this issue:

    1. Is it possible for me to enter “smart routing” (do not care where my trade will rout as long as I get the price I stated) with Sterling Trader Pro or any other Direct Access Trading platform (Laser?).
    2. What are potential risks using “smart routing”?

    Thank you again for reading and reply given my naïve this question may be!