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.)
Then what is to initiate a LONG? buy is to close out a short position? Im guessing these buttons are for market orders... Just personal preference.
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
NASDAQ charges proptraders as a pro - since August 2011. NYSE .. from 1 of August 2012. BATS/EDGE - like non pro - but there is no diference between the price.
On Sterling the buy button counts for two conditions, "buy to open" and "buy to close/cover". If you try to hit the sell button to open instead of the short button it will reject you - the short button checks with your local risk manager (at the prop firm) to make sure that the shares are not on the hard to borrow list.