Sterling questions.

Discussion in 'Trading Software' started by zbojnik, Aug 2, 2012.

  1. 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?
  2. #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.)
  3. zbojnik


    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.
  4. zbojnik


    Where can find out how much each order router pays/charges?
  5. buzzie77


    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.

  6. zbojnik


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


    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.
  8. 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.
  9. dealmaker


    Sterling comes with a User Guide where all your questions can be answered.