I want to place live order faster after trading signal generated, any suggestions?

[Jtopaz]

I know automated trading is impossible.
I am a scalper. I want to place live order faster after trading signal generated, any suggestions?

"conditional orders" with thinkscript seems to be an alternative. What is the limitions?

I know some 3rd party software use thinkorswim alert+API to place order. It is a good solution too. (The drawback is you need to maintain 2 trading systems. A little bit risky)

Thanks

 

[scott69]

It probably has a lot to do with your screen setup. I have a separate monitor with charts, and a laptop with Active Trader. As the setup unfolds on the charts, I wait for the trigger, then I have my mouse over the active trader buy/sell buttons. Once the signal is generated, I wait for the next candle on the one minute to execute, then I click on buy/sell immediately. Trading NQ on TOS means trade is initiated immediately and filled within micro seconds. NQ is very quick with great fills. Not sure about equities, options, etc. That is why I trade NQ. An automated system would execute without question, and if the signal was premature or immediately reversed, you WOULD be in a trade that you probably didn't want to be in. .....Volatile, crazy moves this election week. Everyone be careful out there....

 

[codydog]

@Jtopaz @scott69

How much extra speed are you looking to pickup?

 

[Jtopaz]

@Jtopaz @scott69

How much extra speed are you looking to pickup?

I am looking for automated trading, however it is impossible.

"Conditions orders" state it be automatically placed or canceled when a study-based condition is fulfilled. Hopefully it can achieve semi-automated trading. I will give it a try afterward. Anyone have experience on this?

 

[Jtopaz]

It probably has a lot to do with your screen setup. I have a separate monitor with charts, and a laptop with Active Trader. As the setup unfolds on the charts, I wait for the trigger, then I have my mouse over the active trader buy/sell buttons. Once the signal is generated, I wait for the next candle on the one minute to execute, then I click on buy/sell immediately. Trading NQ on TOS means trade is initiated immediately and filled within micro seconds. NQ is very quick with great fills. Not sure about equities, options, etc. That is why I trade NQ. An automated system would execute without question, and if the signal was premature or immediately reversed, you WOULD be in a trade that you probably didn't want to be in. .....Volatile, crazy moves this election week. Everyone be careful out there....

It sounds interesting. I will try "Active Trader" afterward. I usually trade TQQQ & SQQQ (no commission fee & I am foreigner no need to concern income tax

 

[Ilya]

That has not been my experience, and I also use Active Trader. The fills on market orders are horrible as TD sells the order stream and the flash boyz are always there to make sure you get the worst possible price. However, if you put in conditional orders it is very hard to get fills unless the price goes at least 2 ticks above/below your fill.

 

[Jtopaz]

That has not been my experience, and I also use Active Trader. The fills on market orders are horrible as TD sells the order stream and the flash boyz are always there to make sure you get the worst possible price. However, if you put in conditional orders it is very hard to get fills unless the price goes at least 2 ticks above/below your fill.

I have the same problem too. I buy stock in extended hours. The order book show a good ask price. However I end up buy at a much higher price. I use interactivebroker can buy at much lower price.

 

[scott69]

Well, then I should consider myself fortunate that I get instantaneous execution and great fills. Good luck trading !! ☺