I Need Your Tip: Laser or Sterling??

N

NY19DoG

My firm doesnt have Lightspeed which I heard is the best.
Only Laser or Sterling!
They recommending starting with Laser but I need to know which is best.
As far as someone told me. Laser doesn't have stop loss limit orders.
Is that true and if yea. Can I have it with sterling ?
Thanks a lot
 
This has always been a big problem with prop trading: support for stop orders.
When I was using the old Laser 8 years ago, it had no support for stops at all. That was a huge turn-off for me.
I later learned there are 3 different types of stop handling methods:
1) exchange-based
2) server-side
3) local machine
Of course, the first is the best. With the second, if the server freezes or crashes, you are SOL. Same with the last one. Best to have the order parked on the exchange where it is safe and more quickly executed.

Prop firms have always shied away from stop orders because of one thing: liability. As you are aware, stop orders can be filled "miles" from your intended price. As you alluded, stop limit orders can somewhat reduce that risk of an awful fill. However, if you are in a position already, and using a stop order to get out, you probably want to get filled ASAP no matter what.
 
Yes I meant Stop Limit Orders to protect a position.
If you have let's sat 2-10 positions at one time,
You can't really control all of them so the Stop Limit orders will be acting as A FLOOR and help to control LOSES or Execute at Price you indicate as not following through trade.

What kind of order do you use on the exchange using LASER?


--Im not going to use much the charts on LASER or Sterling,
Both will act as my Execution Software .. Any other words on Both?
 
Yes, but be careful: a STOP LIMIT order on a close of an existing position is not assured to prevent a loss.
If the price goes beyond the LIMIT price established for said order, your losses continue to mount.
 
I think the answer is:
it doesn't matter.
The speed of the feed and orders is INDEPENDENT of the software and likely affected by the server and the internet connection.
Both programs are written in C++, so hard to believe the program is the bottleneck.
 
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