Sterling Platform questions...

L

LVtrader35

I plan I talking with the folks at Sterling next week but wanted to ask those of you who are trading on it if this example can be done with one order and a limited number of keystokes or mouse clicks:

....I want to go long XYZ stock at $10.00/share but I want to simultanously enter a stop loss order of $9.95 if the order goes against me to stop me out. I want to have this order go to ARCA first on the long side and then if not available, route out from there and if I get to the level where it will get to stopped out, I want it to go to ARCA first and if not available, route the stop too...

....Does anyone here use the T-Stop (trailing stop) function on Sterling and if so, to what degree do you use it and how does it work please...

Thanks -
 
The system allows you to simultaneously place a stop order with every trade entered. You set the amount, I believe the system defaults to .75 cents. They also now have one cancels another orders so you can have laddered stops.
 
Quote from LVtrader35:

I plan I talking with the folks at Sterling next week but wanted to ask those of you who are trading on it if this example can be done with one order and a limited number of keystokes or mouse clicks:

....I want to go long XYZ stock at $10.00/share but I want to simultanously enter a stop loss order of $9.95 if the order goes against me to stop me out. I want to have this order go to ARCA first on the long side and then if not available, route out from there and if I get to the level where it will get to stopped out, I want it to go to ARCA first and if not available, route the stop too...

....Does anyone here use the T-Stop (trailing stop) function on Sterling and if so, to what degree do you use it and how does it work please...

Thanks -
More...

Very basic formula that can be done with any simple ActiveX excel program tied to any reliable API. We have done that for 10 years with RediPlus. Routing options can be set with platform as well, slight varied with NMS rules of course.

FWIW,

Don
 
Quote from LVtrader35:

I plan I talking with the folks at Sterling next week but wanted to ask those of you who are trading on it if this example can be done with one order and a limited number of keystokes or mouse clicks:

....I want to go long XYZ stock at $10.00/share but I want to simultanously enter a stop loss order of $9.95 if the order goes against me to stop me out. I want to have this order go to ARCA first on the long side and then if not available, route out from there and if I get to the level where it will get to stopped out, I want it to go to ARCA first and if not available, route the stop too...

....Does anyone here use the T-Stop (trailing stop) function on Sterling and if so, to what degree do you use it and how does it work please...

Thanks -
More...

Yes you can do that on Sterling. I had a strategy I used last summer which revolved around doing exactly these types of orders with trailing stops. That was one of the reasons I switched from Laser to Sterling. Laser is a "no frills" software that I couldn't employ certain strategies on, while Sterling has a lot of functions such as working trailing stops that can be immediately sent out with every opening position.
 
Cre8,

Are you still trading on Sterling? I tested Laser for about a month and it did not suit my style I was looking for..

Anything you can add about Sterling would be appreciated or if you can PM that would be great.

Thanks -
 
Quote from LVtrader35:

I plan I talking with the folks at Sterling next week but wanted to ask those of you who are trading on it if this example can be done with one order and a limited number of keystokes or mouse clicks:

....I want to go long XYZ stock at $10.00/share but I want to simultanously enter a stop loss order of $9.95 if the order goes against me to stop me out. I want to have this order go to ARCA first on the long side and then if not available, route out from there and if I get to the level where it will get to stopped out, I want it to go to ARCA first and if not available, route the stop too...

....Does anyone here use the T-Stop (trailing stop) function on Sterling and if so, to what degree do you use it and how does it work please...

Thanks -
More...

Sterling has a number of stop features including trailing stops, buy stops sell stops, market, limit, as well as auto-stops that will be initiated by the software as soon as you recieve a fill. The stops allow you to choose a route and whatever delta you would like. The stops reside on Sterlings software which is important because it makes them quicker and more reliable then client side stops. The only real bitch I have about the stops is that the auto-stops are not flexible enough and they do not recognize when you have flattened your position so it will initiate a stop on every fill, it takes some getting used to and could stand some improvements.

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