I found the right click vs left click on the DOM confusing and dangerous. Normally (as in thinkorswim), you left click on ANY spot, above or below current price to place an order that will be executed ONLY when the value hits that target. Left side is long, right side is short. Simple enough right?
In Tradovate however, a left click to short, below value, means EXECUTE IMMEDIATELY AT MARKET. Left clicking to go long, above value, means the same. However right-clicking above value to short, means an INVALID order, same error when you go long and below value. I suppose this confusing setup is supposed to make it faster to enter market orders, even though there are 2 LARGE buttons above the DOM to do just that. Confused yet? If you forget ANY of this, your order will execute IMMEDIATELY, which is not what you intended because you clicked on a VERY specific price well below or above the current value. Apparently that does not matter. You cannot safely use the DOM unless you memorize all this.
I would suggest that a setting be created to disable this “feature” to the more simple version: execute order only when price hits it, that’s it. Thanks!
I agree. SierraChart handles this very well, but the Tradovate interface (both in the DOM and the chart) could be improved as you mention.
The chart click could use additional buttons. For a scalper, it needs a way to click one time to enter the order, so if you click once to prepare your entry point, it needs to offer:
Sell STOP
Sell LIMIT
Buy STOP
Buy LIMIT
Why? Because price can easily pass through in seconds and you are trying to sell or buy in the opposite direction for a fade.
SierraChart handles this by synchronizing the DOM with the chart.
If you click on the DOM once, the bracket is placed instantly (no popups or confirmations).
There are four options.
you click above price in the sell column - sell limit order is placed
you click below price in the sell column - sell stop order is placed
you click above price in the buy column - buy stop order is placed
you click below price in the buy column - buy limit order is placed
This allows a perfect setup for fading and scalping because you can prepare your entry level, let price pass through it, and then get in quickly for the fade.
With the current interface, on a tick chart, this can be impossible to catch because it requires a click on the chart, another click on the button, but since price hasn’t moved through the menu doesn’t have the buy stop or buy limit or sell stop or sell limit. It only shows two buttons rather than all four…And if you try to go over an do this on the DOM, it’s not scaled with the chart so you have to keep looking back to the chart to see your levels. Only possible with an interface like sierrachart. Doesn’t work in tradingview either because, while they offer 1-click order entry, they do not offer a bracket order and you simply must have the take profit order in place when the order is entered otherwise price can go to target faster than you can click to close and retrace to beyond your entry point.
So, for me, this means:
Dock and scale the dom with each chart.
Allow the user to configure left/right click for stop/limit as some users will want to click above and below price with left mouse only and not need to remember to right click above price to get the stop type entry…
If the dom is with the chart, and a cross hairs mouse bar shows you on the chart where you are entering, you can buy or sell and the order will be placed perfectly.
I agree this needs to be adjusted. I have placed market orders that i didn’t want because of the way the DoM is set up, now i avoid using it because i’m afraid i’ll get undesirable results. (Which is sad because that is what you are suppose to use a DoM for, placing orders) Their Chart trader works a little better when clicking above or below the current price it gives the options you would expect.
I second this motion - You can leave it the way it is for people that are used to it, but for people that are used to the “other way” there should be an option.
Currently, our DOM order entry on the desktop version is: Left-click = LIMIT, Right-click = STOP. We’ve had a few requests to allow some customization for this and we’re evaluating some options.
I will keep this thread updated with our progress.
For me and most likely for others here the “ right click, Left click” thing is where accidentally entries happen that i didn’t want. The Issue is “Left Click , Right click ” on the DoM is not consistent, depending on if click ABOVE or BELOW the current price will result in a different Order type. I feel this is a complexity that is unintutive for the user and has caused me to place Market Orders when i was trying to place a Limit or stop order. After a few of these accidental order placements i stoped using the DoM for order entries because i wasn’t confident what i was going to get, now i only use the chart to place orders because it is obvious what is going to happen (See my image above.)
For me to avoid the order entry feature that was designed to make entries easy, might mean there needs to be a little rework to add another option on how the click to enter functions work.
I feel the Left Click should do both Stop and Limit orders, depending if click above or below the current price. If you left click above the current price on the “Buy” you get a “buy Stop” order, if you Left Click below the current price on the “Buy” you get a “Buy Limit” order. This is how it works on the TradoVate chart trader function.
“Left clicking” on the DoM to place Market orders is my main issue and causes the fear of using the DoM, there are literally big “Buy market”, “Sell Market” buttons on the DoM already, not sure if it needs to be apart of the “ left Click . Right Click” system on the DoM. At least there should be an option to turn that function off.
Thanks again for the feedback @MadCat. I just want to be sure I’m describing the current functionality clearly to make sure there isn’t any misunderstanding. What you see today when you left-click on the DOM (let’s say on the Buy side) above the last price, is that it does place a Limit order (not a market order). You should see the order type “Limit” in the order grid module or in the order details. This function allows users to sweep the book.
When I “Left Click” above the current price on the “Buy” side it immediately fills like a market order would. I Left Clicked on Buy “3026.50” and it filled the current price at “3023.50” I feel it should have placed a “Buy Stop” oder at “3026.50” and not have filled the order at market price.
This is what i’m getting at i’m not sure what its going to do and its scary when money is on the line in a fast moving market.
I am not on that level where i would be placing an order for hundreds or even thousands of future contracts, so that is a lot more advance than i need.
I don’t want you to change the DoM i would just like and option to switch the function to a Simple Version on how you place orders using it. A check box for simple version.
Simple version:
“Left Click” above current price on the “Buy” side would place “Buy Stop” Order, “Left Click” below current price would place “Buy Limit” Order.
“Left Click” above current price on the “Sell” side would place “Sell Limit” Order, “Left Click” below current price would place “Sell Stop” Order.
I thought I was the only one put off by this. I am executing via Daytradr because I do not like the behavior of the Tradeovate DOM. I feel it is either not planned well or just not customizable enough (yet). Until improved, I feel the Tradeovate DOM could potentially be rather dangerous.
If any support person reads this: When fixing or building out the Tradeovate DOM, could you put a setting to “lock” the DOM order entry upon launch of App/Web? This should be an option selected by the user and a global setting across all instances. Thank you!
This new feature can be found beginning with VER: 1.201002.0 (You can check the version on the bottom of the login screen to confirm which version you are using).
To manage this setting:
We have added 2 additional configurations under the DOM settings. Open the DOM, navigate to Settings
There are 2 options:
The first option is “Limit Order - Left Click | Stop Order - Right Click”. This is the behavior that Tradovate currently uses as a default. The tooltip describes how the order types will be determined. With this option selected: “You determine the order type (limit or stop) by left-click or right-click, regardless of if the pointer is above or below the best bid or best ask”
The second option is “Limit Order - Left Click | Stop Order - Left Click”. This is the new behavior that can be enabled. The tooltip describes how the order types will be determined. With this option selected: “The system will determine the order type (limit or stop) considering if a buy or sell and if the pointer is above or below the best bid or best ask”
I agree and is very dangerous…cost me a lot today when i thought i had moved SELL order on the DOM…It executed immediately…not aware i went in to something else just to come back to find out the damage caused.
Thank you for the ability to change this setting. I can’t remember how many trades have lost me money because I wanted to place a stop order but didn’t use the right click button! It is infuriating to create a loss for no reason.
