Sunday, May 12, 2013

Optimal Desktop setup to avoid trade execution errors

I finally got a chance to track down my trade report to investigate why there were twice as many position sizes on my May RUT calendar adjustments, as I noted while I was trying to make additional position adjustment. My trade activity report indicated I bought two calendars of $940c and $960c separately, as I recorded in my previous post. However, just a couple of minutes later, I also got an order of a double calendar of 2 contracts filled. I thought I had deleted this order as I logged before. Since this order actually gave me some profit, I did not spent extra time to investigate if this order was due to broker software issue or my own issue in cancelling the order. But next time, I definitely need to pay attention to the order cancelling info.

As a result of this trade execution review, I think I'll need to have the following desktop and software environments for my trading execution.

  • The order execution alarm should be loud enough to get my attention. I had probably muted the sound as I was on a phone call at that trading time.
  • The flashing executed order pane should be visible. I might have covered the order notification page as I had a bunch of windows open for various tasks.
  • The email notification alert should be on as another way to get noticed about the executed orders.
  • Watch and compare trading orders (size, limit price, symbols) with the orders in the TOS analyzer.
  • Double check order panes before closing the trading software.

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