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Cindy Blankenship

How do I place a BUY order on DAS (LIVE with real money)

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Just beginning the Live DAS today.  Been on the Simulator for about a month.  I went in to place an order, and the choices of "ROUTE" is much different than in the Simulator.  In the sim you can choose "LIMIT" "MARKET" AND "STOP."

But in the Live DAS (using real money), those choices are not there.  Instead it is SMRTL, SMRTM, ARCAL, ARCAM,....and on and on....

I watched Roberts "How to use Range (Bracket or OCO) orders in DAS" teaching video - but it doesn't address this question.

I contacted DAS and they said I have to talk to my broker (IB).  Talked to the broker and he said they have no idea because this is a DAS platform.  Went back to DAS and they said I need to talk to my broker..... 

So I wasted a day on this question.  I would stay with the simulator but it is different than the Live DAS - so that still won't help.

Can you help??  Is there a video in your list that addresses this - and what those acronyms mean, as well?

Thank you, 

Cindy

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Hi Cindy, for your hotkeys use ROUTE=SMRTL

Like this: ROUTE=SMRTL;Share=50;Price=Bid-0.05;TIF=DAY+;SELL=Send

 

 

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Hi Cindy! 

There's basically no much difference there! 

So SMRTL is for the LIMIT orders

SMRTM is for market order

then you've ARCAL, ARCAM, and so on .Those are market makers! ARCAL is standing for ARCA LIMIT, ARCAM is standing for ARCA MARKET. When you look into your montage you can see that ARCA is offering let's say 4000 shares at price 43.22, if you set your route buy from ARCAL 43.22 then you'll get filled by ARCA only at price 43.22 and better(43.22 or less), if you set it to ARCAM, then you'll get filled by ARCA at any price they offer. Most of us here are using hotkeys, and our hotkeys are set to SMRTL. You can use Andrews hotkey layout here:https://bearbulltraders.com/lessons/download-das-layout-and-hotkey-file/ or if you look for a more detailed info on hotkeys you can check Kyle's thread here:

If you still have any questions you can ask! I hope you're doing well live, take it slow and easy!

 

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