New Order Entry GUI Design

Here’s a new GUI design I have come up for order entry management. In addition to a DOM price grid where one can click to generate a buy or sell bracket order with target and stop loss, a canvas is provided to manage orders.

The generated backet orders are represented in a canvas where all price levels are drawn in horizontal grids much like the ones in a chart. Each order such as entry, target and stop loss is reprresented by a circle or rectangle. These three or more circles or rectangles are linked with either dotted or solid lines to form a trade group. One can drag and drop or move the circles or rectangles around and they can anchor at any price grid lines. If one likes to scale in, more target circles or rectangles will be formed in the trade group. If an order is filled, it will be fixed at the filled price grid line vertically, but one can still move it horizontally.

As illustrated in the diagram, if ES is traded, the first trade has a Buy 1 ES (B1) with a target Sell 1 ES (T1) and stop loss Sell 1 ES (X1). The second trade has a Buy 2 ES (B2) and two targets Sell 1 (T1 and T1) and stop loss Sell 2 (X2). One can form multiple trade groups, each with different set of strategy that manages the targets and stop loss. The canvas provides a nearly free-form order entry management interface to any trading platform. In a way, it looks like a chess board!

SOHU

Long SOHU Mar 30 C @2.30. This is a play at major support level. If the support around 28 holds up, SOHU will move back into lower 30s.

Tomorrow is the first day BOX opens for trading. I hope the stupid cancellation fees charged by all current option exchanges will be forced to be removed due to increasing competition. There’s another stupid rule in option trading, that is, you can not have 100% electronic transaction. Up to now, all exchanges require at least somewhere during the order entry process, a human involvement must be present.

Waiting to see job reports tomorrow.

ES

1 point tonight. Two shorts: 1046.75 and 1046.5. Covered them at 1046.25 and 1046. The stop was set at 1048.5 way above recent high 1047.

It’s been profitable on ES front although scalping is just picking the pennies. I may venture into swing trade over a few days or a week horizon. What would be the target and stop for swing trade? I guess I would risk no more than 1-2% of the capital on each trade. The setups will be two: trend following using SMA 5 and 20, and Bollinger Bands/Slow Stochastic. I’m using the same setup trading other stocks and options.

Bot SUNW Jan04 at 4.05, rolling over Nov contracts to Jan.

Other than a long position on SUNW, almost 100% is in cash right now.

SUNW warns …

Sun Microsystems warns on Q1. SUNW dropped 10% in after hour trading. Glad to be stopped out @3.88 last week!

Didn’t get chance to go long on SOHU since it went up 10% today.

August is over

Slowly moving August is over. After this comming Labor Day week, trading volume should be picking up as traders return from their summer vacations. NASDAQ has reached new high and INDU and SPX are approaching its recent high respectively. All markets have done some base building, we will find out wheither or not they will break out or go down. Short term wise, it looks the market will move up a little. Short: QQQ Oct 32 Put (it’s not working obviously after QQQ’s big run up). Long: HNP (I have been waiting for opportunity to own some HNP shares), SUNW, SOHU and MSFT (SSF).