Try TT Now

Autotrader Procedures

Follow these procedures to use Autotrader:

Creating Trading Profiles

Create trading profiles to define the parameters you want Autotrader to use when submitting orders and interacting with the market. Trading parameters can reference theoretical prices, actual market prices, or be setup for direct order entry.

Before performing these procedures, you should be familiar with the functional descriptions of the available trading parameters. Refer to the Profile Setup Page Overview.

Note: You can use formulas in any numeric cell (i.e., offsets, quantities, position limits, change allowances, etc.) to determine dynamic values.

To define your profiles and their associated trading parameters, perform the following procedures:

To create trading profiles:

  1. Open Autotrader.
  2. Open the Profile Setup Page.
  3. In the Name field, type the name of the profile you want to create.
  4. If you want to assign a custom color to your profile, do so now.
  5. Configure the General Information section by performing the following tasks:
  • In the Account box, click the Customer Account you want to use as the default account with this profile.
  • In the Profile Base Price box, click to select the base price Autotrader uses to place its orders in the market. If you select Direct Order Entry, the Bid and Ask Offsets and Quantities (for original and reserve) disappear. Direct Order Entry uses the Scratch Pad to send orders to the market.
  • By default, Throttle Quotes is set to 0 milliseconds. If you do not want to use throttle quoting, keep this value at 0.
  • If you want Autotrader to submit covering orders whenever you get filled, click the Enable Cover Orders check box.
  • If you want to assign a different color to your cover orders, do so now.
  1. Configure the Profile Parameters section by performing the following tasks:
  • In Price Units, click the type of price unit you want to use with this profile.
  • In Bid Offset, set the offset at which you want Autotrader to start placing bids in the market.
  • In Bid Quantity, set the quantity of the initial bid that Autotrader sends to the market.
  • In Ask Offset, set the offset at which you want Autotrader to start placing offers in the market.
  • In Ask Quantity, set the quantity of the initial offer that Autotrader sends to the market.
  • If you are using Cover Orders, set the offset (away from the filled price) at which you want Autotrader to submit the covering order.
  • In Update Method, set how you want to price changes to affect your quote orders.
  1. Configure the Quoting Limits section by performing the following tasks:
  • In Maximum Position, type your maximum allowable position.
  • In Bid Change Allowance, type the amount of market movement that must occur (in Price Units) before Autotrader cancels and replaces its bids.
  • In Ask Change Allowance, type the amount of market movement that must occur (in Price Units) before Autotrader cancels and replaces its offers.
  • If you use theoreticals (Single or Ask and Bid) as your Profile Base Price, refer to Additional Theoretical Configurations.
  1. Click Save.
  2. To go back to the Autotrader window, click Close

You successfully created trading profiles.

To edit trading profiles:

  1. Open the Profile Setup Page.
  2. In the Profiles box, click the name of the profile that contains the parameters you want to view.
  3. Edit the parameters as described in the Creating Trading Profiles procedure.
  4. Click Save to retain your changes.

You successfully edited trading profiles.

To delete a saved profile:

  1. Open the Profile Setup Page.
  2. In the Profiles box, click the name of the profile you want to delete.
  3. Click Delete.

You successfully deleted a saved profile

Populating Autotrader

Before placing automatic trades with Autotrader, you must create at least one Trading Profile and define the trading parameters. You can create multiple profiles and assign different trading parameters to different contracts and expirations.

Tip: For optimal performance, TT recommends you use no more than 15 rows in an Autotrader grid. When populating it with contracts, take into consideration the following:

  • Market timing and conditions
  • Your personal trading strategies
  • Volatility
  • Degree of product updates
  • Your hardware specifications

Follow these procedures to populate Autotrader with contracts:

To populate Autotrader from Market Explorer:

  1. From the Control Panel, click the Window menu and choose Market Explorer.

- or -

From the Control Panel, click the icon.

  1. If you are logged into more than one exchange, in the Exchanges box, click the exchange whose product you want to find.
  2. In the Products section, click the down arrow and choose your search filter.
  3. Type your search criteria in the available space.

The Instruments field updates as you type.

  1. From the Instrument Type box, click to toggle between the displayed types.
  2. Press and hold the CTRL key and click the products you want to open.

- or -

To open all products in the Instruments field, click the >> button and skip to step 8.

  1. Click the > button to transfer the products from the Instruments box to the Selected Instruments box.
  2. Click the Function box in the upper right corner of the Market Explorer and choose Autotrader.
  3. Click Start.

You successfully populated Autotrader from Market Explorer.

To populate Autotrader using drag-and-drop from Market Explorer:

  1. If Autotrader is not open, use the Control Panel to open it.
  2. From the Control Panel, click the Window menu and choose Market Explorer.

- or -

From the Control Panel, click the icon.

  1. If you are logged into more than one exchange, in the Exchanges box, click the exchange whose product you want to find.
  2. In the Products section, click the down arrow and choose your search filter.
  3. Type your search criteria in the available space.

The Instruments field updates as you type.

  1. From the Instrument Type box, click to toggle between the displayed types.
  2. From the Instruments box, press and hold the CTRL key and click the products you want to open.
  3. With the cursor over one of the selected products in the Instruments box, click and hold the mouse button.
  4. Continue holding the mouse button and drag the cursor to the open Autotrader.

When the cursor leaves the window, it changes to a circle with a diagonal line through it. When the cursor enters a window, it changes to include a plus [ + ] sign.

  1. Release the mouse button.

You successfully populated Autotrader using drag-and-drop from Market Explorer.

To populate Autotrader using drag-and-drop from the Market Grid:

  1. If Autotrader is not open, use the Control Panel to open it.
  2. From an open Market Grid, click the product and hold the mouse button.
  3. Continue holding the mouse button and drag the cursor to the open Autotrader.

When the cursor leaves the window, it changes to a circle with a diagonal line through it. When the cursor enters a window, it changes to include a plus [ + ] sign.

  1. Release the mouse button.

You successfully populated Autotrader using drag-and-drop from the Market Grid.

To populate Autotrader using the Market Grid context menu:

  1. In the Market Grid, right-click in the row of the product for which you want to populate Autotrader.
  2. Click Autotrader.

An Autotrader window appears populated with the product you selected.

You successfully populated Autotrader using the Market Grid context menu.

Starting to Trade Using Autotrader

Before placing automatic trades with Autotrader, you must create at least one Trading Profile and define the trading parameters. You can create multiple profiles and assign different trading parameters to different contracts and expirations.

Note: Included in each procedure is a step to mark the row active. The Active column is next to the Status column, and you cannot trade in Autotrader until your row is marked active.

Follow these procedures to start trading using Autotrader:

To trade using profiles:

  1. Open Autotrader.
  2. Populate Autotrader with the contracts you want to trade.
  3. If you have not yet set up your trading profiles, do so now.
  4. In the Control section of the grid, in the Profile column for the contract row you want to trade, click the profile you want Autotrader to use.

This example, has the Test1 profile selected. If this profile has multiple expirations, the expiration of the row's contract determines which set of trading parameters Autotrader uses from the profile.

  1. If you want to assign a different customer account, in the Account column, click the down arrow and select one from the list.

The example in the previous step has the TEST1 account selected.

  1. In the Control Bar, click ON to enable the grid.
  2. In the Row Identifier section, in the Active column for the contract row you want to trade, click to select the Active check box.

You can now submit orders.

  1. In the Control section, click Auto to start Autotrader trading using the parameters you set in the selected profile.
  2. If you want to use this setup in the future, save your workspace.

You successfully traded using profiles.

To trade using theoreticals:

  1. Open Autotrader.
  2. Populate Autotraderwith the contracts you want to trade.
  3. If you have not yet set up your trading profiles, do so now.

Note: In the Profile Base Price field, you must select either Single Theo or Bid/Ask Theo.

  1. In the Control section of the grid, in the Profile column for the contract row you want to trade, click the profile with the type of theoretical profile you want Autotrader to use.

This example, has the Test1 profile selected. This profile is set to Bid/Ask Theo.

  1. If you want to assign a different customer account, in the Account column, click the down arrow and select one from the list.

The example in the previous step has the TEST1 account selected.

  1. In the Theo Price section, link your theoretical generator into either:
  • The TheoSingle column if you are using a Profile Base Price set to Single Theo.

- or -

  • The TheoBid and TheoAsk columns if you are using a Profile Base Price set to Bid/Ask Theo. Link your theoretical Bid generator to the TheoBid column and your theoretical Ask generator to the TheoAsk column.

  1. In the Control Bar, click ON to enable the grid.
  1. In the Row Identifier section, in the Active column for the contract row you want to trade, click to select the Active check box.

You can now submit orders based on your theoretical prices.

  1. In the Control section, click Auto to start Autotrader trading using the parameters you set in the selected profile.
  2. If you want to use this setup in the future, save your workspace.

You successfully traded using theoreticals.

To trade using direct order entry:

  1. Open Autotrader.
  2. Populate Autotraderwith the contracts you want to trade.
  3. If you are going to submit orders to the market automatically, you must set up a trading profile.
  4. In the Control section of the grid, in the Profile column for the contract row you want to trade, click the appropriate profile you want Autotrader to use.

This example, has the Test1 profile selected.

  1. If you want to assign a different customer account, in the Account column, click the down arrow and select one from the list.

The example in the previous step has the TEST1 account selected.

  1. Populate your Scratch section by either:

- or -

  1. In the Control Bar, click ON to enable the grid.
  1. In the Row Identifier section, in the Active column for the contract row you want to trade, click to select the Active check box.

You can now submit orders.

  1. Do one of the following:
  • In the Control section, click Auto to start Autotrader trading using the parameters you set in the selected profile.

- or -

  • In the Control Bar, click Update Orders to submit orders from the Scratch section.
  1. If you want to use this setup in the future, save your workspace .

You successfully traded using direct order entry.