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X_TRADER®

MD Trader – Displaying Market Data

You are viewing X_TRADER Version 7.17 and higher. For earlier versions, click here

Auto Centering in MD Trader

When enabled, the auto-centering feature available in MD Trader automatically centers the grid display.

Note: This feature works independently of the Participate in Global Recentering property. Refer to MD Display Tab for more information.

To set automatic grid centering:

  1. Open MD Trader.
  2. Right-click anywhere in MD Trader and click Properties.
  3. Click the MD Display tab.
  4. Click to select the Automatic Grid Centering option.
  5. Choose the option that determines when MD Trader recenters:
    • Every _ seconds
    • Last Traded Price Within _ rows from top/bottom
    • Inside Market Within _ rows from the top/bottom
  6. If you want MD Trader to flash prior to recentering, click to select the Enable Grid Recenter Warning.
  7. To set this property for all subsequently opened MD Trader windows, click to select Set as Global Default.
  8. Click OK.

Centering the Market

Note: You can change the hotkeys associated with this command. Refer to Changing Hotkeys in MD Trader

To center the market:

Press the Spacebar.

This centers the market in MD Trader, but does not affect the position or location of the buy or sell side cursors, which are adjusted using a different set of mapped key strokes.

Consolidating Prices

Price consolidation condenses the display of price information in the static price column. This lets you view a greater range of prices without clouding the total quantity available.

You can configure price consolidation to select an offset and an order distribution method (join the bid or offer) that enters orders for the consolidated price rows.

To consolidate your prices: 

  1. Open MD Trader.
  2. Right-click anywhere in MD Trader and click Properties.
  3. Click the MD Display tab.
  4. In the Price Consolidation section, type in the # Prices per line and Offset.
  5. If you want to see the slider, click the Show Slider Control Increment and type in how many ticks each increment stands for.
  6. To set for all subsequently opened MD Trader windows, click to select Set as default.
  7. Click OK.

Displaying the Mid-Point of Inside Market

To make it easier to identify the mid-point of the inside market, MD Trader places a bold line across the width of its grid (see the cursor below).

Here are some rules for mid-point placement:

  • The mid-point line appears midway between the best bid and best offer in the market.
  • If there is a one-sided market the mid-point line appears directly above or below the best bid or offer in the market, respectively.
  • If there is no market, then the line appears at the last trade price.
  • If the number of price rows (or ticks) between the best bid and best offer is an odd number, then the mid-point line appears in the upper cell of the middle value.
  • If the number of price rows is an even value (or zero), then the mid-point appears between the middle values.

To display the mid-point of the inside market:

  1. Open MD Trader.
  2. Right-click anywhere in MD Trader and click Properties.
  3. Click the MD Display tab.
  4. Click to select the Highlight Midpoint of Last Recenter option.
  5. To set for all subsequently opened MD Trader windows, click to select Set as Global Default.
  6. Click OK.

Text and Grid Colors

Many of the grids, text boxes, and indicators in MD Trader are color coded to give you a visual indication of market position and other information. The grid below summarizes the default colors:

 

Column or Text BoxAssociated Colors
Working Quantity Column

Foreground color: Gray

Working Sell Text: Red Font

Working Buy: Blue Font

Executed Sell: Red Font

Executed Buy: Blue Font

Net Position Box

Background color: Red or Blue depending on position.

Short Position: Black Font

Long Position: White Font

Bid Column

Foreground color: Blue

Font Color: White

Sell Column

Foreground color: Red

Font Color: Black

Last Traded Quantity Column

Font color: Black

Trade at decreased price: Red background

Trade at increased price: Green background

Trade at same price: White background

You can customize many colors using the MD Color tab on the Properties menu. Among the colors you can customize include:

  • LTP Up, Down, or Unchanged
  • Net Change Up, Down or Unchanged
  • Net Position Flat, Long or Short
  • Buy and Sell side columns
  • Working Buys or Sells
  • Best Bid and/or Ask  
  • Average Price of Long and/or Short Position

Reading the Net Change Indicator in MD Trader

In MD Trader the Net Change indicator is a small box immediately below the system clock. It displays a net change in price for a traded product in the current day measured against the previous day’s settlement price. If there is no settlement price, the closing price is used.

The net change is color coded:

  • red for a negative change
  • green for a positive change.

The unit of measure is in tick increments for the product.

Reading the Net Change Indicator in MD Trader

In MD Trader the Net Change indicator is a small box immediately below the system clock. It displays a net change in price for a traded product in the current day measured against the previous day’s settlement price. If there is no settlement price, the closing price is used.

The net change is color coded:

  • red for a negative change
  • green for a positive change.

The unit of measure is in tick increments for the product.

Recognizing Average Price of Open Position

The average price of your open position is the average price of all your fills at different price levels. You can use this price point to gauge whether trading out of your position will provide you with a realized gain, loss, or scratch.

The average price is calculated as follows:

  • If the position is long, average the price of all buys and ignore all sells.
  • If the position is short, average the price of all sells and ignore all buys.
  • If no open position exists, the average price equals zero.

This method is used because there can be a major difference between FIFO and LIFO methods for calculating the average price of an open position. Likewise, there can be a major difference using the FIFO method but reversing the order of the Buys.

Example: If Trader A bought in the manner shown below, and Trader B sold at 96, then 97, then 98, etc., the traders would show two different average prices even if they both used the FIFO method.

The example below compares FIFO, LIFO and the MD Trader method:

Trader AAverage Price of Open Position based on...
BuysFIFOLIFOMD Trader

Buy 1 @ 100

100

100

100

Buy 1 @ 99

100

100

100

Buy 1 @ 98

99

99

99

Buy 1 @ 97

99

99

99

Buy 1 @ 96

98

98

98

 

Trader BAverage Price of Open Position based on...
SellsFIFOLIFOMD Trader

Sell 1 @ 96

98

99

98

Sell 1 @ 97

97

99

98

Sell 2 @ 98

96

100

98

Note: When calculating average price, MD Trader rounds longs up and shorts down.

Using the Laser Line

When you paste a link from Excel into MD Trader, the indicator columns shade the color of the cell in Excel. This shade indicates the approximate value of the link in relation to the MD Trader Price column.

This functionality still exists, however it has been enhanced.

Now, when you paste a link from Excel into the price column, a laser line appears over the number in the Price column to indicate a realistic approximation of the value of the link created in Excel.

Example:

In Excel we have two formulas saved. The values of which have the following attributes:

  • A green shaded cell has a value of 112007
  • An orange shaded cell has a value of 112003

With the indicator columns shown, you paste the respective links in MD Trader, and get a green and orange shaded cell indicating values in Excel rounding down closest to 112000 in the MD Trader Price column.

- or -

You hide the indicator columns, paste the respective links in MD Trader, and the laser lines give direct indications of where the values in Excel are in relation to the MD Trader Price column.

To use the laser line indicator:

  1. Create your formula or value in Excel.
  2. In Excel, click the Format menu and choose Cells.
  3. Click the Pattern tab.
  4. Click the color you want to shade the cell and click OK.
  5. Right-click the shaded cell and click Copy.
  6. In MD Trader, if the indicator columns are shown, go to the next step.

- or -

In MD Trader, if the indicator columns are not shown, go Step 11.

  1. Right-click MD Trader and click Properties.
  2. Click the MD Display tab.
  3. Click to de-select Bid indicator column and Ask indicator column.
  4. Click OK.
  5. Right-click MD Trader and click Paste Link.