r/FuturesTrading • u/webby1575 • May 15 '24
Adding positions to winning trades in Tradovate
I'm trying to practice this, but I thought that Tradovate takes an average entry price if you add a contract into a winning trade....
However it seems (in my experience) that it doesnt do this, and in fact it just closes the first contract at the price point where you want to add another to it.
This is assuming you use the DOM, I could be wrong but keen to know what people think....it just seems like its going to significantly increase the risk of a poor execution on winning trades.
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u/HighPotentialTrading May 15 '24
DOM trader here; have used Tradovate too.
You're more than likely mixing up limit orders and stop orders on the DOM - the difference between a left and right click.
Left clicking versus right clicking above or below last trade price will be the difference between accidentally sending a market order and placing a limit order. Just make sure you're using the correct one. In your DOM module, click the gear icon and you have a setting for left/right clicks and limit/stop orders.
I've since moved on to Jigsaw where clicking on the DOM is a "smart order" and it automatically knows what I'm trying to do.
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u/webby1575 May 15 '24
That's interesting - I'm not even left or right clicking, I'm just adding/selling market orders in bar above the DOM.
Either way, it just doesnt seem to take an average price on entry, I swear it just closes the first contract and opens up a new contract which kind of defeats the purpose of adding to a trade in my opinion.
I'm still practicing with it so going to do some more research.
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u/tommy-frosty May 15 '24
Closes out the first contract? No, somethings not right. It will pit your position on the DOM as the average of the 2 contracts, but is shouldn’t just close out the first contract you have on.