TT Sniper is an Order Ticket Algo (OTA) that allows you to hide your intent to buy or sell at a given price until there is quantity available at that price on the opposite side of the market.
When submitted, TT Sniper looks at the quantity available on the opposite side of the market at the specified order price for the given contract. If there is at least one lot available at this price or better, a child Limit order will be submitted at this price with a quantity equal to the available or remaining quantity to execute, whichever is less.
If the full child order quantity is not immediately filled, TT Sniper will cancel the balance and add the unfilled quantity back to the quantity remaining to be filled. It will repeat this until the total quantity is filled.
You can launch a TT Sniper algo from the following widgets:
Note: You must have a TT Pro license to use TT Sniper.
To submit a TT Sniper order:
You can also launch OTA algos from Market Grid, Autotrader, or the Algo Dashboard.
If using the Order Ticket, enter a price and quantity and click Buy or Sell.
The Order Book displays the TT Sniper "Instance Name" in the TextTT column, shows the working quantity and executed quantity in WrkQty and ExeQty, and shows the status of the parent TT Sniper order in SynthStatus.
The Fills widget shows both parent order (*) and child order fills. The child order fills are received directly from the exchange.
Select TT Sniper from the Algo Explorer pane and configure the TT Sniper order parameters. In Algo Dashboard, you also need to provide the contract, price, quantity, and side for the TT Sniper order.
In Autotrader, click Choose an algo and select TT Sniper. Click Add row to configure the TT Sniper order parameters. You also need to provide the contract, price, quantity, and side for the TT Sniper order.
The following parameters are available in the TT Sniper flyout: