Frequently Asked Question

Find here the solution to your question on the usage of ScalpTool.

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Basic settings and classic book

What should I do at the first run of ScalpTool?

First of all, select the data feed you want to use from the dropdown menu. Enter login and pass that you received by your broker. In the "Key" field you must enter the Activation Key you received by email from euSpeed and then click on "Connect". Then choose whether to operate in "Live" or "Simulation" mode.

How do I choose the data feed to use?

Once you opened ScalpTool, you have to select the data feed from the drop-down menu.
Available data feed
Environment Data feed to select in ScalpTool
Production, real data feed and orders Rithmic 01 - Zen-Fire
Real market data, but orders directed to test servers Rithmic Paper - Zen-Fire

I can not connect with ScalpTool. I receive this error: "Unable to verify license. Auth server unavailable".

ScalpTool must verify the authenticaion key, so it has to connect with our servers on non-standard TCP ports. Please, check your firewall if it block the connection.

You have released a new version of ScalpTool. Should I remove the old installation before install the new ScalpTool?

If it is not written in the release notes, you can avoid to remove the old installation. Just pay attention to not installing ScalpTool with the old running.

Can I save the connection data?

Once you entered your information (Login, Pass, etc.), select the item menu "Account" and choose "Save Default". If you use ScalpTool with multiple accounts, select "Save as" and then click on a free field of the column you will see on the right.

How do I set ScalpTool in simulation mode?

You must select this mode when you start ScalpTool choosing "Simulation".

How can I be sure to be in simulation mode?

You will see "(SIMULATION)" in the title bar of ScalpTool control panel and the texts of the buttons begame red.

What is the difference between the Rithmic paper environment and the Simulation mode?

The environment Rithmic Paper is a replica of the real market made to trading as in a real market. Orders and fills reach the paper servers but they live in a test environment, they do NOT impact on your real capital. In this environment you can test almost every type of strategy or orders, even the ones server side. On the other hand, the Simulation mode is internal to ScalpTool client: orders and fills are not real and they do not reach any servers. If you can work in a paper environmente, we suggest to use it and not use the Simulation mode.

How are symbols formatted?

The syntax of the symbols, for Zen-Fire users, is available here. Once you have the symbol, you can avoid to write the market because you can choose it in the drop down menu next to the symbol.

How do I open a classic book?

Press the "+BOOK" from the ScalpTool control panel.

How do I see the information of a security?

Once you entered the symbol in the classic book, simply go to its the menu and press "Info".

How do I change the number of displayed levels of the classic book?

Once you opened a classic book, select the number of levels from the "Levels" menu.

Can I minimize the size of the classic book?

To reduce the window of the classic book to a minimum size, simply press the "^" button from the menu of the book. In this way all levels of the book will be hidden.

What data are visible in the classic book?

The image below shows the data in the classic book:

Can I place an order from the classic book?

Yes, but you have to enable this functionality: from ScalpTool control panel choose "Trading" and then "Settings". As in the image, you have to flag the item "Enable Send Order Management" e then choose if you want to insert orders (flag in "Position and Delete") or make fills (flag in "Cross Order") or both.

At the bottom of classic book will be added a menu where you can manually insert orders or delete market's ones. Directly on the book lines you can insert a limit order by click on the quantity near the desired price. If you click on the price you will make a fill. If there are orange lines in the book, this means there are gaps in the prices: if you want to insert an order at that price, you can click on the contracts cell of the previous level.

Remember: you have to specify the quantity of your order in the bottom field of the menu.

How do I set alert levels?

You can set one alarm for Bid and one alarm for Ask for every opened classic book. You have to double click on the price directly on the classic book. This price will be written in its provided cell. Otherwise you can write the price directly in the cell. If the prices will go in market best, the grid of the classic book will highlight in red. To stop the cells highlight, you have to double click on the alarm cell.

What are the tab "min" and "MAX" in the classic book?

"min" e "MAX" tabs are indicators that highlight how daily minimums and maximums are tested by the market. Considering the "min" tab: everytime the daily minimum is reached, a line is added to the table with quantity, number of contracts, how long (Start - Stop) the price stayed in best and, eventually, fills at that price. The table will be erased everytime a new minimum occurs: following analysis will be based on this price. These indicators are usefull to understand supports/resistances.

How do I save my working desk?

From the ScalpTool control panel, click "Settings", choose "Desk", "Save Desk as ..." and click on an empty field of the column that will appear on the right. Act like this if you want to give a special name to the desk, or simply choose "Save as default": doing thath, you will open it every time you open ScalpTool.

How do I record a trading day and do backtesting?

It is possible to enable the recording of data flow for all open books, or for single one. In the first case, from the control panel of ScalpTool, choose "Tools", "Save data flow", "Enable all": doing so, the data will be recorded for all open books. If you want to record data flow for a single title, you must select the "#" from the menu of classic book and choose "Settings". You then flag "Save Flow." To stop recording you need to: in the first case, select "Tools", "Save data flow", "Disable all". In the second case, remove the flag from "Save Flow." To review the recording, select "Tools", "Review" from the menu of the control panel. Here you will find the list of securities which recorded sessions. Selecting one of the security symbol, it will appear a list of files listed by date  on the right. Select one of the available file and press "Load" and "Play": in this way you will play the recorded data flow on which you can work as if it was the real market.

Does exist any shortcut (keyboard commands) in ScalpTool?

Yes, it is possible to use the following commands (click on the image to enlarge it):

DOM (Depth of Market) and orders management

How do I open a DOM?

From the classic book you must press the "D" (DOM) from the control panel on the left . Please note that the classic book and the DOM are entities closely linked entities: it is not possible to keep open a DOM without the corresponding classic book.

How do I choose the DOM's layout?

ScalpTool allows you to choose between two different layouts called Master 1 and Master 2.
In Master 1, the columns are displayed in the following order: Price | Quantity | Number of Contracts.
In Master 2 it is allowed to choose among the following arrangement of the columns:
  • Price | Quantity Bid | Ask Quantity | Number of Contracts 
  • Bid Quantity | Price | Quantity Ask | Number Trades 
  • Bid Quantity | Ask Quantity | Price | Number Trades 
For choosing which layout to use, enter the menu of the ScalpTool  control panel and select "Settings" -> "Book".

How do I choose the order quantity?

At the bottom side of the DOM, there are 4 empty fields. Simply write the 4 required quantities and select the one you want to work with. In the image below the quantities have been set to: 1, 2, 5, 10.

How do I put a Limit Order in the DOM?

There are more ways. The quickest one is to click with the left mouse button on the DOM level where you want to place your order. Pay attention : placing an order requires that the mouse pointer has the "+" in case of BID order, "- " in case of ASK. Otherwise you will do a fill. There is also a graphical help: if you want to place an order on the BID side (green lines of the book), the mouse pointer  highlights  the cell in light green color. In case of order on the ASK side(red lines of the book) the mouse highlights the cell in red color. The second way is to open the classic order form and choose "Classical Orders Form" from item "TOL" of DOM menu. Once selected the quantity from the 4 ones you had set, enter the price you want and press the "Buy" or "Sell" button.

How do I buy / sell (make a fill) in the DOM?

It is very simple. In the DOM, simply click on the desired direction (Bid/Ask) and make a fill with the quantity you selected.Contrary to the previous point, there will be a fill in BID rows when the mouse has the symbol "-" and highlights the cell in red. In the Ask case, there will be a fill when the mouse has the "+" symbol and highlights the cell in green.

How do I put more than one Limit Order?

Just click with the left mouse button as in "How do I put a Limit Order in the DOM?" on the concerned levels. In case new orders are not created but the old one is moved to the selected level, you must be sure not to have the "Fast Order" enabled.

How do I move orders?

You can move an order via Drag & Drop . Click with the left mouse button on the order you want to move, hold down the left mouse button and drop it on the level of the book you want to move to. You can also move orders using the "Fast Orders" mode.

What is Fast Orders mode?

Fast Order mode allows you to move orders placed in the DOM very quickly, even faster than doing that with Drag & Drop. From the button bar of the DOM click on the "BFO". By doing so, other 4 buttons appear. As long as the button "FO" is not enabled,Fast Orders is NOT active. By clicking on "FO",the mode is ON: now if the button "1°" is enabled, and we click on the DOM on a level, the order closer to the best (both in Bid/Ask) will move to the selected level. If instead of "1°" you choose "L", the moved  order will always be the furthest one from the best. Finally, choosing "S" , the moved  order will always be the one furthest from the new  selected level.

Why I can not fill an order using the last level of the DOM, but I can put a Limiti Order?

The last level /row of the DOM is near to the 4 default quantities (fields frequently used). We prefer to protect the trader from accidental click: we think it is better a limit order instead of a fill.

How do I delete an order?

Just do right click of the mouse on the order row to be deleted.

How do I delete all the orders for a title?

There are 2 ways: by pressing the "C.All" button at the bottom of the DOM or by pressing the space bar of the keyboard.

How do I delete all orders in the market?

From the control panel of ScalpTool, press the "O.O." (Open Orders) button. In the menu of the new window there are two entries: "Remove all orders" erases all market orders (limit orders). The item "Remove ALL" ,instead, also deletes all conditional orders.

Can I see the priority of my order?

Press the "P.O." from the toolbar of the DOM or flag item VPO from item TOL. DOM will shows 2 new columns: the one on the left illustrates how many orders are queuing before ours, the one on the right the orders after ours.

What indicators have I on the DOM?

You have the following graphical indicators directly on the DOM:
  • min and max of the actual and previous candlestick;
  • pivol levels;
  • actual and previous VWAP;
  • actual and previous avarage price;
  • manual charts levels;
The time frame used by these indicators (the ones correleted to candlestick) is the one set in the candlestick chart of the classic book.

What is the difference between conditional orders on the server and on the client?

Conditional orders can be handled by ScalpTool in 2 ways: client side and server side. In the first case, client side, they are an emulation of real conditional orders. We provide this feature in case a broker does not give us the ability to use server side conditional orders. The obvious disadvantage is that the conditional orders will be deleted in case of turning off the PC, a network disconnection occurs or simply the closure of ScalpTool. Moreover, if the client is unable to correctly verify the conditions, ScalpTool can fail to trigger the conditional order.

Using server side, conditional orders live on the market servers: they are alive even when the computer is off or after a network failure. If it is possible, you should always use server side conditional orders.

How do I set a conditional order? And a stop loss?

You can use conditional orders server side or client side, but you must know advantages/disadvantages of both (you should read the answer at the previous question). Press "BCO" button on the DOM to open the conditional orders control bar. You can press "CO Local" to manage conditional orders client side. It will add a new column to the DOM and it will show a new menu at its bottom. As said before, client side conditional orders are managed locally in the client. You should always be aware that there is the possibilty to receive the data flow with a delay: the conditional order could then be executed at an undesired price. You can use the first item of the menu (see following image) to trying to avoid this problem: this shows the ticks gap between the alarm level that trigger the order and the maximum acceptable price order.

You can see in the following image that it was bought a piece at $1438,75. We added then a stop loss at price 1438,25 with an accepted delta of 3 ticks: we are agree to sell up to 1437,5.  The quantity, if not 0 (in this example 100), is used to check that the quantity on the level is fewer than the set one (100) before inserting the order in the market. If the quantity is not set (0), the system inserts the LIMIT order only when the alarm price is triggered.

Using the button "** ALL **", you will insert a conditional order with quantity equal to the portfolio's one, and it is recalculated automatically by the system if your position changes. "C.Cond LOCAL" deletes all client side conditional orders. If you press "VCL" from the button bar of the DOM, it will open a table showing all active client side conditional orders.

If you click on "CO Server" button, it will add a new menu at the bottom of the DOM for controlling server side conditional orders. It will also add a new column in the DOM. If you do not click any option from the new menu, clicking on the cells of the new column you will insert a conditional orders. Pay attention: when the condition is verified, it becames a market order (not a limit one). If you press "Stop Loss S", ScalpTool automatically inserts a stop loss after a fill. You can choose the number of ticks of the gap between the buy/sell price, and the delay (expressed in milliseconds) before insert the stop order. If your position will be closed not by the stop loss, this one will be deleted automatically. In the same way, if your position changes, the stop loss adapt itself automatically. If you press the button "C.Orders", it will delete all the orders (limit orders and conditional orders) in the DOM when the stop loss is filled. Pressing "C.Cond.Server" you will delete all server side conditional orders.

All conditional orders (client/server side) can be moved using Drag&Drop and deleted with both left or right click of the mouse on the cell of the conditional order/stop loss.

Why do I move the old limit order on the book, instead of putting more?

This happens probably because you have enabled the "Fast Orders" mode.

Indicators and charts

What is the Time & Sales?

The T & S shows all trades of a title done on the market. We report the quantity, the number of contracts, the price and the time at which the trade was made. It is generally used to understand the market trend.
There are 3 kind of Time & Sales in ScalpTool:
  • Classic: this shows every trade. With Mirus Futures it is disabled because we believe that, in a liquid market, it would be totally unreadable;
  • Advanced 1: trades are merged togheter in one line until happens a change in the price or direction;
  • Advanced 2: thank to our proprietary algorithm, this Time & Sales ia able to identify the burst of trades. It is the default one.

How do I open it?

From the DOM click on the "T & S" button.

What is the T & S MF?

The T & S MF (Mani Forti) allows you to filter the Time & Sales and can thus identify trades higher than the amount used as a filter. By setting the filter properly, this ticker gives important tips on how large investors (hence Strong Hands - Mani Forti) operate on a title.

How do I set two different amounts of T & S MF?

From the classic book press the "H" on the control bar on the right. The window will be lengthened by adding the menu linked to the TMF. By setting the two quantities near TMF1 TMF2 and then pressing the corresponding buttons, you can see how the T & S MF changes, leaving visible only trades occurred with quantity greater than or equal to the amount chosen in TMF (1/2). In the image below, you can see how the T & S MF shows only trades above 100, the quantity selected in the "TMF2".

What is the TMF (Trend Mani Forti)?

Click on the "H" button of the control panel of classic book to open "TMF". If you would see more lines of the TMF, press the "H" on the right side of the first. You can also open a window dedicated to "TMF" by clicking on the "View" menu of classic book and selecting "External TMF". The "TMF" can help understanding the trend of big investors.

How do I set the two different quantities of TMF?

See the section "How do I set two different amounts of T & S MF?"

Can I add sounds to the TMF?

You have to enable the TMF's sounds globally and then title by title. From the control panel of ScalpTool, click on "Settings" -> "Book" -> "Audio" -> "TMF" and choose between the system beep and a pre-loaded wav sound; these steps enable the TMF sound in ScalpTool. Now, you have to enable the sound on every title you desire: from the classic book, press "#" -> "Settings" and flag "Sound TMF". Using the TMF's sound is really helpfull to understand the market direction without distracting from the books.

What is the Buy and Sell chart?

You can open the "Buy & Sell" chart in 2 ways: from the classic book, press "View" -> "External Chart". This will open a new window with a candlestick chart. From "Indicators" iterm's menu, select "Buy & Sell". Besides, you can open the chart pressing the button "G" from ScalpTool control panel on the left of the classic book. On the bottom side of the classic book it will open a candlestick/linear chart: on the bottom right you can find the button "Buy & Sell".

Clicking directly on the "Buy & Sell" chart, you can change the type of chart: from bars to linear (as in the image below).
"Buy & Sell" indicator helps to understand the market direction and follow its trend. In the time frame (choosen in the candlestick chart), the indicator evaluates the numbers of purchases/sales, their delta, the maximum quantity of both ones and the gap between the delta and the average of the last N periods.
In the video below, it is explained how to use the Buy & Sell indicator to find the breaks of the market.

Why can I not see the candlestick chart and the "Buy & sell" chart is made by only one bar?

Probably because your system has clock time with "A.M/P.M.". You should download the last version of ScalpTool to resolve this problem. Otherwise, you can change your system time format to be as the following one: "HH:mm:ss".

View your actual situation

How do I see my P / L (Profit and Loss)?

You can see your P / L directly from the control panel. In case you want to see the transaction details, click on the "Perform." button from the control panel. This will open a window where you can see the P / L for each individual transaction or by selecting the tab "By Code", grouped by security.

How do I see the orders in the market?

From the control panel, simply click on "O.O." (Open Orders) to view market orders (Limit Orders) and conditional orders. In the latter case, just select the tab "Condition".

How do I see filled orders?

From the control panel, simply click on "F.O." (Filled Orders).

How do I see my portfolio?

From the control panel, simply click on "Port."

Why is there a difference between the Profit and Loss shown in the DOM and the Gain Theoretical shown on the Control Panel?

Profit and Loss shown in the DOM (in the cells showing your "Position") is based on the Last trade.
The Theoretical Gain, instead, shows the hypotetical Profit/Loss if the position was closed in that moment.