Description of problem

Conservative manual execution requires the user to go through the entire "Review & Send" flow multiple times just to do simple price improvements.

Example: A spread is entered for a $1.15 credit, with a bid/ask at $1.00/$1.25. No fill after 10 minutes. Willing to give up more to get filled and feeling some urgency, we want to improve our offer to $1.10. Right now, we have to

right click "Replace Order" somewhere it's available,
find the "v" button to lower our offer (in the bottom order placement),
click "Review & Send" and
confirm. Then we have to hunt back the overview page we came from, wherever we were (we lost the context just to make the small price improvement). This has to be repeated
multiple times - if the spread is really wide and we want to do this multiple times - and
for each concurrent offer - if we have very many positions on.

Such a common, trivial adjustment should be possible to carry out with a single click from the positions overview or anywhere "Replace Order" is available, remaining in context. This also brings us to a place in usability where such incremental price improvements may be used much more frequently, improving our fill prices on average. The full flow shouldn't be required just to improve one's bid by one price increment.

User Impact

In less-than-ideal markets where you don't get filled quickly, you have to go through multiple round-trips of the full "Review & Send" flow. There are situations where one is impatient and doesn't want to wait too long to get filled (e.g., Earnings exits).

In fact, more importantly is the fact that because of this, we more often than not start at the midpoint where we would do better start offering off the midpoint (i.e., a price slightly better for us). Ideally if a spread is at least a few pennies wide, I'd like to always start offering somewhere a little bit off the midpoint by default, and incrementally improve my offer over time. Making it easy to do that would improve my execution, because there are many times I fill instantly - and regret not starting at a better price.

So in concert with a quick "nudge" button to improve one's price you may want to also add a configuration setting for how much to offset one's price by default, e.g. 5% off the mid price.

Desired Behavior

Something like a little button right in the positions view would fit the bill:

Here nudging the purple "+" button would improve the price of that offer without going through the full flow.

Additional Notes I suspect there may be some verifications required on BPR and margin that occur only during the "Review & Send" flow. It would be a reasonable compromise to preemptively carry out the verifications and allocations assuming improved prices (and potentially slightly worse BPR) in order to speed up and/or enable this feature.

Platform Details TW version: 1.14.6 OS: Linux PopOS! (System76 derivative of Ubuntu 20.10) Java: Zulu11 lumia:~$ java -version openjdk version "11.0.11" 2021-04-20 LTS OpenJDK Runtime Environment Zulu11.48+21-CA (build 11.0.11+9-LTS) OpenJDK 64-Bit Server VM Zulu11.48+21-CA (build 11.0.11+9-LTS, mixed mode)

(I'd love to see this! Help me place even more orders quickly!)

edgebips / tastybugs

Feature request: Price improvement nudge button #12

Description of problem

User Impact

Desired Behavior