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Psychology and Money Management

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New to Futures, but Hitting the Wall

  #34 (permalink)

Orlando, Florida United States
Trading Experience: Intermediate
Platform: MultiCharts
Favorite Futures: ES
Posts: 9 since Nov 2010
Thanks: 5 given, 2 received

Check your fills


Bend, Oregon is really beautiful. One summer I worked on a fire crew fighting forest fires.

However, when someone is starting to trade you should know that the CME states that electronic trading is instantaneous. And that is true. Electricity moves at the speed of light. When the mouse is clicked to send in a trade, even before you can remove your finger from the mouse, the order has been received and a fill has been made.

The CME also states that when an order has been received it will be filled at the close of price the instant the order is recognized. This is something you should check. Get someone to help you and make a test. Trade only one contract. When you send in a trade have your friend write down the current price at the moment you click the mouse. Also, write down the time. If everything goes the way the CME has said, then the amount of the fill that you receive should be the same value as the current price on your monitor.

If the amount of the fill is substantially different, then you should suspect a problem. You wrote down the time the order was sent in - now watch the market and see how long the market has to trade before it reaches the same amount as the fill that you received. Now write down the time when the market finally reaches the same amount as the fill you received. Some people have noticed that it took a half hour before the market reached the same value as the amount of the fill that they received. When you think this over, you will realize that the amount of such a fill did not exist at time it was given.

All the best,


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