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Bid- and Ask- Price - what is the price shown on the chart?
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Bid- and Ask- Price - what is the price shown on the chart?

  #1 (permalink)
Trading Apprentice
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Bid- and Ask- Price - what is the price shown on the chart?

Hello!

I hope somebody can help me.
The following pic is a screenshot of the fgbl 5000- Volume.

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First trade was long @ 158.67 with a TP of 8 tick and a SL of 4 tick. If i assume that i get the fill, the result would be - 4 ticks.
On the second trade, i put the trigger at long @ 158.64, but the trigger was not activated.
Third trade: Long @ 158.70, two candles after the trigger the tail of hammer reached the long- trigger @ 158.70. Assuming i would get the fill, the result would be + 8 ticks.

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This is the value window of the red hammer on the right. The low is 158.70.
Question:How do I know if the the low of the candle (158.70) is the the ask or the bid- price?
Ask- Volume is 2401 contract, but this number is over the 5- tick range of the candle, right?
Is it right to assume, that at any time of this candle, the ask price has dropped to 158.70 and I would probably get filled?

Would be nice if someone could help me....

P.S.: the DOM has no values in my sierrachart for some.....reasons.


Last edited by svedan; February 13th, 2018 at 01:09 PM.
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  #3 (permalink)
Learning to use The Force
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Don't know if this will help, but you can enable live bid/ask lines on the chart by clicking on Chart->Show Bid/Ask Lines.

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  #4 (permalink)
Trading Apprentice
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Thank you, but no, unfortunately it doesn't work. Maybe because i only have the standard- package (24 USD/month).

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Market Wizard
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svedan View Post
Is it right to assume, that at any time of this candle, the ask price has dropped to 158.70 and I would probably get filled?

IMO you cannot make reliable assumptions when looking at SIM results and the price where you had the order was not traversed. By 'traversed' I mean it went at least one tick against you, which confirms you would have been filled.

For the more general question 'what is the price shown on the chart in terms of bid and ask' the answer would be 'whatever price was traded at the time, whether at bid or at ask.

Does it make sense?

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xplorer View Post
IMO you cannot make reliable assumptions when looking at SIM results and the price where you had the order was not traversed. By 'traversed' I mean it went at least one tick against you, which confirms you would have been filled.

Yes, i read several times that the price has to traverse the trigger- price (Long @160.70, price has to go down to 160.69).
My naive guess was that in my example the long- signal @ 158.70 some of the 2401 traded contracts on the ask- side could be my fill (let's say 10 contracts). But I don't know on which price (price range is 5 ticks) the 2401 contracts are traded on the ask side.


Quoting 
For the more general question 'what is the price shown on the chart in terms of bid and ask' the answer would be 'whatever price was traded at the time, whether at bid or at ask.
Does it make sense?

I think so. The 2401 contracts on the ask- side are traded anytime, anywhere during the 5000 contracts traded.
thanks for the input.

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Market Wizard
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svedan View Post
Yes, i read several times that the price has to traverse the trigger- price (Long @160.70, price has to go down to 160.69).
My naive guess was that in my example the long- signal @ 158.70 some of the 2401 traded contracts on the ask- side could be my fill (let's say 10 contracts). But I don't know on which price (price range is 5 ticks) the 2401 contracts are traded on the ask side.


I think so. The 2401 contracts on the ask- side are traded anytime, anywhere during the 5000 contracts traded.
thanks for the input.

They could be your fill but it depends on what time, in a live environment, you placed the order and what position in the queue you were.

The thing with bid and ask is, there's never just one price, there's always the price traded at bid and ask simultaneously, which means that if the bid/ask are 160.69/160.70, at that moment in time any sell market order will trade at .69, and any buy market order will trade at .70.

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xplorer View Post
They could be your fill but it depends on what time, in a live environment, you placed the order and what position in the queue you were.

The thing with bid and ask is, there's never just one price, there's always the price traded at bid and ask simultaneously, which means that if the bid/ask are 160.69/160.70, at that moment in time any sell market order will trade at .69, and any buy market order will trade at .70.

Thanks for the great info

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