NexusFi: Find Your Edge


Home Menu

 





ES vs CL order fullfillment


Discussion in Commodities

Updated
      Top Posters
    1. looks_one kronie with 1 posts (0 thanks)
    2. looks_two himmel with 1 posts (0 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 RichardHK with 1 posts (1 thanks)
    1. trending_up 3,325 views
    2. thumb_up 1 thanks given
    3. group 2 followers
    1. forum 3 posts
    2. attach_file 0 attachments




 
Search this Thread

ES vs CL order fullfillment

  #1 (permalink)
 himmel 
San Francisco
 
Experience: Intermediate
Platform: SierraChart
Trading: CL , Emini
Posts: 10 since Feb 2011
Thanks Given: 2
Thanks Received: 6

I'm typically a CL trader but I've been playing around with an ES practice/paper trading account. So far I've noticed some very different aspects with order fulfillment...on my CL live accounts I almost always get my order filled on both sides (entry and exit)...I would say 95 percent of the time...unless things are extremely volatile.


On the ES I noticed it acts in a more of a first-come-first-serve manner and I'm interested in hearing comparisons for the two...I could see that as an issue with exits...particularly if you were hindsight trading...even if a price point is touched it doesn't necessarily mean your order would have been filled.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Request for MACD with option to use different MAs for fa …
NinjaTrader
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
58 thanks
Battlestations: Show us your trading desks!
55 thanks
NexusFi site changelog and issues/problem reporting
48 thanks
What percentage per day is possible? [Poll]
31 thanks
GFIs1 1 DAX trade per day journal
29 thanks

  #3 (permalink)
 RichardHK 
Hong Kong
 
Experience: Intermediate
Platform: NinjaTrader, TWS
Broker: IB/Kinetick
Trading: ES
Posts: 236 since Jan 2012
Thanks Given: 132
Thanks Received: 340


The difference is in the depth of market. CL may be filling you more easily because there are simply less orders at price in front of you before your fill. For the ES you may have dozens or hundreds of orders in front of you, so needs time, as well as exhaustion of all orders in front of you. Both markets should be filling on first come first served.

Richard
Hong Kong
Reply With Quote
The following user says Thank You to RichardHK for this post:
  #4 (permalink)
 
kronie's Avatar
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009


RichardHK View Post
The difference is in the depth of market. CL may be filling you more easily because there are simply less orders at price in front of you before your fill. For the ES you may have dozens or hundreds of orders in front of you, so needs time, as well as exhaustion of all orders in front of you. Both markets should be filling on first come first served.

there are some order types that precede and jump ahead in the priority queue than others,
some of the lowest level priority are the limit or resting orders (there are so many types and combinations)

ES, with its plethora of retail participation, will naturally have a vast excess of orders at each handle (defined as depth) than the more restrictive CL contract, or GC, or SI or 6E. whether through higher common intra-day margin requirements or higher ATR and drawdown, those contracts listed above vary vastly from the ES, and its accessibility to the retail customer..

Reply With Quote





Last Updated on July 9, 2013


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts