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Order Issue
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Created: by edricoon Attachments:2

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Order Issue

  #1 (permalink)
Trading Apprentice
Penang + Malaysia
 
Futures Experience: Beginner
Platform: Ninjatrader
Favorite Futures: Currency
 
Posts: 2 since Apr 2015
Thanks: 0 given, 1 received

Order Issue

HI,

I went short EURNZD at 1.4045 around 23:00 17/4/2015 (UTC+8) and set a BUY LIMIT order at 1.4028 for profit target. However, my order wasn't filled even when the two candlesticks I shown in attachment crossed over my BUY LIMIT order level. It was not ONCE, but TWICE, and yet my order wasn't filled in the end.


Candlestick 1
Time: 00:00
Price: 1.4036
Open: 1.4038
High: 1.4038
Low: 1.4026
Close: 1.4032

Candlestick 2
Time: 00:30
Price: 1.4036
Open: 1.4032
High: 1.4041
Low: 1.4027
Close: 1.4039

As shown above and in the attachment, the price hit 1.4026 and 1.4027 which were lower than my BUY limit order and yet my order wasn't filled at all.

Would it be possible that my order couldn't get filled? Why didn't I get filled?

Sorry for the immature question. Newbie here!

Attached Thumbnails
Order Issue-18042015-0000-candlestick-1.jpg   Order Issue-18042015-0030-candlestick-2.jpg  
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  #2 (permalink)
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  #3 (permalink)
Elite Member
asheville north carolina USA
 
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edricoon View Post
Why didn't I get filled?

A limit is an order to buy at a specific price or better. I am assuming you know this, if you are trading with skin in the game, and are probably aware of the different order types. If not I highly reccomend a visit to Inestopedia: http://www.investopedia.com/university/intro-to-order-types/I would think that for a sure entry or exit you would need to use a "market order" or a "market if touched" order type. While MIT does not insure an excact fill price it does insure a fill but with a chance for slippage.

I am a begginer also, so maybe someone with a bit more experience will enlighten you further.
Good Luck!

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
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  #4 (permalink)
Trading for Fun
West Java
 
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edricoon View Post
HI,

I went short EURNZD at 1.4045 around 23:00 17/4/2015 (UTC+8) and set a BUY LIMIT order at 1.4028 for profit target. However, my order wasn't filled even when the two candlesticks I shown in attachment crossed over my BUY LIMIT order level. It was not ONCE, but TWICE, and yet my order wasn't filled in the end.


Candlestick 1
Time: 00:00
Price: 1.4036
Open: 1.4038
High: 1.4038
Low: 1.4026
Close: 1.4032

Candlestick 2
Time: 00:30
Price: 1.4036
Open: 1.4032
High: 1.4041
Low: 1.4027
Close: 1.4039

As shown above and in the attachment, the price hit 1.4026 and 1.4027 which were lower than my BUY limit order and yet my order wasn't filled at all.

Would it be possible that my order couldn't get filled? Why didn't I get filled?

Sorry for the immature question. Newbie here!

... Long story short, you need to take the spreads into account.
if you want to buy @ 1.4028, and the spread is 3 pips, then set the buy limit @ 1.4031.


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