Question About DOM And Limit Orders - futures io
futures io



Question About DOM And Limit Orders


Discussion in NinjaTrader

Updated
    1. trending_up 690 views
    2. thumb_up 1 thanks given
    3. group 1 followers
    1. forum 4 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Question About DOM And Limit Orders

(login for full post details)
  #1 (permalink)
zaruski
Salt Lake City, UT
 
 
Posts: 11 since Jun 2017
Thanks: 0 given, 1 received

Hi,

I have been using NT8 for playback trading and I have a question about Limit Orders via the DOM.

I can't create a screenshot right now, but:

There are 3 columns on the DOM. On that lets me Buy, one that shows prices, and another that lets me Short.
Sometimes I will click on, say, 3-5 ticks away from the current price and my order will immediately be filled. Other times it will cover the row I picked in a green bar that says "LIMIT".

My question is, how do I know when my order will immediately be filled, and when it will remain on "LIMIT". If it is on Limit, how do I tell when it will be filled?

I'm probably not using the right terminology here, but I hope it makes sense. Any pointers would be helpful. I'm just learning at the moment.

Thanks!

Reply With Quote

Journal Challenge April 2021 results (now extended!):
Competing for $1800 in prizes from Jigsaw
looks_oneMaking a Living with the Microsby sstheo
(238 thanks from 25 posts)
looks_twoSalao's Journalby Salao
(60 thanks from 12 posts)
looks_3Deetee’s DAX Trading Journal (time based)by Deetee
(48 thanks from 18 posts)
looks_4Learning to Profit - A journey in algorithms and optionsby Syntax
(37 thanks from 15 posts)
looks_5Maybe a little bit different journalby Malykubo
(17 thanks from 16 posts)
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Crude Dude Oil Trading System
83 thanks
Big Mike in Ecuador
76 thanks
Help improve the FIO community
41 thanks
The New Micro Contract - MICRO BITCOIN coming May 2021
29 thanks
Webinar: Seven Trading Mistakes Solved With Smart Tradin …
26 thanks
 
(login for full post details)
  #2 (permalink)
 xplorer 
Site Moderator
London UK
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
 
xplorer's Avatar
 
Posts: 5,350 since Sep 2015
Thanks: 13,486 given, 12,940 received


zaruski View Post
Hi,

I have been using NT8 for playback trading and I have a question about Limit Orders via the DOM.

I can't create a screenshot right now, but:

There are 3 columns on the DOM. On that lets me Buy, one that shows prices, and another that lets me Short.
Sometimes I will click on, say, 3-5 ticks away from the current price and my order will immediately be filled. Other times it will cover the row I picked in a green bar that says "LIMIT".

My question is, how do I know when my order will immediately be filled, and when it will remain on "LIMIT". If it is on Limit, how do I tell when it will be filled?

I'm probably not using the right terminology here, but I hope it makes sense. Any pointers would be helpful. I'm just learning at the moment.

Thanks!

it sounds like you are only buying and selling using limit orders via the DOM.

Chances are: when you are placing a limit order to BUY, and that order is BELOW where the market is, then it stays as limit order until it gets filled. There is no way to tell if and when it'll get filled.

When you are placing a limit order to BUY, but that order is ABOVE where the market is, then the platform interprets your action as wanting to buy at market and the order is converted from limit to market, hence immediately filled.

Reply With Quote
The following user says Thank You to xplorer for this post:
 
(login for full post details)
  #3 (permalink)
zaruski
Salt Lake City, UT
 
 
Posts: 11 since Jun 2017
Thanks: 0 given, 1 received


Thank you!

Also, do you know if there a way to execute a trade precisely at a certain price? What I am trying to do is to put an order a certain amount of ticks away from the current price so that if the price puts in a big move, the order will trigger and I will be able to scalp a handful of ticks before it corrects. Right now, the order sometimes gets filled, and sometimes doesn't. There has to be a way to do that...

Reply With Quote
 
(login for full post details)
  #4 (permalink)
 xplorer 
Site Moderator
London UK
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
 
xplorer's Avatar
 
Posts: 5,350 since Sep 2015
Thanks: 13,486 given, 12,940 received


zaruski View Post
Thank you!

Also, do you know if there a way to execute a trade precisely at a certain price? What I am trying to do is to put an order a certain amount of ticks away from the current price so that if the price puts in a big move, the order will trigger and I will be able to scalp a handful of ticks before it corrects. Right now, the order sometimes gets filled, and sometimes doesn't. There has to be a way to do that...

What you are describing is exactly the behavior of a limit order.

Sounds like you need some 101 on order types - this link hopefully will help


Introduction To Order Types

Reply With Quote
 
(login for full post details)
  #5 (permalink)
 xplorer 
Site Moderator
London UK
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
 
xplorer's Avatar
 
Posts: 5,350 since Sep 2015
Thanks: 13,486 given, 12,940 received


xplorer View Post


zaruski View Post
Thank you!

Also, do you know if there a way to execute a trade precisely at a certain price? What I am trying to do is to put an order a certain amount of ticks away from the current price so that if the price puts in a big move, the order will trigger and I will be able to scalp a handful of ticks before it corrects. Right now, the order sometimes gets filled, and sometimes doesn't. There has to be a way to do that...


What you are describing is exactly the behavior of a limit order.

Sounds like you need some 101 on order types - this link hopefully will help


Introduction To Order Types

I was reading again this and I may have misinterpreted what you asked.


A limit order lets you place a buy order below market price or a sell order above market price. With a limit order, if you are filled, you are guaranteed that the price was the one that you set the order at.

However, if you say


Quoting 
What I am trying to do is to put an order a certain amount of ticks away from the current price so that if the price puts in a big move, the order will trigger and I will be able to scalp a handful of ticks before it corrects.

It sounds like you are looking for situations where the current price goes against your order but then keeps going in the same direction for a while so that you can scalp a few ticks before it comes back.

That would not be a limit order.

If the price shoots up you would probably want a buy stop order, and if it shoots down you would want a sell stop order.


I won't comment on the profitability, skill, suitable markets or feasibility of what you are looking for.

Reply With Quote


futures io Trading Community Platforms and Indicators NinjaTrader > Question About DOM And Limit Orders


Last Updated on August 19, 2017


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1,800 in prizes!

April
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts