Quick Question About Getting Filled! :) - Traders Hideout | futures io social day trading
futures io futures trading


Quick Question About Getting Filled! :)
Updated: Views / Replies:1,839 / 4
Created: by TradeAction Attachments:0

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 
Thread Tools Search this Thread
 

Quick Question About Getting Filled! :)

  #1 (permalink)
Washington State
 
Trading Experience: Intermediate
Platform: SC & NT
Broker/Data: AMP. CQG
Favorite Futures: RTY, CL
 
TradeAction's Avatar
 
Posts: 49 since Sep 2014
Thanks: 63 given, 43 received

Quick Question About Getting Filled! :)

Does price have to trade "through" my Buy Limit Order to get filled or can it get filled if the market just touches it and trades there?

ie. Lets assume that CL is trading 45.55 and I want to buy the market when it pulls back to 45.45. So I place a Buy Limit Order at 45.45. Price finally reaches 45.45 but it only touches and trades at 45.45. Will I get filled? Or will price have go through 45.45 and trade at 45.44 to trigger the trade?

Hope that made sense...

Thank you in advance for whoever helps!


Last edited by TradeAction; November 27th, 2016 at 06:15 PM.
Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Super Moderator
London UK
 
Trading Experience: Beginner
Platform: CQG
Broker/Data: S5
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 4,823 since Sep 2015
Thanks: 11,880 given, 10,529 received



TradeAction View Post
Does price have to trade "through" my Buy Limit Order to get filled or can it get filled if the market just touches it and trades their?

ie. Lets assume that CL is trading 45.55 and I want to buy the market when it pulls back to 45.45. So I place a Buy Limit Order at 45.45. Price finally reaches 45.45 but it only touches and trades at 45.45. Will I get filled? Or will price have go through 45.45 and trade at 45.44 to trigger the trade?

Hope that made sense...

Thank you in advance for whoever helps!

hi TradeAction

You seem to confuse "market order" and "limit order".

A market order guarantees you entry in the market but you are not guaranteed at what price. If you want to 'buy the market' as specified above you can't buy for sure at 45.45. You buy at market and you get what the best offer is at the moment.

A limit order, on the other hand, guarantees that you will pay the price you identified (or, in some occasions, a better price for you), but it does not guarantee that you will be filled.


So in your example above, if you place a Buy Limit order at 45.45 and the market goes down there, whether you will get filled or not depends on how many Buy Limit orders are in the queue before you. Say you're last in a queue of 10 contracts and the market trades there but only 2 contracts are sold off and price retraces up, you won't get filled.

If, on the other hand, price does go through and starts trading 1 tick lower than your Buy Limit order (in your hypothetical case price would have to trade at 45.44), then in that case it doesn't matter which position you are in the queue, you will have been filled.


Hope this helps.


Last edited by xplorer; November 27th, 2016 at 04:43 PM.
Reply With Quote
The following 2 users say Thank You to xplorer for this post:
 
  #4 (permalink)
Washington State
 
Trading Experience: Intermediate
Platform: SC & NT
Broker/Data: AMP. CQG
Favorite Futures: RTY, CL
 
TradeAction's Avatar
 
Posts: 49 since Sep 2014
Thanks: 63 given, 43 received


xplorer View Post
hi TradeAction

You seem to confuse "market order" and "limit order".

A market order guarantees you entry in the market but you are not guaranteed at what price. If you want to 'buy the market' as specified above you can't buy for sure at 45.45. You buy at market and you get what the best offer is at the moment.

A limit order, on the other hand, guarantees that you will pay the price you identified (or, in some occasions, a better price for you), but it does not guarantee that you will be filled.


So in your example above, if you place a Buy Limit order at 45.45 and the market goes down there, whether you will get filled or not depends on how many Buy Limit orders are in the queue before you. Say you're last in a queue of 10 contracts and the market trades there but only 2 contracts are sold off and price retraces up, you won't get filled.

If, on the other hand, price does go through and starts trading 1 tick lower than your Buy Limit order (in your hypothetical case price would have to trade at 45.44), then in that case it doesn't matter which position you are in the queue, you will have been filled.


Hope this helps.

Ok! Thanks for helping me out with this one. I really needed some clarification on this and now it finally makes sense.

So it looks like its more of a first come first serve situation with Limit Orders.

And if the market trades lower than the Buy Limit the order will be filled regardless of where I am in "line" or queue.

Thanks again for the clarification.

Reply With Quote
The following user says Thank You to TradeAction for this post:
 
  #5 (permalink)
Super Moderator
London UK
 
Trading Experience: Beginner
Platform: CQG
Broker/Data: S5
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 4,823 since Sep 2015
Thanks: 11,880 given, 10,529 received


TradeAction View Post
Ok! Thanks for helping me out with this one. I really needed some clarification on this and now it finally makes sense.

So it looks like its more of a first come first serve situation with Limit Orders.

And if the market trades lower than the Buy Limit the order will be filled regardless of where I am in "line" or queue.

Thanks again for the clarification.

Yes, it is a case of first come first served.

If the market trades lower it simply means that all the limit orders at the level you had placed yours get scooped up (including yours obviously).

Reply With Quote
The following user says Thank You to xplorer for this post:

Reply



futures io > > > Quick Question About Getting Filled! :)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

$1,000 in Amazon Gift Cards being given away right now from GFF Brokers

Right now
 

$250 Amazon Gift Cards with our "Thanks Contest" challenge!

Right now
 

Show us your trading desks and win over $5,000 in prizes w/Jigsaw Trading

August
 

Webinar: AutoTrading World Cup Advisor w/GFF Brokers

Aug 22
 

Webinar: Suri Duddella (TBA)

Elite only
 

Webinar: Richard Bailey (TBA)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
To be filled or not to be filled is my question tulanch Traders Hideout 13 August 4th, 2016 05:57 PM
Quick thinkscript question sra18376 ThinkOrSwim 1 October 16th, 2015 08:53 PM
Quick question - Daily Open damnpenguins EasyLanguage Programming 4 March 5th, 2014 04:39 PM
Quick ninjascript error and question. jtradr NinjaTrader Programming 2 February 16th, 2011 08:25 PM
Quick ADXVMA question... BigDog Traders Hideout 6 December 3rd, 2009 09:07 AM


All times are GMT -4. The time now is 07:32 PM. (this page content is cached, log in for real-time version)

Copyright © 2019 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