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Depending on what kinda software you use you can actually see X amount of contracts got filled...Footprint or several variations of Time and Sales will do that. You have an order in but can see there are 230 contracts waiting there and price comes up and touches it but only 44 go off before trade goes the other way... Scalping for a few ticks guys need to just take their chances of getting filled but when you are going for bigger targets you can be more aggressive and give up a tick or two...I just hit buy or sell the bid or ask at a level that interests me.
Also, there are no shortage of "next times" in the market...stay calm and you have a chance at making that work. Go for "revenge" and pain will be your good friend...
Good luck,
Craig
Until you make the Unconscious conscious, it will direct your life and you will call it Fate...
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
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Posts: 5,049 since Dec 2013
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I believe that each layer of an iceberg counts as a new order from "position in order book queue" perspective, (if I didn't why would you ever enter any order other than an iceberg?) and hence the second layer of the iceberg would be behind him.
as some have pointed chk n learn how the limit order book works...many doms show u what is happening n what happened....the day u understand how aggressive/passive limits work,,,,many things come 2 light...showing a pic on how aggressive limits r sent n sits/executed in the order book....
This is perhaps a good opportunity to highlight the importance of understanding exactly what a market is. It's not the price. It hurts my ears a bit when I hear (or read) people say: "price went up" ... so, "price" isn't an entity, or a thing, and it can't do anything. Another word for "price" is "last" or "last traded price." The market is the collective group of bids and offers at various price levels that exist at any given time. Why? Because you can't trade "price" -- you must have a bid or offer to hit to actually execute a transaction (or, your bid/offer must be hit by someone else). So, the market is the only thing you can actually trade against, and where it lies (specifically the inside bid/offer, that is, the highest bid and the lowest offer) is far more important than the last traded price (which can be significantly different).
So, looking at it from this perspective, you now understand that "price" is simply a past (by the time you see it print) record of a transaction that has occurred. If "price reaches your target" it means that one or more transactions did execute at the price you are willing to sell, but since yours didn't execute, there simply weren't enough orders to buy at the price you were offering at for you to get a fill. That is, as others have explained, you did not make it to the front of the line.
