alright, so here it is, I live trade with VelocityFutures with TT data feed and use NinjaTrader . . . and this has happened to me a lot.... the current market price is HITTING my target, several times, and stays on it, for almost a minute,,,,,, and it simply doesn't take me out with my profit . . . . . . of course, there are times, when this happens, but eventually I'm taken out with my profit ................ my question: Why does this happen?
yes, I understand that there are orders ahead of me, people that are just ahead of me in line, so yeah, I know I have to wait, but when my target is getting hit several times and it last for more than a minute, this is so frustrating.... I'm trying to understand why this happens.... is it my internet connection? OR the exchange and/or the broker OR NinjaTrader OR ????? . . . . . . . . . . supposedly, all traders trading (in the market) should be treated equally.... or are priorities set for who gets filled next ?
This is perfectly normal. Your position in queue will reflect when your order is filled, if everything is equal like we like to believe it is (hint: it probably isn't). If you modify your order or if you are setting your exit order (profit target) "late" in the game, it will be behind everyone elses.
On some markets like the ES, this means you will wait a while to be filled if the last trade doesn't trade through your order (the bid or ask depending on if you are long or short). On some thinner markets like CL it doesn't happen as much, as price is always moving several ticks in all directions at any given time.
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Interesting comment. I assume you mean things are not equal due to latency, ability to pull order quickly, skill, etc. Once two orders are in the queue, they should be treated equally and executed in order. If they aren't, everyone should pack up and stop trading now.
The following user says Thank You to aslan for this post:
I'm doing the ES . . . . . you say "My trading technique is based not on 'hitting' a price level as your describe but 'passing' a price level. I never have to wait, I always get filled." ,,,,,,,,,,,, please elaborate ??
Ninja should have the possibility to show a double line on the chart that goes up or down with price, this line would represent the bid and the ask, this way you would better see why you did not get executed. When i was trading the Forex market i was using Metatrader and it was possible to show the bid and the ask as a double-line. This same event occured to me when i was relatively new to trading. The first time it occured to me, i thought this was a mistake from my broker. I could see that price kissed my stop or target but i did not get filled. It's only when i could see the bid and ask directly on the chart that i saw the light. Your problem seems to be related to this aspect. With Ninja, what you see on a chart is not necessarily what you get.
P.S. Michael has had a tough week or what!
The following user says Thank You to trendisyourfriend for this post: