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I entered a short position in the future of the Canadian dollar at 0.7760. My target was 0.7750 from the moment I made the entry. I was among the first to have a buy limit order at 0.7750, my target. When the price reached 0.7750, they executed 64 + 19 + 33 = 166 sales to the market (see footprint chart, time 16:43 , 16:47, 16:48). Why was my target not filled? I was one of the first to put the buy limit order in the order book. When I placed my target at 0.7750 at the time of the short entry there were only 15 buy limit orders.
Can someone tell me what happened? I don't understand why if I was one of the first to put a buy limit order at 0.7750, ¿why it has not filled?
THANKS
Can you help answer these questions from other members on NexusFi?
I can see why this can be a problem prioritizing the big boys, unless you sure you put the order before the order book stacked to 116, or maybe how fast your order hit the book.
I'd think you'd need an accurate way to confirm your queue position to rule out other large orders having been queued just before yours.
You might consider the internet latency between the exchange and your location.
Another thought is, if you are trading from the chart, maybe Ninjatrader did some kind of cancel/change during dragging the mouse.
If the first bar hitting 64 isn't getting filled is probably make sense since they use order priority, but not getting filled after the 2nd and 3rd try is bad and strange indeed.
I see there is a new CME product - FX Link - that began trading this week, allowing basis spread trading between CME FX Futures and OTC Spot FX. It includes USD/CAD in the list of currencies that can be traded.
