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Trying to wrap my head around bid/ask to be able to read market correct.
Lets say I am buying 500 contracts and place a limit order. Order gets executed and I now have 500 contracts. Will these contracts be visible in prints on the bid side?
So after a couple of days I want to sell since I have made a profit, so to close 500 contracts I have to SELL and in this case I place a SELL limit.
And if the contracts are sold, will it be then visible in footprints on the ASK?
Can you help answer these questions from other members on NexusFi?
I’m still learning how to use the DOM, so take my explanation with a grain of salt. It’s my understanding that limit orders would be reflected as a decrease or increase in the numbers displayed in the Bid or Offer columns. Say, if you bought 1 the bid number would increase from 3 to 4. Whereas if you used market orders they would be reflected in the Sold or Bot columns.
I found a good explanation on the DOM at
My question was hypothetical regarding footprints and what numbers would appear and in what column, bid or ask.
Since its a limit order, it will be available in the DOM but when executed and transacted it should be displayed in footprints - or am I wrong?
If I am short 10 contracts in lets say gold and I want to close it, I need to buy 10 contracts to close it - are these 10 contracts bought visible in footprints?
Yes, the trade(s) will show in the footprint. Some trades happen on the bid, some on the ask. It is possible for your trade to execute on the bid and/or ask if you have more than one lot, and use a market order. The market can move as your order executes, potentially causing a range of fill prices until your order is filled.
On a footprint chart, if you buy at market or sell with a limit order it will show on the ‘ask’ side. If you sell at market or buy with a limit order it will show on the ‘bid’ side.
