CL Redux

Quote from Picaso:

Sorry that you didn't get filled.

Could you please specify what order type you used: a stop limit? Stop price? Limit?

You cannot possibly have introduced a 79.17 buy limit order when you first announced it, because then you would have got a fill at a much lower price (whatever the Ask price had been at that moment).
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Yes I did LMT but right when it was hitting 79.16........what type of order I could use if I want to buy automatically once the price hit 79.17 from the downside to the upside.

I am done for the day, but will like to know since I missed because of that 13 ticks today and yesterday almost 50 ticks.
 
Quote from mrbochin23:

Yes I did LMT but right when it was hitting 79.16........what type of order I could use if I want to buy automatically once the price hit 79.17 from the downside to the upside.

I am done for the day, but will like to know since I missed because of that 13 ticks today and yesterday almost 50 ticks.
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You use BookTrader or the order management page?

If you want to automatically enter once price touches 79.17 (assuming we're trading below - if we were trading above, it'd give you an error message), you'd enter either of these:

A Stop (market) order at 79.17 - then when price trades at 79.17 the pending order becomes a market order. This guarantees you a fill, but not a price - that is, you may get filled at .17; .18; .19 or .32. It's the same as a stop-loss order, only you use it to enter, not to exit.

A Stop Limit order at 79.17 with a positive or negative offset in tics (or points, or whatever). Here you give two prices: at 79.17 your stop order will become a limit order at that price plus/minus the offset you specified. For example, if your offset is +0.03 (or 3 tics), it will become a buy limit order at 79.20, so if the price is at or below .20 you will get filled. This type of order does not guarantee you a fill (the market may run away from you), but it avoids getting awful fills (see the trade-off?). A negative offset simply enters a limit order x tics below the bid (e.g. 79.17 [-0.02] will bid at 79.15); this is useful with contracts that tend to backfill or that have wider spreads.

http://www.interactivebrokers.com/en/software/tws/twsguide.htm
 
Quote from Picaso:

You use BookTrader or the order management page?

If you want to automatically enter once price touches 79.17 (assuming we're trading below - if we were trading above, it'd give you an error message), you'd enter either of these:

A Stop (market) order at 79.17 - then when price trades at 79.17 the pending order becomes a market order. This guarantees you a fill, but not a price - that is, you may get filled at .17; .18; .19 or .32. It's the same as a stop-loss order, only you use it to enter, not to exit.

A Stop Limit order at 79.17 with a positive or negative offset in tics (or points, or whatever). Here you give two prices: at 79.17 your stop order will become a limit order at that price plus/minus the offset you specified. For example, if your offset is +0.03 (or 3 tics), it will become a buy limit order at 79.20, so if the price is at or below .20 you will get filled. This type of order does not guarantee you a fill (the market may run away from you), but it avoids getting awful fills (see the trade-off?). A negative offset simply enters a limit order x tics below the bid (e.g. 79.17 [-0.02] will bid at 79.15); this is useful with contracts that tend to backfill or that have wider spreads.

http://www.interactivebrokers.com/en/software/tws/twsguide.htm
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Thanks a lot!
Have a good weekend!
 
Quote from Speciaul_K:

Anyone know if the nymex is opening early this sunday because of the storm? I know they did with the last hurricane that hit New Orleans
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That was the day my account got wiped, it was so over hyped and it was sold as "worse than Katrina" .............and then Oil just collapsed. :S............I will never going to forget that day. :S

It was July or August of 2008 if I am not mistaking.
 
Quote from mrbochin23:

That was the day my account got wiped, it was so over hyped and it was sold as "worse than Katrina" .............and then Oil just collapsed. :S............I will never going to forget that day. :S

It was July or August of 2008 if I am not mistaking.
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Hurricane Ike hit on Sep 9th 2008, so after the July 147.9 crude high you were trying to buy cheap crude at $105 2 months later. hmmm trend was clearly down.
 
Quote from EON Kid:

Hurricane Ike hit on Sep 9th 2008, so after the July 147.9 crude high you were trying to buy cheap crude at $105 2 months later. hmmm trend was clearly down.
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yessssssssssssssss!!!!!!!!!!!!!!!!!!!!! I was just straring back then and had a full time job besides trading. ...........now that I look back at it, it was a really stupid mistake :S
 
Quote from mrbochin23:

That was the day my account got wiped, it was so over hyped and it was sold as "worse than Katrina" .............and then Oil just collapsed. :S............I will never going to forget that day. :S

It was July or August of 2008 if I am not mistaking.
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I was long ng on that weekend. Burned about 6 or 8k on that trade
 
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