CME futures fill

T

traider

If buy limit order is higher than best ask by 2 ticks is one filled on the best ask?
If buy limit order is higher than best ask by 20 ticks is one filled on the best ask?

Is retail always last in queue for forex futures? Even when the order has spent longer time in queue, I noticed that everybody was jumping ahead and I was only filled when the price traded through.
 
this is exactly why paper traders lose money when they trade for real. you always have to allow one tick extra getting in and out. this is why you have to determine the direction you are trading and then create a counter direction entry method if you have any hopes of obtaining positive slippage.
 
I have never received price improvement in Retail. But maybe it is my entry/exit style.

Yes when sim trading use market orders (entry & exit) to give that handicap to mimic Live results.

ES
 
Last edited:
In fast markets I don't want to send a blind market order. I'm asking if I can achieve the effect if bid ask spread is 1 to 2 ticks by sending a buy limit order is higher than best ask by 2 ticks
 
traider said:
If buy limit order is higher than best ask by 2 ticks is one filled on the best ask?
If buy limit order is higher than best ask by 20 ticks is one filled on the best ask?

Is retail always last in queue for forex futures? Even when the order has spent longer time in queue, I noticed that everybody was jumping ahead and I was only filled when the price traded through.
More...


You will get filled at the best price at that time with your limit in mind.
The exchange does not provide different executions for retail vs anyone else.
The exchange has enough bandwidth that 99.9% of the time there is no queue.
I'm referring to the CME.
 
traider said:
If buy limit order is higher than best ask by 2 ticks is one filled on the best ask?
If buy limit order is higher than best ask by 20 ticks is one filled on the best ask?

Is retail always last in queue for forex futures? Even when the order has spent longer time in queue, I noticed that everybody was jumping ahead and I was only filled when the price traded through.
More...
I don't have that experience of "always being last in the queue". I am a retail trader and mostly only buy or sell one contract. I use limit orders. If I want to buy I look at the bid and ask prices. I then use the ask price as limit price and submit an order. I get an almost immediate fill (within one or two seconds) at this ask price.
If the bid/ask spread is two ticks I start by submitting an order with a limit price halfway between bid and ask. Such an order often gets filled within one minute. If it doesn't I adjust the limit price to the ask price, resulting in an almost immediate fill at the ask price.
So on my small order lines I don't see a noticeable price slippage.
 
traider said:
If buy limit order is higher than best ask by 2 ticks is one filled on the best ask?
If buy limit order is higher than best ask by 20 ticks is one filled on the best ask?

Is retail always last in queue for forex futures? Even when the order has spent longer time in queue, I noticed that everybody was jumping ahead and I was only filled when the price traded through.
More...
If you send an order 'x' ticks outside the displayed market, and your order is still outside the market when the CME receive your order, then you'll get filled at the opposite limit price. That price may be the opposite limit when you entered your order, or it may be the opposite limit when your order hit the CME book (up to the submited limit price).

As for the queue, it depends of the matching algo (ex: fifo for ES). But usually, when it's not Price/Time priority, Public Customer (retail) orders have priority over the rest of the crowd.
 
You must log in or register to reply here.
Back
Top