e-miNY crude oil and gas futures changes

[tomcole]

If you place a limit order at the market, it gets filled. Sometimes you get a wide mkt and a fill needs 2 or 3 ticks from where the inside mkt was 10 seconds ago. Its why I never use mkt orders - but yes, mkt order you get filled asap, but maybe not where you thought.

QG is even worse sometimes, as it can widen out to 4 or 5, if not more ticks, for the inside mkt.

 

[Surdo]

What exactly is a "Limit order at the market"?
I am not trying to be facetious, just curious.

 

[leapfrog]

Quote from tomcole:

If you place a limit order at the market, it gets filled. Sometimes you get a wide mkt and a fill needs 2 or 3 ticks from where the inside mkt was 10 seconds ago. Its why I never use mkt orders - but yes, mkt order you get filled asap, but maybe not where you thought.

QG is even worse sometimes, as it can widen out to 4 or 5, if not more ticks, for the inside mkt.

I am aware of the large bid/ask spreads on QN/QG - and that is why I can't believe Clearpoint is not allowing "market orders". Have you not been in a position Thursday morning when the Nat Gas report comes out and the price just explodes. That is when you want a market order to get you out. Fiddling with adjustments on Limit orders is not going to work if price blasts through your limit without a fill.

Am I missing something here?

 

[CPTrader]

Quote from leapfrog:

I am aware of the large bid/ask spreads on QN/QG - and that is why I can't believe Clearpoint is not allowing "market orders". Have you not been in a position Thursday morning when the Nat Gas report comes out and the price just explodes. That is when you want a market order to get you out. Fiddling with adjustments on Limit orders is not going to work if price blasts through your limit without a fill.

Am I missing something here?

NYMEX & NYBOT continue to prove why they are the worst exchanges in the world!! How can you NOT have market orders?

CME please list on Globex crude and gas!

 

[tomcole]

QG is like a lottery ticket - sometimes it works out, sometimes worthless. I probably trade QG just for the adrenalin rush. Handing $500 to women at a bar is probably more fun and yield greater results than trading QG for me. But I still like it.

When I said placing a limit order at the mkt, its as if the mkt is trading 1 at 2, and you place a limit order to buy at 2. If the mkt skips away, you dont get filled, usually you do. But you dont face the horror of a mkt order and get filled at 6, only to see the mkt settle back to 1, in a heartbeat. Welcome to Nat Gas.

 

[just21]

How is the natural gas on clearport since the switchover? Is it liquid?

 

[tomcole]

Its tradeable, give it a try!

 

[janderson3]

Actually, I think that the liquidity of QG has increased since the switchover from GLOBEX to Clearport. This is probably due to the large moves that Nat Gas has been making lately. Regardless, the market has been setting daily volume records, and I've had no trouble getting in or out with limits.