market orders you have choice of a requote, stops and limits are must fills at first available price, so you get force filled 30-40 pips away
Fast Market at NFP?
- Thread starter DerferMark
- Start date
After this morning's fill I tend to agree. But if your are aware of the risk, spread, slippage and trade a proper size for your account balance, it can be a calculated risk worth the reward. But I guess you never really know 'till after the fact what the slippage will be...
No they are not.
Say cable is 40/42 and you want to sell. You send a limit order at say 30. You therefore get filled at the best bid up to a worst price of 30. If it is lower than 30 then you get nothing.
You therefore can still asses the trade by taling into account risk and reward. If you cant know the worst possible entry price how can you make a valid assesment of risk and reward?
I would also point out a true market order (obviously I don't know your platform) means you hit the first available bid or bids until your amount is done. So you should never have a requote.
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHRGH.
I can't believe there are people still doing this, and then using "bucketshop in the grassy knoll" as an excuse. Where did ya'll get the idea that this would be a good way to trade.
Lookie heah now Son; the banks etc will pull quotes and there will be gaps, gaps happen in all markets, even realestate. So nobody was being singled out this morning, this was normal market action for this type of news release.
Please Rookies, I am begging you, stop trying to trade news at the release, you will get burned badly. Also, depending on the type orders you broker has, and ya'll need to check this yourselves, a limit order may just convert to a market order when the price is hit, you need what some call a stop limit on some platforms, this should allow you to do a sort of fill or kill. In other words, if it does not fill at that level due to volume, then the order just sits there. Remember the VIPER cardinal rule; "lost opportunity is better than lost money".
Now, before I go back to the Pit and continue digesting the two
euroweasles I had for breakfast, guess what I did by looking at these numbers, this is for rookies only, all savants, surfers, eagles and staffordshires please let the rookies try to figure this out
8:35:37 est eurusd short 1.3128
8:41:39 est Cover 1.3108
9:48:03 est eurusd Long 1.3096
10:03:09 est Cover 1.3108
The Ever Tryin To Learn Ya'll Something VIPER
I can't believe there are people still doing this, and then using "bucketshop in the grassy knoll" as an excuse. Where did ya'll get the idea that this would be a good way to trade.
Lookie heah now Son; the banks etc will pull quotes and there will be gaps, gaps happen in all markets, even realestate. So nobody was being singled out this morning, this was normal market action for this type of news release.
Please Rookies, I am begging you, stop trying to trade news at the release, you will get burned badly. Also, depending on the type orders you broker has, and ya'll need to check this yourselves, a limit order may just convert to a market order when the price is hit, you need what some call a stop limit on some platforms, this should allow you to do a sort of fill or kill. In other words, if it does not fill at that level due to volume, then the order just sits there. Remember the VIPER cardinal rule; "lost opportunity is better than lost money".
Now, before I go back to the Pit and continue digesting the two
euroweasles I had for breakfast, guess what I did by looking at these numbers, this is for rookies only, all savants, surfers, eagles and staffordshires please let the rookies try to figure this out
8:35:37 est eurusd short 1.3128
8:41:39 est Cover 1.3108
9:48:03 est eurusd Long 1.3096
10:03:09 est Cover 1.3108
The Ever Tryin To Learn Ya'll Something VIPER