GTC order not executed (not filled)

thecoder

thecoder

Hiya,
at TDAmeritrade my GTC limit order for buying a stock has not been filled, not even partially, though it should be according to OHLC data, as my Bid was slightly higher than the Low (equals Open) price of the day.
Anybody else had such an unpleasant experience? How to explain this?
 
Last edited:
thecoder said:
Hiya,
at TDAmeritrade my GTC limit order for buying a stock has not been filled, not even partially, though it should be according to OHLC data, as my Bid was slightly higher than the Low (equals Open) price of the day.
Anybody else had such an unpleasant experience? How to explain this?
More...

Look at time and sales, not the low. It could have been 30 shares and there's no way to know if you were the first in line, as retail you were probably last.
Also, since it's the open, it could have been the opening auction and you're GTC order won't participate in that.
 
@d08 , thx.
Yes, I now slowly recall that also in fast moving market situations some orders simply get skipped,
ie. get not filled as well. Yes, indeed experienced also such cases in the past, was just escaping me. :-(
 
thecoder said:
@d08 , thx.
Yes, I now slowly recall that also in fast moving market situations some orders simply get skipped,
ie. get not filled as well. Yes, indeed experienced also such cases in the past, was just escaping me. :-(
More...

It's FIFO. And sub 1 lot orders and hidden orders get less priority.
 
thecoder said:
@d08 , thx.
Yes, I now slowly recall that also in fast moving market situations some orders simply get skipped,
ie. get not filled as well. Yes, indeed experienced also such cases in the past, was just escaping me. :-(
More...
no orders simply get skipped. an exchange would need to explicitly program that into there order book.
 
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thecoder said:
Hiya,
at TDAmeritrade my GTC limit order for buying a stock has not been filled, not even partially, though it should be according to OHLC data, as my Bid was slightly higher than the Low (equals Open) price of the day.
Anybody else had such an unpleasant experience? How to explain this?
More...
You cannot conclude anything by looking at the OHL only.
As other said, you need to look at the tape during the time your order was in the book.
 
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Stop-limit is for a different purpose. It's when you're entering on the long side at stop price above market and then send limit if you want to contain slippage/skip trade if it gets away from you. A regular limit typically is entered below market. Also, a stop-limit becomes just a limit order after the stop is triggered, there's no difference on most exchanges.
 
thecoder said:
I think one better should use Buy-Stop-Limit Order instead of a vanilla limit order, as described here:
"How to Prevent a Limit Order From Not Getting Filled If the Price Gaps"
https://www.investopedia.com/ask/answers/05/buystoplimit.asp
Dunno yet whether TDAm has such an order type. Have to check...

It seems this topic/problem was already discussed here in 2016:
https://www.elitetrader.com/et/threads/limit-order-entered-on-the-book-can-be-skipped.300094/
More...
Before trying different solutions, you should try to know why your order didn't get filled.
The Buy-Stop-Limit is for a specific situation.
As for the 2016 thread, there aren't so much useful info.

This type of topic is re-occurring at a regular interval. It shows that many 'traders' don't understand the mechanic of order execution. And frankly, this is 'Trading 101' stuff...
 
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