How are medium-sized limit orders filled?

[Elynt]

Hello,

I know "medium-sized" is relative. For the sake of the question, I'm talking about a 25 ES contract position. Let's say you submit an order to buy 25 contracts @ 2100.00. Once it is time for your order to be filled, are sellers found whose cumulative positions total 25 or is the order "on hold" until one 25 contract seller is found? If the latter is true, does the market then start filling other positions until your order can be filled?

Thanks for the help. Just trying to better understand the structure of the futures market.

 

[i960]

If you're at the inside of the book your order gets filled as part of the queue of orders at that position. 5 people want 5, you get filled. 1 person wants 25, you get filled. 25 people want 1, you get filled. If you're not at the inside of the book your order waits until it is. It's also possible to be partially filled and have the market move back away from your position.

 

[Elynt]

If you're at the inside of the book your order gets filled as part of the queue of orders at that position. 5 people want 5, you get filled. 1 person wants 25, you get filled. 25 people want 1, you get filled. If you're not at the inside of the book your order waits until it is. It's also possible to be partially filled and have the market move back away from your position.

That clears it up perfectly. I appreciate the explanation!

 

[volpunter]

Asking such kind of question suggests you know next to nothing about financial trading and should not even be trading 1 single contract until you are solid on the basics. I believe you lack other related knowledge and skills and will most likely get burned sooner rather than later. Stop trading completely and learn about fundamentals first. This is most likely the soundest advice you will get in this thread.

Hello,

I know "medium-sized" is relative. For the sake of the question, I'm talking about a 25 ES contract position. Let's say you submit an order to buy 25 contracts @ 2100.00. Once it is time for your order to be filled, are sellers found whose cumulative positions total 25 or is the order "on hold" until one 25 contract seller is found? If the latter is true, does the market then start filling other positions until your order can be filled?

Thanks for the help. Just trying to better understand the structure of the futures market.

 

[Elynt]

Asking such kind of question suggests you know next to nothing about financial trading and should not even be trading 1 single contract until you are solid on the basics. I believe you lack other related knowledge and skills and will most likely get burned sooner rather than later. Stop trading completely and learn about fundamentals first. This is most likely the soundest advice you will get in this thread.

I hope you don't trade based on the half-baked assumptions you make quite often, judging by your history. The soundest advise I got from this thread was from i960, who answered the question instead of providing me with untopical, unsolicited advise.

I recommend you don't trade until you learn how to answer posed questions instead of pressing your biases on what is clearly presented to you. Analyzing information correctly and acting accordingly will make you a better (read, profitable) trader.

Now if you'll excuse me I'm going to spend my Sunday enjoying myself instead of sifting through week-old, closed threads and trying to pick fights with strangers over the internet as a form of self-validation.

Best

 

[volpunter]

* you talk about how I trade while you do not even understand how a limit order is filled?
* the soundest advice remains for you to first familiarize yourself with the basics before you go full throttle at losing money which is guaranteed to occur with your current approach and especially combative attitude.
* Lol, nobody asked or invited you to sift through old threads. Your choice, but maybe you wanna at first give the benefit of the doubt with your 7 posts and zero reputation on this website plus the lack of understanding how limit orders are executed. You display an extremely arrogant attitude given your lack of knowledge. People can be arrogant as long as they have skills and knowledge to back up such arrogance.
* there is a difference between someone wanting to learn and putting in the effort and someone being lazy. You could have gotten an answer to your question within seconds by googling "how are limit orders executed?". Instead you tax others' time with absolutely basic questions.

My point is read more, and talk less. If you even thought about your question carefully you would have gotten to the conclusion that you do not need to use 25 contracts to make a point but >1 contract because limit orders are filled in exactly the same way, regardless of whether you trade 25 or 1 contract(s) but >1 includes the case, as i960 pointed out, when 1 contract is filled and the market moves away from your limit price and you only get partially filled.

I hope you don't trade based on the half-baked assumptions you make quite often, judging by your history. The soundest advise I got from this thread was from i960, who answered the question instead of providing me with untopical, unsolicited advise.

I recommend you don't trade until you learn how to answer posed questions instead of pressing your biases on what is clearly presented to you. Analyzing information correctly and acting accordingly will make you a better (read, profitable) trader.

Now if you'll excuse me I'm going to spend my Sunday enjoying myself instead of sifting through week-old, closed threads and trying to pick fights with strangers over the internet as a form of self-validation.

Best

 

[Elynt]

* you talk about how I trade while you do not even understand how a limit order is filled?
* the soundest advice remains for you to first familiarize yourself with the basics before you go full throttle at losing money which is guaranteed to occur with your current approach and especially combative attitude.
* Lol, nobody asked or invited you to sift through old threads. Your choice, but maybe you wanna at first give the benefit of the doubt with your 7 posts and zero reputation on this website plus the lack of understanding how limit orders are executed. You display an extremely arrogant attitude given your lack of knowledge. People can be arrogant as long as they have skills and knowledge to back up such arrogance.
* there is a difference between someone wanting to learn and putting in the effort and someone being lazy. You could have gotten an answer to your question within seconds by googling "how are limit orders executed?". Instead you tax others' time with absolutely basic questions.

My point is read more, and talk less. If you even thought about your question carefully you would have gotten to the conclusion that you do not need to use 25 contracts to make a point but >1 contract because limit orders are filled in exactly the same way, regardless of whether you trade 25 or 1 contract(s) but >1 includes the case, as i960 pointed out, when 1 contract is filled and the market moves away from your limit price and you only get partially filled.

Thank you for the additional commentary. I assure you that everything you've written in this thread will be taken into utmost consideration.

 

[volpunter]

good luck learning the ropes in this business. If you have the slightest drive to learn this business you better ask for book and online recommendations to dig into if you do not yet have any. Do not piss away your hard earned Physician or Engineering dollars (I might be wrong but you sound like someone crossing professions or picking this up as a "hobby") before you have understood the basics. Best wishes.

Thank you for the additional commentary. I assure you that everything you've written in this thread will be taken into utmost consideration.