AFAIK it is not a recent rule. if you ever get traded through and you don't get filled IMMEDIATELY call you broker and tell them. this happened to me once and the broker said "you're out at x price - i'm telling you it's confirmed you received this price" even though it wasn't showing up on my platform yet. and when they say that over a recorded line they are legally required to pay you that price.
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How to send order in the volatile market
- Thread starter kiev
- Start date
AFAIK it is not a recent rule. if you ever get traded through and you don't get filled IMMEDIATELY call you broker and tell them. this happened to me once and the broker said "you're out at x price - i'm telling you it's confirmed you received this price" even though it wasn't showing up on my platform yet. and when they say that over a recorded line they are legally required to pay you that price.
I did, and that's when TDA told me that they send each order to a specific venue.Quote from FrankSlaughtery:
AFAIK it is not a recent rule. if you ever get traded through and you don't get filled IMMEDIATELY call you broker and tell them.
Once the broker sends the order to the market, isn't it out of their hands, anyway? If I'm willing to sell at the same price that another customer wants to buy, but my broker will only send to PHLX and their broker will only send to CBOE, it seems like some trades just won't get done.
Quote from loufah:
I did, and that's when TDA told me that they send each order to a specific venue.
Once the broker sends the order to the market, isn't it out of their hands, anyway? If I'm willing to sell at the same price that another customer wants to buy, but my broker will only send to PHLX and their broker will only send to CBOE, it seems like some trades just won't get done.
one way to possibly get a better fill is to cancel the order then resubmit and hope it gets routed to a diff exchange.
if the price discrepancy persists for too long arbs usually come in pdq.
if you still have the prob consider switching to ib which generally has the best execution though TDA is close behind them.
Quote from kiev:
In a volatile market, for example, a stock normally have 1 cent spread between bid and ask, but when a news about this stock comes, the market is becoming volatile, the spread between the bid/ask can be 10 cents.
What I want to know is, in this volatile market, how can i send limit orders and make sure the orders can be filled£¿
I trade by IB API, I can get bid price/ask price or marketdepth from ib api, the time delay can be 0.5 sec in my opinion, when the last ask price is 10.1, I send a 10.1(buy) limit order to ib, do you think it's easy to be filled? Or should I add any money on 10.1 (the ask price) because of time delay?
Paper trade and see what works best.