Ladder language...
- Thread starter Overnight
- Start date
Sorry I do not have a shorter clip of the Eureka moment, but...
If the Last deal price is greater than or equal to the last Ask price, the price is considered to be the result of a buy deal.
- If the Last deal price is less than or equal to the last Bid price, the price is considered to be the result of a sell deal.
Guess I should have perused AMP Euro help files more, heh.
Thanks Bru, much appreciated.
This part also explains why your fill showed as a sell.
"It doesn't have direction (one counter-party buys, seconds sells) so MT5 server tries to find who's market taker and sets this as direction, sometimes it can't recognize the direction and sets Buy/Sell or N/A."
You didn't take liquidity, you provided it. Somebody had to sell at market (your limit buy price) in order for your trade to be filled. If no-one would sell at your limit price your order never gets filled.
What you see in the time and sales are market orders, not limit orders.
"It doesn't have direction (one counter-party buys, seconds sells) so MT5 server tries to find who's market taker and sets this as direction, sometimes it can't recognize the direction and sets Buy/Sell or N/A."
You didn't take liquidity, you provided it. Somebody had to sell at market (your limit buy price) in order for your trade to be filled. If no-one would sell at your limit price your order never gets filled.
What you see in the time and sales are market orders, not limit orders.
In regards to the last sentence, not necessarily. you can buy at the ask or sell at the bid (take liquidity) using a limit order. but yeah a market order will take liquidity.
Yes, that, hehe
Well yes but if you buy limit at current ask your orders gets executed at market (market order). Unless price moves away before you where filled, then it will remain limit at whatever the price was or gets filled lower if price dropped, or if ask size isn't large enough to fill your entire order your remaining order size will become first bid.
Oh yah, that's easy. Like in that screenshot of the ladder, if I went in and bought 4 limit at the ask of 9301.75, I'd have instant fill on the 3, and then have 1 limit at a bid of the same price of 9301.75. I become the new high bid.
My whole conundrum was just on the terminology of the transactions (or "deals" as they seem to call it) and how it was determined.
Conclusion, it's some computer with bollocks for a brain, lol!
Exactly, unless price moved away before your order reached the exchange of course.