Limit orders on E-Mini??

[schulzey]

Quote from bathrobe:

in the es you would need it to trade through your limit order most of the time (unless you are one of the first 100 or so) to get a fill in the real market.

I just read your post again and I might have misunderstood.

Does that mean that if you put in a buy at asking price or sell at bid price that it doesn't usually fill until it goes one tick lower or higher with the ES?

That would bother me a lot if that's the way it goes.

For instance, if the bid is 1313.25 and ask is 1313.50 and I have a limit order at 1313.50 to buy that it wouldn't fill usually unless ask goes to 1313.75?

 

[bathrobe]

Quote from schulzey:

I just read your post again and I might have misunderstood.

Does that mean that if you put in a buy at asking price or sell at bid price that it doesn't usually fill until it goes one tick lower or higher with the ES?

That would bother me a lot if that's the way it goes.

For instance, if the bid is 1313.25 and ask is 1313.50 and I have a limit order at 1313.50 to buy that it wouldn't fill usually unless ask goes to 1313.75?

You will get filled immediately if you are selling the bid or buying the offer, it will fill the moment you click the dom, I meant if you are buying at the bid and the bid is 1300, price would need to trade to 1299.75 for a fill, and just the opposite for a short.

 

[schulzey]

Quote from bathrobe:

You will get filled immediately if you are selling the bid or buying the offer, it will fill the moment you click the dom, I meant if you are buying at the bid and the bid is 1300, price would need to trade to 1299.75 for a fill, and just the opposite for a short.

Gotchya. Thanks.

 

[murray t turtle]

Quote from schulzey:

I think I phrased it wrong.

example:
last price 1313.25
bid 1313.00
ask 1313.25

If I want to go short with a limit order at 1313.25 the demo will fill my order even though I'm not selling at the bid. It fills at the last price. Does this happen with e-minis in real time at all, or is this the demo platform making it much easier to trade than it really is?

=========
Generally speaking, yes;
generally speaking, yes. But i dont watch the news much while I am trading , as a market maker said ''you will probably get the news before me'' He is watching greater things than the news.

At a bid price of $1300.00;
most likely get filled, as Dave FOX Ramsey says''better than i deserve'' Mearning ES, like many, bounces around a lot at round numbers .

None of this is a prediction. With the exception of bid price $1300.00;simulators are much easier/better than ''live' wise 'trading/investing

Also i hate the way some derivatives like ES trade much faster than NYSE stocks.And I prefer paper trading to simulatiors;
its slower, more accurate, less exciting

 

[emg]

http://en.wikipedia.org/wiki/FIFO

http://www.cmegroup.com/confluence/display/EPICSANDBOX/Match+Algorithm+-+FIFO

 

[schulzey]

Quote from murray t turtle:

=========
Generally speaking, yes;
generally speaking, yes. But i dont watch the news much while I am trading , as a market maker said ''you will probably get the news before me'' He is watching greater things than the news.

At a bid price of $1300.00;
most likely get filled, as Dave FOX Ramsey says''better than i deserve'' Mearning ES, like many, bounces around a lot at round numbers .

None of this is a prediction. With the exception of bid price $1300.00;simulators are much easier/better than ''live' wise 'trading/investing

Also i hate the way some derivatives like ES trade much faster than NYSE stocks.And I prefer paper trading to simulatiors;
its slower, more accurate, less exciting

I'm sorry, it's a little hard to understand your reply. Are you saying that if I have a limit order to sell at 1313.25 and the current quote is:

LAST 1313.25
BID 1313.00
ASK 1313.25

Then my sell order of 1313.25 would fill sometimes? If so, then the demo is working more like the real world. I'm just assuming that's not the case.


Thanks,
Riki

 

[schulzey]

I was also wondering about stops.

I would assume all stop orders are triggered by the bid/ask prices and not the last price, is this correct?

I heard stocks adopted this within the last few years so it makes sense that futures would trade the same way.

For instance if I have a long position with a stop loss and the last price never touches it but the bid price does it would liquidiate my position.





I'm just trying to get all my ducks in a row here before I start trading futures.

 

[bathrobe]

There are different types of stops. Limit if touched,market if touched etc. It depends on your platform.