Question. Why is my fill Prices above or below market?

C

Captialmanagement

When I send in a market order for a buy it fills far above the current price, and when I sell it fills far below the current price.

I am assuming this is slippage, but I had no idea it was so bad.

Thanks for the help.

BTW I am only trading 1 contract.

Screen Shot 2017-01-12 at 10.24.49 AM.png
 
Use limit order

Spend some time on Investopedia, Drill down from article to article until your questions are answered, or you have a better understanding of trading Mechanics.

Order Types Intro

Order Types Search

PS: You should cease trading until you have performed a bit of due diligence.

CL is an aggressive instrument and will cost you dearly if you aren't careful.
 
Last edited:
Looks like you're on March CL. The further away you trade from the spot month (which is Feb in CL currently), the more slippage you'll get in market fills as a general rule.
 
Nice UI. You should be able to configure that DOM to create a limit or stop order via a simple click on the bid /ask columns.

Those buttons on top are for panic trading. Slippage is guaranteed. Use it while chasing a fast market and you can make or loose 3-5 ticks easily.
 
It's called the spread, a mkt order should buy you the ask and sell the bid. Whatever that spread is is slippage. It gets worse if you trade more contracts than the current bid/ask size. Use a limit to buy the ask or sell the bid but be prepared in a fast market to go unfilled if you don't chase. You can use the last price as a limit, or buy the bid and sell the ask for best fill.
 
Overnight said:
Looks like you're on March CL. The further away you trade from the spot month (which is Feb in CL currently), the more slippage you'll get in market fills as a general rule.
More...

Yep.

OP: you should be trading CLG7, not CLH7. With just 1 CL contact traded, your slippage should be 0, even with market orders.
 
You must log in or register to reply here.
Back
Top