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  • Country
    United States

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  • Favorite Markets
    ES, JY, BP, AD, CD
  1. Here is one, I have been trading for some time and have never run across this except one other time. Perhaps this is common but in my experience it is not, when orders are hit they follow the order precedence rules, I write up the trade on my trade sheet, journal the trade and move on. Say in a very slow moving CL market (I have moved to the Philippines and trade the Asian, Europe and early US futures markets). The CL can be very slow during the Asian markets. I got my signal, shorted, put in my profit stops and readied my protective limit. I was at the bottom of the pile when I entered my limit and there were 24 contracts ahead of me, it hit my two contracts at that level immediately then dropped quickly away from the filled price without touching any limits ahead of me or any contracts at the price at all.. Now if I had 24 contracts ahead of me with limit orders of different sizes how does my limit which was last in get hit over sitting limit orders some of which had been there for some time? In my experience my limits don't get hit until it is "my turn" FIFO or unless others drop out putting my price/time up the list. To me this acted like a market order which would make sense to me but with a limit order this should not have happened until my turn so to speak. I have had my protective limits not hit more times than not because I enter them late not immediately, why? for me it works, many times my late protective limit gets left behind as the market moves in the direction of my profit stops. As I said this has happened only twice which makes me think my understanding of the market is correct and I am missing something in these specific instances. Limits are first in first out unless there is some condition attached which may not make that possible. I fear my understanding of order precedence rules may be fouled. Any input would be helpful
  2. I am not a forex trader, I trade mostly ES, JY, EC, BP, CD futures. I have been studying forex for some time for the sake of understanding better and have decided I might jump in. I lack the understanding of how forex data works, my understanding is that the big banks and brokers provide their data to data providers who then consolidate it into total volume. It seems to me I would want a data provider who provides the most banks input for their data. I am looking for tick data on up and a provider who would list their bank data in a way where I could identify the largest contributors, sort them somehow and develop an indicator to show me this big boy volume. Do any of you know which providers have the largest amount of volume providers and list them in way like market makers on L2? Also, I am not an expert here and would appreciate any corrections to my thoughts or assumptions. Thanks you MM
  3. Well, I have retired in the Philippines in a small beach town that has internet, thank god! I invested for years in the USA to get me to this point and now the beach has become boring and I am learning the art of short term trading. I look forward to meeting you all and learning what is available. If anybody needs info on trading in the Philippines, (yes they have direct access trading on the PSE) or living here or even vacationing here let me know. Regards, Marketmonkey
  4. I am new to short term trading, been investing for 20 years but have spent the last 2 years reading, studying, watching and learning shorter term trading and doing well enough to keep going but this problem scares me. I trade on Fidelity Active Trader Pro and I put a limit buy order in for 500 shares at $7.79, the DOM showed 5800 shares in the que at the bid of $7.79 and 6200 shares at the ask of $7.80. My order of 500 shares bumped the bid at $7.79 to 6300 shares and I watched the time and sales, to my amazement after some time a total of 8760 shares were bought at $7.79 along with thousands of sub penny hits before the bid/ask moved to $7.80 then up and up. How did my limit at $7.79 get missed if it was placed ahead of 2460 shares that came in after me? The order I placed was place using the smart routing feature. Could somebody please explain how this happens, I have other examples with some of over a 15000 share difference. I don't get it and feel I need to understand why this is happening. Thanks in advance.
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