Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

marketmonkey

Execution/Time and Sales

Recommended Posts

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.

Share this post


Link to post
Share on other sites
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.

 

 

Have you tried to figure this out together with your broker? What was their explanation?

Most probably you got your order slippaged as it often happens in fx trading.

Share this post


Link to post
Share on other sites

Hi,

What you see in the DOM or level 2 is not the whole picture,

some buyers/sellers sends there orders with the "Hide" options which means you don't see it in the books, it is there but you cant see, and they are in the line to get filled according to the submitting time (most chances before you did)

 

you might saw it yourself, the lv2 shows 100 shares and someone just hitting the bid/ask but still the 100 shares stay, and price don't move,

 

Also the DOM lv2 shows the best bid/ask for each market maker at the moment so if the Bid is 9.80 under 9.79 you want see all the bids because some market makers had bids in 80, check this for more info: Introduction To Level II Quotes

 

with that being said you still need to check with your broker because some times they do

have problems,

 

All the Best

 

Eldad

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By millonmethod
      Hello everyone!
      I am an advanced trader, with many years of experience (about 15 years - 10 living exclusively from this)
      I am going to give you some tips that you must know:
      There are going to be many people who tell you that trade is easy, that with only crossiing a line  with another one you will win a lot of money.... and that´s not true.  No, Sir, reality is far away from that. Many people who start arrive here with the hope that someone "gives them" a free method, they watch youtube videos thinking that this will give them the "strategy" and in a few days they realize that it does not work for them - they lose money - and then They go looking for a new one ... and so on. YES, IT´S TRUE YOU EARN IN TRADING, A LOT. BUT THINK: for a few to win (10% + any BROKER) many others must lose (90% people). YOU MUST HAVE A MONEY MANAGMENT FORMULA ( you can email me) People study so many years to live on this, not because they are dumb, but to know what they do, when, and have absolute effectiveness. It´s very easy to get lost here: do not disperse, jumping from one to another strategy WILL NEVER give you money, it will only waste your time and make you nervous when trading. PEOPLE WHO CHANGE THEIR METHOD CONSTANTLY : LOOOOSE ALWAYS.   If you have the knowledge to develop it, take your time and do it.  Always try it first on DEMO for at least 2 weeks! If not: search to buy a solid strategy (no you tube videos pleassse ! Avoid losing money! ) This is like any business, it requires some capital to start (capital = money in the broker + solid made /purchased strategy) If you are lost: I RECOMMEND YOU NOT TO WASTE TIME IN YOUTUBE, JOIN PEOPLE WHO HAVE EXPERIENCE AND IF YOU ARE GOING TO BUY A METHOD ... PLEASE !!!! DO NOT BUY 10 BAD AND CHEAP METHODS, SAVE MONEY AND BUY ONLY 1 BUT EXCLUSIVE AND MUST ALLWAYS HAVE SUPPORT !!!!!  Do not buy Signals! They never keep up with constant profits! One week will win and the next will lose. Nothing that does not depend absolutely on you will give you the money you are looking for. And if you do not have a strategy (made or purchased) do not even try PLEASE PLEASE PLEASE: DO NOT USE REAL MONEY! AT LEAST 2 WEEK DEMO FREE HELP HERE!!!!!  IF YOU FOLLOW MY ADVICE YOU WILL BE PART OF THAT 10% WINNER, email me.
      Have a nice trading day
       
       
    • By RedJoker81
      Hello, I wish to get into trading(maybe day trading).  But my question is what should I focus on learning, stocks(btw I know about the $25000 limit but I don't know if I am going trade that many times a week) or Forex, atm I plan to start with 500-1000$. My background would be that I have taken an economics class in which one part was stocking as we had to play a stock market game for around 3 months. Also if you are wondering I don't plan to start real trading for at least a few months(I Plan to practice with demo accounts first and find a profitable strategy first). Thanks for the help! 
    • By YADIX ECN/STP Broker
      Dear traders,

      At Yadix, we understand what traders need to succeed and we would like to update you with the latest broker developments for 2018 Q2:

      We have reduced our spreads by up to 60% across all forex symbols. We have added new liquidity to offer the lowest spreads in Forex. The average spread for EUR/USD is now 0.13 pips. You are invited to login to your MT4 account and review the amazing reductions in our raw spreads and also benefit from our exclusive ECN rebate program and discounts. 

      Execution statistics have been added to the site for trading transparency and to highlight the benefits of trading with a true STP broker. Through low latency technologies, hosted at the Equinix LD4 our traders benefit from 78% filled at the requested price or better, 28% filled with improved prices and 99.4% executed in 15 milliseconds or less.

      We have introduced a new VPS provider that offers great stability and 99.9% up time, with faster connectivity to Equinix LD4 server and much higher technical specifications. You can benefit from lower latency and faster execution, by claiming a free VPS with reduced qualifying deposit.

      Discounts are now available on our ECN trading accounts, where you will benefit from low cost ECN trading, forex pairs $2.50 per 100,000 traded, to ensure all Yadix clients have access to best institutional level conditions with small deposit requirements. 

      For more information, please feel free to contact our team.

      Best regards,     
      Robert Taylor
      Business Development 
      Yadix Forex Broker 
      Telephone: +44(0) 20 3239 6117
      Web: http://www.yadix.com/
      E-mail: support@yadix.com
      Skype: yadix.forex
       
    • By trading4life
      Hello, My name is trading4life.
      I just joined this forum.
  • Topics

  • Posts

    • Date: 15th April 2024. Market News – Negative Reversion; Safe Havens Rally. Trading Leveraged Products is risky Economic Indicators & Central Banks:   Markets weigh risk of retaliation cycle in Middle East. Initially the retaliatory strike from Iran on Israel fostered a haven bid, into bonds, gold and other haven assets, as it threatens a wider regional conflict. However, this morning, Oil and Asian equity markets were muted as traders shrugged off fears of a war escalation in the Middle East. Iran said “the matter can be deemed concluded”, and President Joe Biden has called on Israel to exercise restraint following Iran’s drone and missile strike, as part of Washington’s efforts to ease tensions in the Middle East and minimize the likelihood of a widespread regional conflict. New US and UK sanctions banned deliveries of Russian supplies, i.e. key industrial metals, produced after midnight on Friday. Aluminum jumped 9.4%, nickel rose 8.8%, suggesting brokers are bracing for major supply chain disruption. Financial Markets Performance:   The USDIndex fell back from highs over 106 to currently 105.70. The Yen dip against USD to 153.85. USOIL settled lower at 84.50 per barrel and Gold is trading below session highs at currently $2357.92 per ounce. Copper, more liquid and driven by the global economy over recent weeks, was more subdued this morning. Currently at $4.3180. Market Trends:   Asian stock markets traded mixed, but European and US futures are slightly higher after a tough session on Friday and yields have picked up. Mainland China bourses outperformed overnight, after Beijing offered renewed regulatory support. The PBOC meanwhile left the 1-year MLF rate unchanged, while once again draining funds from the system. Nikkei slipped 1% to 39,114.19. On Friday, NASDAQ slumped -1.62% to 16,175, unwinding most of Thursday’s 1.68% jump to a new all-time high at 16,442. The S&P500 fell -1.46% and the Dow dropped 1.24%. Declines were broadbased with all 11 sectors of the S&P finishing in the red. JPMorgan Chase sank 6.5% despite reporting stronger profit in Q1. The nation’s largest bank gave a forecast for a key source of income this year that fell below Wall Street’s estimate, calling for only modest growth. Apple shipments drop by 10% in Q1. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • The morning of my last post I happened to glance over to the side and saw “...angst over the FOMC’s rate trajectory triggered a flight to safety, hence boosting the haven demand. “   http://www.traderslaboratory.com/forums/topic/21621-hfmarkets-hfmcom-market-analysis-services/page/17/?tab=comments#comment-228522   I reacted, but didn’t take time to  respond then... will now --- HFBlogNews, I don’t know if you are simply aggregating the chosen narratives for the day or if it’s your own reporting... either way - “flight to safety”????  haven ?????  Re: “safety  - ”Those ‘solid rocks’ are getting so fragile a hit from a dandelion blowball might shatter them... like now nobody wants to buy longer term new issues at these rates...yet the financial media still follows the scripts... The imagery they pound day in and day out makes it look like the Fed knows what they’re doing to help ‘us’... They do know what they’re doing - but it certainly is not to help ‘us’... and it is not to ‘control’ inflation... And at some point in the not too distant future, the interest due will eat a huge portion of the ‘revenue’ Re: “haven” The defaults are coming ...  The US will not be the first to default... but it will certainly not be the very last to default !! ...Enough casual anti-white racism for the day  ... just sayin’
    • Date: 12th April 2024. Producer Inflation On The Rise, But Will Earnings Hold Demand Steady?     Producer inflation rose slightly less than previous expectations, but the annual figure continues to rise. The annual PPI rose to 2.1% and the Core PPI rose to 2.4%. The NASDAQ and SNP500 end the day higher, but the Dow Jones continues to struggle. This morning earnings kick off with the banking sector including JP Morgan, BlackRock and Wells Fargo. All 3 stocks trade higher during pre-trading hours. The Euro trades lower against all currencies despite the ECB’s attempt to establish a hawkish tone. USA100 – The NASDAQ Climbs Higher, But Is the Growth Sustainable? The NASDAQ was the only index which did not witness a significant decline at the opening of the US session. In addition to this, the USA100 is the only index which is witnessing indications of a bullish market. The price has crossed onto a higher high breaking the resistance level at $18,269. The index is also trading above the 75-Bar EMA and at the 65.00 level on the RSI which signals buyers are controlling the market. However, a similar large bullish impulse wave was also formed on the 3rd and 5th of the month and was followed by a correction. Therefore, investors need to be cautious of a bearish breakout which may signal a correction back to the 75-bar EMA (18,165). The medium-term growth and its sustainability will depend on the upcoming earnings data.   Bond yields declined during this morning’s Asian session by 18 points, which is positive for the stock market. However, even with the decline, bond yields remain significantly higher than Monday’s opening yield. This week the 10-year bond yield rose from 4.424 to 4.558, which is a concern. If bond yields again start to rise, the stock market potentially can again become pressured. 25% of the NASDAQ ended the day lower and 75% higher. This gives a clear indication of the sentiment towards the technology sector and reassures traders about the price movement. Another positive was all of the top 12 influential stocks rose in value. Apple, NVIDIA and Broadcom saw the strongest gains, all rising more than 4%. Producer inflation read slightly lower than expectations, however, the index continues to rise. The Producer Price Index rose from 1.6% to 2.1% and the Core PPI from 2.1% to 2.4%. Therefore, it is not indicating inflation will become easier to tackle in the upcoming months. For this reason, investors should note that inflation and the monetary policy is still a risk and can trigger strong bearish impulse waves. EURUSD – The Euro Declines Against Major Currencies The European Central Bank is attempting to concentrate on the positive factors and give no indications of when the committee may opt to cut rates. For example, President Lagarde advises “sales figures” remain stable, but the issue remains they are stably low. Officials said the decline in prices generally confirms medium-term forecasts and is ensured by a decrease in the cost of food and goods. Most experts continue to believe that the first reduction in interest rates will happen in June, and there may be three or four in total during the year. Due to this, the Euro is declining against all currencies including the Pound, Yen and Swiss Franc. The US Dollar Index on the other hand trades 0.39% higher and is almost trading at a 23-week high. Due to this momentum, the price of the exchange continues to indicate a decline in favor of the US Dollar.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • $MSFT Microsoft stock top of range breakout above 433.1, https://stockconsultant.com/?MSFT
    • $AMZN stock just another breakout, https://stockconsultant.com/?AMZN
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.