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.

brownsfan019

OEC Demo & Limit Order Fills

Recommended Posts

I didn't want this to get lost in another thread, so I this thread is to highlight how the demo version of OEC trader works on limit orders.

 

First, I should explain why this is important for any new traders reading this. When you send a limit order to the exchange, you are saying - fill me at this price or better, but do not fill me any worse. The concern with limit orders on demo's is that when you send a limit order on a real, production platform your order 'goes to the back of the line'. In other words, you will get placed at the back of the queue and as price progresses through it, some people get filled and others are left waiting. On some demo platforms, your limit order is filled instantly with no consideration given to the queue system. That is not the best way to work a demo environment b/c it can lead to a false sense of how your fills work in real-time.

 

Second, the OEC demo platform does provide some 'queue filtering' where your order is not immediately triggered when price is touched. It does have to trade it a bit or trade through it in order to get a fill.

 

Here's an example from the RLM on 12-16-09:

 

attachment.php?attachmentid=16667&stc=1&d=1261003759

 

On this example, my 10 contract demo order was filled only after it traded through my entry level even though price had hit my level 2 times.

 

With that said, I don't know of any demo's that can give you perfect, real-time type entries. The queue system is one which is changing by the milli-second so it's unreasonable to assume a demo platform will be able to mimic this perfectly. But it is nice to know whether or not your demo does provide some queue filtering. If you don't know, ask!

 

I also suggest on all demos, including OEC, that if you really want to see if your limit orders got filled in real-time, set your limit 1 tick above/below where you really want to enter. If price touches this level, your limit would have filled in real-time.

 

Example: You want to buy the RLM @ 607.5 with a limit order. Place your limit order @ 607.4. If your 607.4 level is touched (even for 1 second) your 607.5 order would have been guaranteed a fill.

5aa70f844e229_RLMDemoExample.png.4240324dbbbbb79320a91a804a27b4c1.png

Share this post


Link to post
Share on other sites
Guest Tresor

A bit off-topic. Does one trade forex with OEC via the same trading platform as one trades futures?

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.


×
×
  • Create New...

Important Information

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