Ease of fills at current price!

Discussion in 'Index Futures' started by madmax98, May 7, 2008.

  1. I plan on trading the ES soon, i'm going to use IB and Ninja Trader < unless somebody can recommend a better combo>. And i was wondering how easy it is to get filled when the price hits your limit. Is it reliable? is it consistant? Is it fast? please let tell me your experience of the these variables. thnx
  2. I would demo the OpenECry platform as well. Many of the same features as Ninja, but FREE with FREE data.

    Surprisingly, free here does not mean junk. The platform is very nice.

  3. If you are using limit orders on the ES and trying to buy on the bid / sell on the offer and putting in orders at or close to the current maket the price has to trade through your limit price to get a fill. Once the price trades through your limit price you have an instant fill. The basic problem with ES is that at any price level there are almost always too many bid/offer orders ahead of you in the queue. If you look at the ES DOM long enough you will see how ES trades.
  4. thnx bf19, i'll give it a closer look.
    Jeb, what do you mean by the price going through my limit? do you mean it has to hit my limit and go beyond it, or do you mean it has to hit my limit level? Thnx for replying...
  5. KS96


    With limit-orders you will get filled on *all* the losers
    and miss some (maybe homerun) winners.
  6. "With limit-orders you will get filled on *all* the losers
    and miss some (maybe homerun) winners"

    small edges make a difference. the VAST majority of my entries are limits. some are set hours or days in advance (even for daytrading prices). that's how to get in early in the cue.

    also, i trade YM. if yer worried aobut getting limit orders filled, YM is superior. i get filled on bid/ask all the time. rarely on ES.
  7. There is a such thing as a marketable limit order crossed through the market.
  8. ES market is 1397.00 x 500 by 1397.25 x 500. If you place a limit order to buy 10 @ 1397.00 you will not see a fill unless 1396.75 trades because of the 500 ahead of you in the order queue. If you place a limit order to buy 10 @ 1397.25 you will have an instant fill because you are lifting the offer.

    Spend day after day looking at a 1 minute chart of ES and the DOM and you will see exactly how ES trades.
  9. I trade very small volume of ES. IB quoted me $4.70 per round turn including all fees. Take a look at Velocity Futures. With free Ninja Trader Velocity Futures offered me $3.98 per round turn including all fees. IB offers the ability to enter orders through a web browser but Velocity Futures does not. I went with another firm, Go Futures, who offered me $4.30 per round turn and the ability to enter order through a web browser.
  10. Thnx guys for all the replies. Will take a look at velocity futures.

    Jeb9999, i get your point, it's a matter of waiting for your turn to get filled, is there a way, strategy or software to ensure having better position in line?

    My strategy is very short term scalps, and getting filled at the current price makes a huge difference, as opposed to getting filled a tick more or less than the current price.
    #10     May 7, 2008