Discussion in 'Psychology' started by Hamb-ltrd, Feb 12, 2004.

  1. Some of the more experienced traders can answer this.

    If I have a limit order to buy and the price goes low enough

    to be executed I expect the trade to be executed.

    It did not, even though the ask price went below my buy limit price.

    I call and the response was the system, their servers, was down
    so my order was never activated.

    Can a broker keep limit orders in teir servers and not send them to the exchange?

  2. yes, it's called a native vs simulated order. Some exchanges do not accept the same set of native orders. Nasdaq accepts most of them I think. NYSE accepts a few less.
  3. So limit and stop orders depend on the functionality of broker"s server to be executed?