OK, if you were hitting the "ask" then they properly rejected your order as the "ask" would be above the daily limit. Bids were @ 66.525 (daily limit) so ask was higher. You can't trade above/below a daily limit so they rejected your order. If you had placed a buy limit @ 66.525 your order would have been filled, eventually.
OP could be right about limit orders getting rejected. From what I remember a couple years ago when I got stuck in lumber limit up, all my market AND limit orders at the bid got rejected (I admit my memory could be off about the limit orders but I believe that's what happened).
No need too. I got out. small losses. I could actually have MADE money if I just held a little longer because it actually went lower than my short price! lol. But I didn't want another panic buy situation. Flat is a position. Additionally, I would have saved money not buying the dec hedge. But overall, I got out rather unscathed! whew! What I learned is NOT to panic in the future. Figure out a plan and execute it. Always have faith in my chart analysis. I got out too soon at the open when my chart said just wait... if my chart analysis had said cover NOW then it would have been the right choice. Nevertheless, I lucked out.
I would have thought that learning and studying a market before you participate would have been “the first” thing you learned... If you had done that with hogs - you would have seen that there were three limit move days prior during the past three months. It’s not an uncommon occurrence with commodities btw.
That too. I thought it was too obvious lesson already expounded here. I will study/research a commodity before trading it. I can't assume all futures will be like financial and index futures. Thanks for pointing that out.
What I noticed that there are several elements at work on ET. There are good ETers who encourage, inform, and give motivations to other traders. Thank you to @Overnight , @bone @Bum @JSOP @Gotcha @ironchef @murray t turtle and many others. Then there are others who like and wish to see other fail and laugh at them. Anyhow. I basically almost made back all of my losses in HE. A few more good trade and I'll be back in the green. So instead of setting me back 5 days in my worst case scenario, I'll be back where I was at the beginning of September trading which was yesterday morning. Whew.
%% I like to keep notebook records also,T99.;oVer time i did much better with more/ much more average daily volume . Like about 1 million+ or 33 million @ average day Volume..................................................................