Warning MB TRADING filled my limit order wrong plce

Discussion in 'Retail Brokers' started by manz66, Apr 23, 2007.

  1. Beebers

    Beebers

    If memory serves me right (which it often is not), in FX a limit order gets filled at the price only - not at the price or better. That is why a breakout trade at Oanda is ordered via a limit order. Maybe that is where his question is coming from.
     
    #31     Apr 24, 2007
  2. mook

    mook

    Manz, do everyone a favor; close your account and donate the $500 to a charity of your choice.:)
     
    #32     Apr 24, 2007
  3. Yes. However, when it comes to available order types, there is a key difference between full-spectrum brokers like MBT and many retail forex brokers, as mentioned above:

    I'd bet that's where manz66's misunderstanding originates.
     
    #33     Apr 24, 2007
  4. manz66, while you're doing your homework on order types, try hand-writing the following 3 lines, in that specific order -- or maybe even drawing a diagram -- on a sticky (rather than stickup) note and tape it to your monitor or wherever you tape important stuff:

    Buy Stop (Limit) | Sell Limit

    current market price

    Sell Stop (Limit) | Buy Limit

    Until all that is burned in your brain and becomes second nature to you, this note will remind you that both Buy Stop / Buy Stop Limit and Sell Limit orders are entered ABOVE the current market price, while both Sell Stop / Sell Stop Limit and Buy Limit orders are entered BELOW the current market price.

    I did something like that many years ago... must've worked. ;)
     
    #34     Apr 24, 2007
  5. Why's that?
     
    #35     Apr 24, 2007
  6. 1358june

    1358june

    Great Late Apex.
    Finally some help for Manz66 and newbies like me!
     
    #36     Apr 24, 2007