Why is my order always last in line?

Discussion in 'Retail Brokers' started by schizo, Nov 6, 2015.

  1. schizo

    schizo

    I get filled as the price moves up or down to the next price. For instance, my order is placed at 25.50. By the time I get filled, the price is already trading at 25.75. From my experience, I would say that is the case about 80-90% of the time.
     
    #41     Nov 7, 2015
  2. Guile

    Guile

    Shit...dude...that's just life. You've got to average down a few levels if you want to earn the spread as a retail trader. And then hope price mean reverts. Adverse selection is a bitch and nobody is as susceptible to it as a retail trader.
     
    #42     Nov 7, 2015
    cjbuckley4 likes this.
  3. Yo skitzoooo...

    Sounds like you should just accept that you will systematically get filled only when price lifts through. That's what I did when I observed the same thing as you in the futures market. Of note, I no longer trade futures, except from time to time when I get the urge to be relieved of some cash in a hurry, but that is neither here nor there.

    I digress, don't know if you heard, but, there's a rumor going around about all manner of assorted-frequency hootin'nanny computron shenanigans going on down there at the Globex. Anyways, well, if that's the case, there's nothing you can do about it.
     
    #43     Nov 7, 2015
  4. schizo

    schizo

    You don't seem to understand my problem. Consider this simple scenario.

    1) ES is currently trading at 26.00 (bid) and 26.25 (ask) (time: 9:30).
    2) The DOM shows that there are only 50 orders at 29.75.
    3) I soon place a limit order at 29.75 (time: 9:31).
    4) I should be number 51 in the queue.
    5) As ES moves up to 29.50, the offer swell up to 500 (time: 9:40).
    6) When the price trades between 29.50 and 29.75, I should get filled when the order is reduced by 51 (eg. 449).
    7.1) More than 50 are filled as I see in T&S.
    7.2) I never get a fill and the price goes down.
     
    Last edited: Nov 7, 2015
    #44     Nov 7, 2015
  5. I don't trade in the U.S., but don't market orders there have priority over limit orders? So those trades at 29.75 could be market orders to sell that are matched with market orders to buy when the last execution was at 29.75, and could be one reason why your limit order isn't filled.
     
    #45     Nov 7, 2015
  6. Guile

    Guile

    I answered based on this statement:
    I get filled as the price moves up or down to the next price. For instance, my order is placed at 25.50. By the time I get filled, the price is already trading at 25.75. From my experience, I would say that is the case about 80-90% of the time.
     
    #46     Nov 7, 2015
  7. I've had accounts with several futures brokerages and the situation you describe just doesn't happen if your orders are held at the exchange and I've never seen limit orders not held at exchange. It's simply not possible, id say you're just not reading the situation correctly.
     
    #47     Nov 7, 2015
  8. Guile

    Guile

    How often do you see this behavior:

    I get filled as the price moves up or down to the next price. For instance, my order is placed at 25.50. By the time I get filled, the price is already trading at 25.75. From my experience, I would say that is the case about 80-90% of the time.
     
    #48     Nov 8, 2015
    NoVoodooHere likes this.
  9. Agreed, this is normal behavior in my experience.
     
    #49     Nov 8, 2015
  10. So you mean more than 50 get filled at 29.75 and you still do not. All transactions on your TOS are globex transactions? If yes, then something fishy going on with your broker.
     
    #50     Nov 8, 2015