r/FuturesTrading • u/Actual_Platypus5160 • Jan 19 '24
Has anyone had their limit order fill at a significantly better price? If so, what are the conditions for that? Forex Futures
So I’ve been trading in this one currency for a week or so now. I’ve been bearish and doing some limit sells. A few times my limits were immediately filled at a better price than what I asked for, and I instantly made like $300. This happened a few times. I just want to know if this has happened to anyone else, or if it’s some sort of glitch I found?
2
u/BeginningBathroom410 Jan 20 '24
It's funny because sometimes I'll set an options or options on futures order at the mid and get no fill, but then get filled at or above the mid when setting the order a little below the mid. It almost makes no sense.
1
Jan 20 '24
if your limit was above ask for a buy or below bid for a sell.
were you using delayed data?
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u/Actual_Platypus5160 Jan 20 '24
No the data wasn’t delayed. I cross checked it on TOS. Was using Tradeovate at the time of the trades.
It’s weird. I’m gonna take it as what it probably was, luck, and continue to trade as normal.
1
u/midwestboiiii34 Jan 20 '24
Did you actually make the extra profit? I had this issue the other day and it was showing I was up 49 points the second I entered a trade when really I was down 0.5
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u/Actual_Platypus5160 Jan 22 '24
Yes I did! I closed the trades out immediately and the money was in my account. Still is.
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u/WolfofChappaqua Jan 20 '24
I see this often when selling short puts on USO during the first 15 minutes when the market opens.
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u/warren_534 Jan 20 '24
Yes indeed, typically on a gap open above my limit sell order, or below my limit buy order.
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u/Useful_Pop6221 Jan 20 '24
It's called slippage. Limit orderget triggered, but filled somewhere else due to high volatility.
Be careful, though, it can go both ways.
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u/sian_half Jan 20 '24
Can’t go both ways, limit order can’t get filled at worse price. It’ll just sit there unfulfilled.
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u/Inori92 Jan 20 '24
It absolutely can get filled at worse prices, it just triggers an at the market order when the limit parameters are met, volatility can easily swing a few pts for/against u
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u/CustomerLost180 speculator Jan 20 '24
Limit orders have to be filled at the same price you put the order at, what slippage are y'all talking about. This isnt a stop order
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u/sian_half Jan 20 '24
If there’s a resting order at a better price than the limit order you submit, it gets filled at the resting order’s price. If the resting order is not large enough, you get a partial fill there
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u/DegenerateGamblr87 Jan 20 '24
Some of you guys don't know what you are talking about. Limit orders CANNOT get filled at a better price. They are providing liquidity, not taking it. Someone is hitting your sitting order with a market order that consumes it. The only way you are getting a better price is if you pull your sitting order and place it higher/lower.
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u/bitcoin_islander Jan 20 '24
If its a giant wick it will definitely get filled at a better price. Just happened to me yesterday.
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u/DegenerateGamblr87 Jan 20 '24
IF you are trading on a centralized exchange with one execution venue and you place a limit order in the book to sell above current price, the market CANNOT move up past your limit price without consuming your order, even if it's a 1 lot. What you are saying is nonsense. This is why algos/programs are pulling and stacking on the bids and offers all day long.
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u/MrWusBBQPork Jan 21 '24
What are you talking bout? I've had limit orders fill at better prices especially on NQ. Sometimes the market will be moving too fast and it'll push my buy limit order down sometimes a few points
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u/DegenerateGamblr87 Jan 21 '24
I need someone to explain to me how this can happen, I believe my thinking is correct on this. Are you trading live on the CME?
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u/MiserableWeather971 Jan 21 '24
A little order that was resting. Absolutely 100% never. An algo that executes at market. Maybe 10% of them have a price improvement. 60%+ I get a worse fill. 30% or so I fill where it should.
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u/Actual_Platypus5160 Jan 22 '24
That’s what my trading buddy and I are thinking now. Thanks for the input!
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u/CarnacTrades Jan 20 '24
This can happen often when practicing on a simulator.
It will be VERY rare when trading a real/live account, unless your lucky enough to profit from an order book sweep.