How do you buy/sell if there is no market? What Do I Not Understand

#1

As referenced in the attached Snip. I took a position in the Wall Street 30. Now there is no market for this - the current market box is blank. Can I still Buy/Sell if there is no market? Why would a market like this have no market?

Thanks in advance for your feedback.

John

Monday.PNG (20.4 KB)

#2

Yes you can always put in your own prices…maybe the reason for no prices was to due the market maker losing his feed

#3

Not a market maker That’s not a market maker feed its demo. So its not live market pricing. So its not a market maker issue. (color of the screenshot is demo color) Even if it was that is not the issue

Spread is OTM The issue is the ceiling is 16800 and the indicative price is at 16876. That is 76 points above the ceiling of the spread.

Wrong Spread Third lesson here is it looks like you entered around 7:30 AM and the spread was 30 ticks OTM for just the floor and about 50 ticks away on proximity so not sure why you sold that spread. Did you have some expectation of big movement? What system where you using? Did you use the scanner to make it easy to see this information? As unless you had a great reason that was not good spread to buy for a directional trade. The only reason I can see someone choosing this spread is they are looking purely at risk reward not understanding how a spread works. Make sure to watch some of the mistake and misconeption webinars under general forum - webinars - spreads to help you out on this.

So Why is there no quote:

Your spread is WAAAAAYYYYY out of the money (or one could say DITM for the buyer) 76 points out of the money. There is no offer on the trade as there is no value in the spread is an out of the money spread. There may be a bid but no offer. Just open up the ticket I am sure this is what you will see. Even if you could buy it back it would be for basically max loss so why would you want to close it. Your better off giving it the 3 plus hours and letting it come back potentially. Literally there would be zero reason to close it as no one would want to buy a spread that has no premium and is 76 ticks above the ceiling of the spread. Your risk is capped already no reason to close the trade.