Orders of several to many contracts

#1

Can somebody lay out how orders of 10 or 20 contracts are filled both at entry & at exit? I have been practicing in demo today and am trying to understand if I enter an order, it seems to get filled for all contracts at the price I put in the order all at once. When I have the Take Profit order sitting there, it fills 1 or 2 and then waits for a while and fills another 1 or 2, etc. Just in the event my account size is ever to the point that risk mgt would allow these kind of orders once in a while, I am not sure what to expect in the fills in a live account. Thanks.

Marilyn

#2

That is because you have it as a limit order. The price changes often so if its just barely nicking it for a split second the 1 or 2 are getting filled. If you put in the limit order at say a buy back higher price or sell back lower price it would fill all immediately at the quote. Another reason why i love the stop trigger :slight_smile: Though if your just going for 20 not as helpful… but yeah that is why it hit it literally for a split second. Limit means limit fill me at this price or better or not at all. Works the same in live trading.

So if i want to get filled on a buy - put it in like say $5.00 higher than market it will be like a market order - it will fill me at the best quote i see on the screen there at price available - or put it $5.00 lower than the market on a sell - just do it and see what happens look at order history submitted price - and filled price - the fill will be better than the submit and the fill will be all at once.

Also note demo and live are different demo is a single market maker simulator - live had real market makers and live market makers and multiple levels deep of orders.