How to impelement LIMIT order with high probability to be executed? | Forex Factory

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How to impelement LIMIT order with high probability to be executed?

  • #1
  • First Post: Jun 13, 2008 8:22pm Jun 13, 2008 8:22pm
How to impelement LIMIT order with high probability to be executed?

I know that LIMIT order means buy at lower than current price and sell higher at current price...

BUT, LIMIT order usually hard to get it executed....

Is there a strategy, maybe? So our LIMIT get hit??
  • #2
  • Jun 13, 2008 8:28pm Jun 13, 2008 8:28pm
Quoting lexraptor
How to impelement LIMIT order with high probability to be executed?

I know that LIMIT order means buy at lower than current price and sell higher at current price...

BUT, LIMIT order usually hard to get it executed....

Is there a strategy, maybe? So our LIMIT get hit??
They're hard to get filled in futures trading.
I've never had a bit of trouble getting limit orders executed in forex.
If you have, you need another broker.
  • #3
  • Jun 13, 2008 8:29pm Jun 13, 2008 8:29pm
here is a thread you might want to read.

http://www.forexfactory.com/showthre...87#post2055387
  • #4
  • Jun 13, 2008 8:37pm Jun 13, 2008 8:37pm
Quoting billbss
They're hard to get filled in futures trading.
I've never had a bit of trouble getting limit orders executed in forex.
If you have, you need another broker.
billbss, could you tell us how do usually set your LIMIT orders? is there any rules? like max pip from current price or time to order? What broker do you use?....Could you tell us an example from your real LIMIT orders??

Thank you..
  • #5
  • Jun 13, 2008 9:57pm Jun 13, 2008 9:57pm
Quoting lexraptor
billbss, could you tell us how do usually set your LIMIT orders? is there any rules? like max pip from current price or time to order? What broker do you use?....Could you tell us an example from your real LIMIT orders??

Thank you..
If the current price is 1.5000 and I want to SELL at 1.5025
I would set a SELL LIMIT order at 1.5025.

If the current price is 1.5000 and I want to BUY at 1.4975, I would open a BUY LIMIY order at 1.4975.

There are no rules. Open SELL LIMITS for prices above the current price.
Open a BUY LIMIT for prices below the current price.

My broker is IBFX. All brokers use the samr terminology except Oanda. They call everything a limit order. I don't know why.
  • #6
  • Jun 13, 2008 10:11pm Jun 13, 2008 10:11pm
Quoting billbss
If the current price is 1.5000 and I want to SELL at 1.5025
I would set a SELL LIMIT order at 1.5025.

If the current price is 1.5000 and I want to BUY at 1.4975, I would open a BUY LIMIY order at 1.4975.

There are no rules. Open SELL LIMITS for prices above the current price.
Open a BUY LIMIT for prices below the current price.

My broker is IBFX. All brokers use the samr terminology except Oanda. They call everything a limit order. I don't know why.
Well, did ur order filled as fast as market order? or ur order get filled when the price move to your limit price??
  • #7
  • Jun 13, 2008 11:22pm Jun 13, 2008 11:22pm
perhaps yours is not being filled becuase you are not takjing into account the spread?

max
Gravity goes both ways in forex...
  • #8
  • Last Post: Jun 14, 2008 6:06am Jun 14, 2008 6:06am
Quoting lexraptor
Well, did ur order filled as fast as market order? or ur order get filled when the price move to your limit price??
They don't get filled until they move to the price.
They aren't supposed to.
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