NEVER Place Market Orders : Place ONLY Limit orders

[murthymsr]

Hi all,

Today's Nov futures chart of Minifty at 11:48 showed a very interesting DEEP fall, see attached chart.

The chart was in the range of 4695 to 4725 since morning.

But at around 11:48, the price went down to 4588, indicating a fall of more than 100 points, but recovered immediately in the very same minute.

I observed this phenomenon on the TradeAnyWhere supplied by CanMoney. Other platform users may also check and confirm if they too noticed the same behavior. Assuming that this is a real momentory fall, I presume that this is because, at that moment, there is a buy order @ 4588 and a market sell order brought in to match.

This is the risk of placing a market order.

Senior traders may please go through and make their comments, please.

Thanks for your time.

murthymsr

 

[MurAtt]

Nopes ... shows 4649 as low in my terminal.
ICICI shows 4670 as day low ...

So .. could be anyones guess ...

 

[murthymsr]

Nopes ... shows 4649 as low in my terminal.
ICICI shows 4670 as day low ...

So .. could be anyones guess ...

Thanks murtaza,

Now I have checked with NSE site, which showed the day's low of 4588 and not as 4588. NSE site charing also did NOT show that dip.

So, it must be a problem with the charting software. Did any others with TradeAnyWhere supplied by brokers other than CanMoney (Mine is CanMoney) experience this drop?

But still, Placing limit orders is better !!

Thanks.

murthymsr

 

[trader.trends]

murthymsr

Looks like your charting was helping with a helpful prediction. The low predicted by your chart achieved. Veteran traders say, "The screen will talk to you". Looks like some communication from your screen.

 

[whyLately]

An example from options

The basic advice on taking the effort to place limit-orders or stop-buy/stop-loss orders instead of market orders seems good whatever the case.

I have an example from 27th Oct, before expiry. Market was breaking down rapidly and had broken 4900. At that time, Level II showed no sellers 4900PE and 5000PE.

Now this could have been a broker's data problem. But 5000PE showed no sellers on two occasions and less than 5K selling volume for about 2 mins so it is unlikely that this is erroneous data.

Wish I had a 5000PE to sell (did have the time to take a screenshot). It would have been a nice experiment to place a limit sell @200 to check if it filled somebody's market order.

(Apologies, the screengrab is wide).

 

[trader.trends]

NSE site charing also did NOT show that dip.

Earlier the charting was on the home page. Now it has been shifted to historical data section. But when I try to open it, it shows loading and does not even after a long time. Is there any thing to tweak or is it only for TAME subscribers?

 

[kumark]

Hi,

Click on the TAME Lite in Home page...it will give u the Charts..

Regards

Kumar

 

[trader.trends]

Hi,

Click on the TAME Lite in Home page...it will give u the Charts..

Regards

Kumar

I did that and it is not giving me the charts, opens another window says loading and does not load.

 

[murthymsr]

Earlier the charting was on the home page. Now it has been shifted to historical data section. But when I try to open it, it shows loading and does not even after a long time. Is there any thing to tweak or is it only for TAME subscribers?

I am not a TAME subscriber.

This charting needs Full Java or java runtime Environment, which you may download from:

http://www.java.com/en/download/manual.jsp

The Java animation runs for about a MINUTE and the chart is displayed.

Hope this may work, and I do not know of any other reason.

murthymsr

 

[murthymsr]

I did that and it is not giving me the charts, opens another window says loading and does not load.

Same with me too, so I too thought that is for subscribers only.

murthymsr