Day Trading & Forex Forum

ShareHog

Hi from a “Newbie’!

I am studying the subject very hard and using demo accounts with different brokers. I am focusing on Stock CFD and start to get a hang on it. But I have identified two areas that need improvements, and in this posting- I will start with the placing of the order.

I understand the basics of Market, Limit and Stop orders (at least I think so). But when I place Limit and Stop orders, I am very bad in actually getting them fulfilled.

Maybe it’s because the demo account I use now is with Saxo and they have some serious delay between the prices listed in the “Prices and Trade” table compare to the price that’s plotted in the graph. Depending on stock- the difference can be everything from 50 cents up to a Dollar and more.

Anyway, for example to enter a Long trade with a Limit order sounds like a plan to me. But in order to optimize my approach, where should I place this order so I get a quick acceptance- but at the same time a good price?

Let’s use an example:

Let’s say that stock XXX has a bullish break-out from an Ascending Triangle pattern at $64.200. A quick look at the Bid and Ask price gives me 64.336 and 64.504. Where should an “optimized” long limit order be places for maximum chance of being fulfilled and at the same time give me a good price?

I hope this is the right forum to post this question…

Thanks and Regards,

ShareHog

Lightning McQueen

Just a thought here regarding the chart and price Quote differentials you have noticed. You may be watching a live-ish quote feed and a 15 min delayed chart, so a mismatch will be inevitable. Try reading the t&c of saxo's demo platform or check the chart, it may state in the corner somewhere if it's delayed. You can always phone them and ask.

__________________

ShareHog

The Saxo software have so many bugs, so it doesn't matter. Their support had no idea either. So I got a new demo software with another broker- installed just 5 min ago. Thanks anyway!

So if we ignore the delay in some demo softwares, if I for example get a break-out from an Ascending Triangle pattern at $64.200 and the Bid and Ask price gives me 64.336 and 64.504. Where should an “optimized” long limit order be placed for maximum chance of being fulfilled and at the same time give me a good price?

In-between the Bid and Ask price? Slightly above the Ask price- like 64.400 (but have to be quick )? Or? Advice is highly appreciated.

Thanks,

ShareHog