gaps

This is a discussion on gaps within the Spread Betting & CFDs forums, part of the Commercial category; hi all, just a quick question, I am only paper trading at the moment but need to clarify something. If ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Nov 10, 2008, 7:56am   #1
Joined Sep 2004
gaps

hi all, just a quick question, I am only paper trading at the moment but need to clarify something. If I placed a buy order above the friday close of GBP/JPY and as occured last night the pair gapped up at the asian open with my order below, would that order be triggered and I have a profitable open position, or would it be triggered if the pair fell back down to the order level ? Hope thats clear enough....
bently is offline   Reply With Quote
Old Nov 10, 2008, 8:20am   #2
Joined May 2001
You can only place a 'Limit Buy' below the market. In the situation you mention with a Buy Order above the market you'd have to use a 'Stop Order'. A Stop Order would be filled at the first tick once your order level was breached. So in this case your fill would be some way from the level set in your order.

Hope this helps?

No free lunches I'm afraid!

Steve.
stevespray is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Pre-Market Gaps Over the Top Discretionary Trading 2 Nov 23, 2009 2:34pm
Setting up Gaps ashwoka Trading Software 2 Jul 14, 2008 1:12pm
Gaps in DOM grantx General Trading Chat 7 Mar 14, 2008 4:24pm
Gaps Futures2005 Technical Analysis 2 Sep 26, 2005 4:40pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)