Limit order fills

[chris777]

When wanting to buy on CL, for example, if I place a limit order to buy at 80 and the price, which is ABOVE 80, suddenly bolts down through the 80 order to, lets say, 75, is it possible to get filled at a better price than the 80 ( filled in the 79 to 75 range), or will the fill be at 80 since it's a limit order?

2nd scenario: With the same above limit order set at 80, is there any way to get a worse fill than 80. For example, the CL price bolts down through the price, yet back up so quickly that the order gets filled at a worse (higher) price, 84, for example?

Will there be a difference in the above scenarios when sim trading vs. live?

Thanks very much!

[NinjaTrader_Lance]

Hello,

When wanting to buy on CL, for example, if I place a limit order to buy at 80 and the price, which is ABOVE 80, suddenly bolts down through the 80 order to, lets say, 75, is it possible to get filled at a better price than the 80 ( filled in the 79 to 75 range), or will the fill be at 80 since it's a limit order?

While there is no guarantee you would get filled at all, by definition limit orders may only get filled at the specified price or better. Your fill price will be dependent on market conditions and your broker.

2nd scenario: With the same above limit order set at 80, is there any way to get a worse fill than 80. For example, the CL price bolts down through the price, yet back up so quickly that the order gets filled at a worse (higher) price, 84, for example?

Will there be a difference in the above scenarios when sim trading vs. live?

You will not be filled at all if you are not able to be filled at the specified price or better.

There are differences between sim and live trading. Limit orders are handled the same regardless but fill prices may be different: http://www.ninjatrader.com/support/h...ime_vs_bac.htm

Let me know if I can be of further assistance.