[Trader's Handbook] Draft articles, "out of pocket" discussions - page 3
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everything is easier to understand if we remove the concept of a market order and look at the market glass.
we can only put requests with a specified price and lot, for the cup it's just a request - initially what we send
We have market orders, limit orders, stop orders and so on. (you can think of other ones: stop-limit, I often hear it)
the market order is the same as the limit order (you may think of other words: stop buy limit, stop stop stop, etc.).
each market, to understand what is a buy (buy) and what is a sell (sell), has its own definition
ZS: ... there's no more black or white, only green. Light green forwards, dark green backwards )
It is easier to understand if you remove the notion of a market order and look at the market rate.
we've taken another breath here. Deeper.
- Limiters don't slip to the negative side, unlike marketable FOKs.
You can't slip only when you hit it with a market order, i.e. if it was standing still and you hit it with an opposite sex order
i.e. if it was standing without disturbing anybody it is called a limit order and the one you deleted is called a market order but it is essentially the same as a limit
iE: the same limiter that i used to hit the market, but in essence it's the same limiter and limiters don't go negative - unlike market FOKs,
but no farther (negative side) than specified in the application
Hello. A market order and a limit order are fundamentally different.
With what?
One fills the glass, the other empties it.
One is principal in price, the other in performance.
One fills the glass, the other empties it.
One is principled on price, the other on performance.
Don't you think that's just what we think?
Don't you think we're just imagining things?
Sanni, let's not fluster.
It's kind of hard for you to take that as a pruf.
(you can think of another one: stop buy limit, I hear that a lot)
After all, level3 is essentially market orders -- stops and margin calls. It doesn't make sense to me. Or correct me if I'm wrong. It is clear that they are not available to mere mortals anyway, but it doesn't hurt to know.
Level3 is not stops and margin calls,it is every sneeze that happens to each order - put, change, delete.
If there are no hidden volumes in the stack - you can restore from these data the state of the stack at any time and the flow of transactions (and see when they occur).
The question of correctness of "execution of sell limit on bid" - is only a question of whether we consider an atomic operation of order placement and following deals. ;)
p.s. Such data is quite available to mortals. RTS even has docs on this topic on its ftp. http://ftp.rts.ru/pub/support/FAST/oldest/Message%20Types%20and%20Interpretation.pdf
But how can a Sellimit be executed by Bid if it is filled by a market order?
I tried to explain what was not clear, but I got even further into the wilderness.)
So the Sell Limit (Ask) is always executed at the price of the opposite Buy Limit (Bid)
we simplify the equation, Ask always overlaps Bid and we get Last
i don't understand it after years of watching the market through mt4
and from what we see, all we see is the same on the other side of the screen )