The ticking history of the glass. - page 15

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prostotrader:

There are no limit orders

Read the table:

The price of the order, the direction of the order, the type of order.

What does it mean? Replace the word order with the word order.

Get: Order price, order direction, order type.

So there are different kinds of orders, but no limit orders?)
 
Реter Konow:
Do you read the tables you cite?

Read in the header of the table. Read inside the table and below. The words application, order are everywhere.

Application, is a warrant. A bid is in Russian, an order is in English.

An order is always a limit order (limited to one particular price) if its price is different from the current market price.

A different terminology does not mean a different essence of things.

I see.

Thank you for devoting so much time to this thread.

 
prostotrader:

I see.

Thank you for devoting so much time to this thread.

You want to say that limit orders (non-market price orders) don't come to the exchange, apparently meaning that the orders are only accumulated by brokers.

However, how is the data on limiters collected and put into the cup? After all, there are many brokers and the data is scattered. Also, only the exchange is responsible for clearing (bringing the parties together) and one side of the transaction is ALWAYS a limit order and the other a market order.

Therefore, limit orders cannot fail to come to the exchange. There would be no clearing otherwise.
 
Regex Konow:
In simple terms:

I send an order to FORTS that I want to buy at 10 rubles. You send an order that you want to sell for 11 rubles (two limit orders arrive). Who decides who loses a ruble in the transaction?

The market will decide. If the best ask price is reached (i.e. there is a counterparty to your bid) the sell limit is a buy (for you, a sell), respectively the bid bye limit is a sell. The exchange only matches bids/orders. In SME terms, an order is an order to sell or buy, which can be differentiated according to the execution mode: limit - not worse than the indicated price, market - immediately at the best market price, and also according to how the order is filled, the lifetime of the order, etc.The exchange classifies all the orders that come in, the limiters that do not fall under the information algorithm are put in the stack (except for the icebergs) and those that fall under the information algorithm are put into deals. The algorithm can be different, first in first out, first out, proportional, etc. depending on the exchange and the instrument. There are types of orders, which are not visible in the market, but are not brought together by the exchange, for example, iceberg orders and stop orders. The exchange charges an additional fee for keeping and entering such orders. All supported order types are published by the exchange. In short, it is something like this.
 
rjurip:
Regex Konow:
In simple terms:

I send an order to FORTS that I want to buy at 10 rubles. You send an order that you want to sell for 11 rubles (two limit orders arrive). Who decides who loses a ruble in the transaction?

The market will decide. If the best ask price is reached (i.e. there is a counterparty to your order), the sell limit will be bought (for you, it will be sold), respectively, the bid bye-limit will be sold. The exchange only matches bids/orders. In SME terms, an order is an order to sell or buy, which can be differentiated according to the execution mode: limit - not worse than the indicated price, market - immediately at the best market price, and also according to how the order is filled, the lifetime of the order, etc.The exchange classifies all the orders received, the limiters not falling under the information algorithm are put into the market (except for the icebergs) and those falling under the information algorithm are aggregated into deals. The algorithm can be different, first in first out, first out, proportional, etc. depending on the exchange and the instrument. There are types of orders, which are not visible in the market, but are not brought together by the exchange, for example, iceberg orders and stop orders. The exchange charges an additional fee for keeping and entering such orders. All supported order types are published by the exchange. In brief, it is something like this.

It's just like a textbook. ))
I agree. Conceptually, in no way contradicts any of the points I've made.

If I hold firmly to my limit price, no one will open my position to my detriment and the counterparty's benefit. If I send a market bid, it may open at whatever price the market offers at random to ME.

 
Реter Konow:

It's just like a textbook. ))
I agree. Conceptually, in no way contradicts any of the points I've made.

If I hold firmly to my limit price, no one will open my position to my detriment and the counterparty's benefit. If I send a market order, it may open at whatever price the market offers at random to ME.


The essence of the limit order is reflected in the name, i.e. execution at the price specified. For a market order, the correct order is the best ask'-bid price at the time the order is executed. But the price can also move during the execution of the order.
 
rjurip:

The essence of a limit order is reflected in the name, i.e. execution at a specified price. For a market order, the correct order is the best asc'-bid price at the time the order was executed. But the price can also move during the execution of the order.

That's right. It was about the exchange supposedly being able to aggregate limit orders with each other.

No limit order can be changed by the exchange to a market order and executed at an undeclared price. Therefore, it is not possible for an exchange to independently set a limit order.

That's about it.

ZZU. Only limit and market orders can be matched. Limit and market orders do not combine.

Zy. It is possible to aggregate opposite limit and stop limit orders.
 
prostotrader:

Don't you read what is written at all?

There are no limit orders.

There are common terms. If you don't want to use them, that's your business, but don't impose definitions from local exchanges as common.

Re: Konow's tag:

That's right. It was about the exchange supposedly being able to aggregate limit orders with each other.
What's the problem?
 
Реter Konow:

That's right. It was about the exchange supposedly being able to aggregate limit orders with each other.

No limit order can be changed by the exchange to a market order and executed at an undeclared price. Therefore, it is not possible for an exchange to independently converge limit orders.

That's about it.

ZZY. Only limit and market orders can be matched. Limit and market orders do not combine.

Zy. It is possible to aggregate opposite limit and stop limit orders.

Theoretically, limit orders cannot be matched unless the spread is 0. Stop orders are the same as market orders, only subject to execution
 
rjurip:

Theoretically, limit orders cannot converge except at spread=0. Stop orders are the same as market orders, only subject to execution
Well, a spread of 0 means that the ask price is equal to the bid price. That is, there is no bargaining. Both orders are market orders. The buyer is interested in the same price as the seller. So one of them must sit in ward 6 or be consecrated a saint. ))
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