Placing correct order in Forex Market

#1
Hi Friends,

I've heard about PIP in forex market quote.

I wanted to know what's the correct method of order entering.

Foreg: Let say the current quote for USD/INR is 52.8750

If i place buy order as below.....
52
52.8749
52.875

Which order will be executed and which will be rejected and the reason for the order rejection.

Thanks in Advance.
Durai007
 

hills_5000

Well-Known Member
#2
Is that the BID or ASK that u have quoted. I am assuming it is the ASK... 52 will get executed since it is lesser than current ASK......as will 52.875.. since it is the current ASK....



Hi Friends,

I've heard about PIP in forex market quote.

I wanted to know what's the correct method of order entering.

Foreg: Let say the current quote for USD/INR is 52.8750

If i place buy order as below.....
52
52.8749
52.875

Which order will be executed and which will be rejected and the reason for the order rejection.

Thanks in Advance.
Durai007
 
#3
I just wanted to know whether the order would be accepted by the system or not.

I'm not bother whether the order will be execute or not.


As the quote in forex market comes with PIP.

Placing order with
52
52.875 is it's correct.

or placing order 52.8754 is the correct.
 
#4
I just wanted to know whether the order would be accepted by the system or not.

I'm not bother whether the order will be execute or not.


As the quote in forex market comes with PIP.

Placing order with
52
52.875 is it's correct.

or placing order 52.8754 is the correct.
That was rude...

moreso when ur query was "Which order will be executed..."
 
#5
Hey friends,

I apologise if it sound very rude, but i did not mean to be rude.


Let me frame the question again..........
Which order will be accepted by the system.
USD/INR
52
52.750
52.7850

Or will all the order will be accepted, if not then the reason.

I hope this time i've framed the question properly.

Thanks in advance,
Durai007
 

SavantGarde

Well-Known Member
#6
Durai,

You missed the important point of NOT mentioning what is the current Bid & Ask when you are placing the orders for 3 different prices as mentioned by you.


System will accept all orders upto the LC & UC for that day.

Execution of the orders shall happen on the higher price preference in view of the 'Ask'

For the same reason your orders will be enqueued in the system.


SG


Hey friends,

I apologise if it sound very rude, but i did not mean to be rude.


Let me frame the question again..........
Which order will be accepted by the system.
USD/INR
52
52.750
52.7850

Or will all the order will be accepted, if not then the reason.

I hope this time i've framed the question properly.

Thanks in advance,
Durai007
 

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