Limit order, how it is matched up ..

D

dabster

New Member
#1
#1
This could be a newbie question, but if I place a Limit order at a price x.05 and the scrip price goes *below* this price but doesn't come exactly to x.05, will my order get executed or not ?
 
SavantGarde

SavantGarde

Well-Known Member
#2
#2
Limit Order whether Buy or Sell will be matched at the exact price only... when you have somebody at your price on the opposite side of the trade.... or in case if yours is Buy Limit Order then it will get matched by somebody offering at your price or lower.....

Similarly...for a Sell Limit Order..... somebody on the opposite side willing to Buy at your price or Higher....

SG

dabster said:
This could be a newbie question, but if I place a Limit order at a price x.05 and the scrip price goes *below* this price but doesn't come exactly to x.05, will my order get executed or not ?
Click to expand...
 
D

dabster

New Member
#3
#3
SavantGarde said:
Limit Order whether Buy or Sell will be matched at the exact price only... when you have somebody at your price on the opposite side of the trade.... or in case if yours is Buy Limit Order then it will get matched by somebody offering at your price or lower.....


SG
Click to expand...
So I set a Buy order with limit of x.05 and the price goes down to x.01, will my buy order be executed ?
[I am getting this from the last line above as you say - /price or lower/]
My bad on not knowing this crucial dot point..
 
SavantGarde

SavantGarde

Well-Known Member
#4
#4
If the Seller's price goes below your Limit Order then your order at your price will have already been executed....not only your but all orders at your price....

Like I said earlier....your Limit order will be executed... at the exact price of your order....

SG

dabster said:
So I set a Buy order with limit of x.05 and the price goes down to x.01, will my buy order be executed ?
[I am getting this from the last line above as you say - /price or lower/]
My bad on not knowing this crucial dot point..
Click to expand...
 
D

dabster

New Member
#5
#5
Exactly that's what I thought should be the case. I have multiple buy limit orders with Reliance Money Account which didn't got executed. and they are trying to convince me that if the scrip price goes to x.01 (when my order is set to x.05) it will not get executed for the day as the script didn't touch the exact x.05 amount..

What service reliance money guys have.. shucks!
 
SavantGarde

SavantGarde

Well-Known Member
#6
#6
If it weren't a public forum.... you would have heard the choicest of expletives...for them.....anyways....
This is something I have always maintained.....
Never open Demat & Trading Account with banks.... & have nothing to do with Ambanis.....

Sincere suggestion close all your account with them & move to Angel if it is close by or open with Zerodha.... please go through Zerodha's thread in the Broker's section of the forum... to read up on Pros & Cons....

Now let me explain....about your limit order....on the Trading Terminal...you see Bid, Bid Quantity, Ask & Ask Quantity

Bid & Bid Quantity are Buyers for that particular quantity at the price you see on the terminal.... similarly 'Ask' are the sellers....

If your Bid for whatever Quantity is x.05 and then later you see x.01 for that matter even if you see x.04 your order should have been executed...it is as simple as that....

SG

dabster said:
Exactly that's what I thought should be the case. I have multiple buy limit orders with Reliance Money Account which didn't got executed. and they are trying to convince me that if the scrip price goes to x.01 (when my order is set to x.05) it will not get executed for the day as the script didn't touch the exact x.05 amount..

What service reliance money guys have.. shucks!
Click to expand...
 
SavantGarde

SavantGarde

Well-Known Member
#10
#10
Always remember to save your 'Orders' & 'Trades' just incase you need to complain to the regulators or the exchanges.....also with any broker.... maintain a paper trail.... so that you have ample proof...conversations on the phone.... don't amount to very much and they are very adept at avoiding pulling out telephone recordings....

SG
 
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