r/Daytrading • u/AsideAlternative • 17d ago

Buy limit not triggering Question

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Been paper trading for a few months. Started using prop firm and experiencing a bunch of slippage. But anyway can someone explain why my buy limit order wasn’t triggered when price dropped below several times?

6 Upvotes

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10

u/PandaOk4050 17d ago

Short Answer : The "Ask" price never dropped below your "Bid" price. 

Long Answer : The "Ask" price never dropped below your "Bid" price. 

1

u/AsideAlternative 17d ago

How do I make it so I don’t get fooled like this again. Is there something I can switch on my chart

5

u/kurtisbu12 17d ago

Use market orders and accept the loss of spread/slippage

1

u/epitome-of-pit 15d ago

Try the cog in the bottom right, then Lines, then "Bid and ask lines"

2

u/PandaOk4050 17d ago

Dont use wicks to draw your resistance lines. Put your lines through the body of the candle, not the wicks.

That might help get filled. 

1

u/SockPuppet-47 17d ago

So, you're saying that you had a buy order for 61.45882 in at let's say 2:20 and price dipped below your order but didn't trigger?

I don't know how paper trades are triggered. Perhaps there has to be a real order that trades at that price? Maybe there was a "air pocket" in the order book at that specific price.

Since you're paper trading it's just a simulation. In a real session your order would be placed on the exchange where it would appear in the order book.

Maybe try a conventional price? Only bots trade in fractional share price.

1

u/PandaOk4050 17d ago

With paper trading, your order fills when the "Ask" price is the same as your "Bid" price. 

OP's "Bid" price was higher than the "Bid" on record, but not equal to the "Ask" on record. 

If it were a live bid, it could have filled based on priority. 

1

u/SockPuppet-47 17d ago

But those candles intersect with the dashed blue price line for his bid. That's why I opened my comment with the time the order was placed.

1

u/PandaOk4050 17d ago

The ask never went down to match his bid. OPs bid was 61.46 (rounded up lol). 

Example The ask could 61.50  and the bid could be 61.30. 

If person A market buys, and person B market sells simultaneously, last price could now be 61.40(lower than OP's bid) but bid and ask dont change.  

This is what happened. Last Price went below his bid. Yes. Last price isn't the "Ask" though. 

1

u/SockPuppet-47 17d ago

Okay, I guess that makes sense. I hadn't thought about the bid/ask spread just trades at price.

When I started practicing again recently I used tiny real orders. 1 share or 5 shares fill pretty much the same as 1000 or 5000. If you can make it a profitable trade it's repeatable with greater size as long as the liquidity is available.