- Joined
- 8 March 2007
- Posts
- 2,655
- Reactions
- 3,621
The collapse of the crypto exchange FTX
Reminds me of a story about how someone like Sam Bankman-Fried’s (FTX) made it to the top & failing to stay there.
The story about a bull & a pheasant.
Hi all, I have a question someone may be able to help me with (completely off the current topic)
I am trying to trade low volume / turnover stocks in the US with a very basic mean reversion strategy. The strategy uses limit orders for entries. Now in Australia with the ASX as I understand it, if a limit order is submitted to the market before the open, the openg auction will consolidate the orders and should the OPEN price be less than my limit price I would be filled at the OPEN price.
Now I seem to have foolishly assumed the same thing happens in the USA.
Here is a chart from tradestation. I submitted a limit order (via TS automation) to enter at a limit price of $145.97.
The OPEN of the candle was $143.39.
My order was filled at my limit price of 145.97, which both TS and Norgate data both say the high of the day was $145.00
So how was I filled at a price which is outside the candle?
Have I missed something ridiculously obvious???
Cheers
Matt
View attachment 149023
Sorry was this directed at my post?I have traded shares On the Open for over 2 decades
4 decades if you count those decades with little funds
and I have learnt "ONE THING"
Good Buying on the Open "Cannot be Automated!"
It is all Smoke and Mirrors marketing IMHO
Nobody has ever lived through 2-4 weeks in real time in front of us
All they talk about is how it worked in the Cinderella years a few years ago
Do the Hard yards for yourself if you doubt me and say that I am wrong
What a Joke!
I see Holes Every where! In "AI" buying on the open
Salute and Gods' speed
View attachment 149467
In the US you should be able to place a MOC (market-on-close) order, yes? An order that will be filled at the official closing price.Sorry was this directed at my post?
I'm not quite sure what you're getting at here?
The question came about because I found a descrepancy between my amibroker backtest and what I was able to achieve in actual market trading conditions. Being that if I submit a limit order tonight and the market gaps in my favor on the next trading day, should I not expect to be filled at the OPEN price.
The strategy in question buys using limit orders not specifically at the open...
FWIW I'd actually argue from experience that buying and selling at the CLOSE is significantly harder!
From @ducati916 post today
I found this to be an interesting comment from Alameda's 28-year-old CEO Caroline Ellison who Sam Bankman-Fried’s blames for the failure of FTX.
View attachment 149449
Skate.
|
|
Yes a MOC order can be submitted, and in certain circumstances it works fine ie a nBarExit.In the US you should be able to place a MOC (market-on-close) order, yes? An order that will be filled at the official closing price.
The downside however, is that everyone now has 12+ hours to see the same signal that you have and market edges seem to disapear over time.
Hello and welcome to Aussie Stock Forums!
To gain full access you must register. Registration is free and takes only a few seconds to complete.
Already a member? Log in here.