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Where is my order in the queue?

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yonnie

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hi folks,

how can I see where my order is in the queu?

for instance: NWT 49 buyers wanting to buy 150 million shares.
if I placed a buy order a week ago, where can I see how high up the queu that order is at the moment?

thanks for your help.
 

I don't know how you trade but you should be able to "review' your orders and by clicking on the order number find your place in the queue.
 
God Knows you placed the order, If your a nigel no funds like me then you can't tell all i see is a screen of numbers in their millions and all you can do is take note of ,what, where, when, why. Otherwise you can pay extra a month and have all the bells and whistles and opt for E-TURD Pro and Power E-TURD (Yes my broker is E-TURD but still loyal)
 
I use sanford securities (NAB online trading is also provided by sanford). They charge 10 bucks a month and you can get live pricing and see the full order queue, including where your order is placed in that queue. The 10 bucks a month is rebated if you place more than a certain number of orders a month.
 

I use netwealth online trading. You can see all details of both the buy and sell queues and your order(s) is/are indicated in the applicable queue(s). This is a standard feature with netwealth, together with live quotations, provided at no charge.
 
thank you all for your replies.

interesting feature at netwealth yelnats. do you need to have an order in to see the buy/sell queue?
 

exgeo,

you can see the full order queue you say. can you also the full order queue if you dont have an order in that queue?

thanks
 
Do they still call them an off market bid , held in brokerage queues ?

Like phone orders etc. with set limit prices and stop calls .
 
yonnie said:
hi folks,

how can I see where my order is in the queu?

for instance: NWT 49 buyers wanting to buy 150 million shares.
if I placed a buy order a week ago, where can I see how high up the queu that order is at the moment?

thanks for your help.
Click to expand...

yonnie,

Which broker platform do you use? Some levels of access don't provide you with the functionality to see separate parcels.

I use CommSec and am able to see market depth order by order- if I place an order in the market my order will be highlighted as a separate parcel and the course of sales will have an order ref no next to my parcel once the sell/buy is executed. Note that this extra level of detail only appears in the premium versions of most software (eg ProTrader platinum- possibly available in PTgold as well).

So if you're just using the Commsec web platform it will not even separate orders in the depth, let alone tell you where your order is, you just see the total volume for a particular price level. I imagine that your access level to your brokerage platform is not high enough or you need to change your options to display your order in the queue. Hope this helps.

NB A new order or amendment doesn't show in the depth outside of market hours on PT.
 
thanks exgeo and rich kid for your replies.

I am with IB and for 1 price level they lump all the limit orders together.
not much use if you have 65 people wanting to buy 63 million shares @ 0.007 in BRO.

I would like to see all the 65 orders in BRO separately.

so if I understand exgeo correctly, I could join up with Sanford or National Bank free and pay $ 10 per month for this info without having to trade there.
is that correct?

thanks
 

Hi yonnie

An alternative is to open up a commsec account. Minimum cost for top level access is about $145 pa (ie eto trade per quarter, so you can just buy a deep OTM option for <1c at $35 per trade and let it expire). That gives you access to their whole whizbang website plus ProTrader Platinum (shows options quotes, I recommend PT1 over PT2 as it is more stable).

You do however need to make an initial deposit of 5k to open a CDIA (commonwealth direct investment ac- no ongoing minimum but daily fees apply if you overdraw) and link it to your bank ac for clearing trades, that gives you the benefit of their internet preferred rate which is 19.95 per trade equity trade (upto $10k from memory, please check this). You also have to nominate them as your CHESS sponsor for trades that you clear through them. Please see www.comsec.com.au for complete details and a product disclosure statement, this is just my opinion of what may suit you based only on my personal experience, there may be more suitable solutions available elsewhere.

If you're stressed and require screen shots of the depth for a particular parcel please state the code and the price level and I'll try to post dumps in this thread- you'll will have to ID the number of shares in your order yourself once I post the dumps. Only for two stocks please, if you can get back to me within the hour that'll be best.
 
YELNATS said:
I use netwealth online trading. You can see all details of both the buy and sell queues and your order(s) is/are indicated in the applicable queue(s). This is a standard feature with netwealth, together with live quotations, provided at no charge.
Click to expand...

I use Netwealth but have not seen queues except for 'Stock Quote' and 'Market Depth'. Where do I find 'my order in the queue'?

My order number (in trading menu) is not a 'hotspot' so I can't click on it to see my place in the queue.

If I'm changing an order whilst the market's open it's easy enough to see the change in the number of orders and do the math to add/subtract my number ordered to confirm this. An order placed out of market time is not incorporated until the next pre-opening. So yeah... would be good to see it!

:bananasmi
 
richkid,

no, I`m not desperate that I need screen shots but thank you so much for your kindness.

as a matter of fact I am already with Comsec, but dont use them anymore for my trades.

thank you for your advise which Comsec platform to use and I certainly will look into it.
dont mind paying a few dollars per month for info that is so important to my trading strategy.

thanks
 
richkid,

seems like Comsec Professional Trader costs $ 82.50 per month, so thats a bit rich for me.

or i have to make 15 trades a month to have it for free.
 
yonnie said:
richkid,

seems like Comsec Professional Trader costs $ 82.50 per month, so thats a bit rich for me.

or i have to make 15 trades a month to have it for free.
Click to expand...

Hi yonnie

As you're already with Commsec (I assume you only have access to their web platform and don't use PT gold) you can call up and ask them for their eto form and complete it- that means you can trade options via commsec once it's accepted. All you then have to do is ask them to sign you up for PT platinum (they charge in arrears at the end of the quarter from memory) and make sure just execute one eto trade per quarter (about $35 per quarter as I outlined above in my earlier post).

I found out about this loophole through experience, slowly moved from their web platform to their top level software. Obviously they'd prefer to only talk about their headline monthly fee option for ProTrader access. If you just want to look at advanced market depth options this may not be attractive. Furthermore, I may have missed out on something that may prevent you from taking advantage of this backdoor rate which is clearly designed for options traders.

Now all that is only if you want to.
 
yeah, you`re right richkid

i can get Comsec Professional Trader free if I trade options once a month.

wow, I might even make a good profit on my eto trade!

thanks for the tip
 
just realise that eto`s is on 1,000 shares, so that would add another $ 10 to the cost of the brokerage @ $35.

so the total costs would be $ 180 per year.
just got to see if there`s anything cheaper than that.

thanks
 
yonnie said:
just realise that eto`s is on 1,000 shares, so that would add another $ 10 to the cost of the brokerage @ $35.

so the total costs would be $ 180 per year.
just got to see if there`s anything cheaper than that.

thanks
Click to expand...

Hi yonnie
Yes, apologies, my oversight. There is an options clearing house fee of about $1.12 per contract, so that's an extra $4.50 annually: $184.30 pa (34.95*4 + 40 + 4.50) for unfettered access pa seems about right depending on how low the option spreads go.

I'm not sure how realistic it is to buy options priced at half a cent or less- some of the experienced Aussie options players here on ASF may actually have data or knowledge of such trades.

You might even make a profit out of some of the trades but at one contract at half a cent they'd have to go to the moon to cover all your costs so don't think about that. Would be cheaper to trade options via IB as their commish is much lower.

Also, check to see if it's one options trade per quarter, as I believe it is, or if it's something more frequent. Note that the current commsec quarter is NovDecJan (from memory) .

See how you go with your research comparisons and verify with commsec before you decide.

I have copied the PT related posts to the Commsec PT1 thread so please continue any specific discussion of PT access pricing, eto trading or requirements there.
 

If the cheap option is a means of paying for data, then it could be considered a "free" lottery ticket. Any returns on that option are simply a bonus. If I was doing this, I would be looking for a 1c or less option as close to the money as possible and with only a few days (or less) until it expires. This is when close out-of-the-money options become very cheap and yet have the best opportunity of making something IF the underlying makes a big move into expiry in the direction of your option. No guarantees - but it can and does happen on rare occasions. Risk to reward is great as you are paying the money for data anyway - and even if you only had a win once a year on the option, it's a bonus.

If you buy something further out in time for 1c, the market really would have to make an extraordinary to make anything on it.

Not recommending this as a strategy in itself as time is working heavily against such a position. But it is the greek component in option pricing called "gamma" that can make that option accelerate rapidly as expiry approaches and if the share price exceeds your option strike price - otherwise known as being "in-the-money".

I sometimes use a version of this strategy to hedge gamma in front month short options coming into expiry. In fact, this is the type of trading I would have been doing with IB if the account was still open. While the strategy mostly loses and the options expire worthless, it can provide cheap gamma insurance coming into expiry.

My - hope this helps!
 
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