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Why my limit buy order is not triggered after the current price is above my limit buy trigger price?

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nicolasxu
296
nicolasxu 2015.04.21 11:04 

Limit buy order

this is my limit buy order, trigger price is 1.06845.

 

Here is the current price, which is 1.06850, 5 points more than the limit buy trigger price. I submit this limit buy order at the open price of last 3rd bar and which is 1.06845. After that, the price goes down 15 points and my limit buy order is not triggered. Why is that? 

Correct me if I am wrong, I believe if I limit buy at $3.00, and the price goes down to $2.00. I am paying more then the market price, so my limit buy should be triggered. Is this correct?

 

 

current price 

Roberto Jacobs
46344
Roberto Jacobs 2015.04.21 13:34  
nicolasxu:

this is my limit buy order, trigger price is 1.06845.

 

Here is the current price, which is 1.06850, 5 points more than the limit buy trigger price. I submit this limit buy order at the open price of last 3rd bar and which is 1.06845. After that, the price goes down 15 points and my limit buy order is not triggered. Why is that? 

Correct me if I am wrong, I believe if I limit buy at $3.00, and the price goes down to $2.00. I am paying more then the market price, so my limit buy should be triggered. Is this correct?

 

 

 

Because BUY Order using the Ask Price, and Spread of Currency Pair may be greater than 5 points.
For example: Spread 7 points, 1.06845 + 7 = 1.06852. Therefore price 1.06850 has not been touched 1.06852.
nicolasxu
296
nicolasxu 2015.04.21 15:18  
3rjfx:
Because BUY Order using the Ask Price, and Spread of Currency Pair may be greater than 5 points.
For example: Spread 7 points, 1.06845 + 7 = 1.06852. Therefore price 1.06850 has not been touched 1.06852.

Thanks a lot! 

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