Basic question about limit orders
Posted: Fri May 25, 2007 12:42 pm
Hello,
I have a question about fulfillment of limit orders. Sorry if it is a bit basic!
Assume the price on the GBP:USD is now 1.9840. I am using EFX Group.
I place a limit order to buy when the price reaches 1.9850.
I have found that when the market price = 1.9850, the quoted prices are:
BID:
1.9849
ASK:
1.9851
So will my limit order be fulfilled at market (1.9850) or the ask price when the market price is 1.9850, which = 1.9851?
Thanks,
Alex
I have a question about fulfillment of limit orders. Sorry if it is a bit basic!
Assume the price on the GBP:USD is now 1.9840. I am using EFX Group.
I place a limit order to buy when the price reaches 1.9850.
I have found that when the market price = 1.9850, the quoted prices are:
BID:
1.9849
ASK:
1.9851
So will my limit order be fulfilled at market (1.9850) or the ask price when the market price is 1.9850, which = 1.9851?
Thanks,
Alex