Adjusted Futures Trades and Market Orders
I got all excited when I entered my last market order for corn. I checked and corn was trading at 224 ½ So I decided to enter my market order to sell a couple extra contracts.
Usually I just use limit order but every once in a while I decide to go ahead and use a market order to get out of something I just want to sell.
My fills came back at 224 ¾ this was a little surprising, since this almost never happens with any market, and with something that is pit traded like corn you almost have zero chance of this.
So I am really excited about the great fills I got on my market order.
The next day I look at my statement and they made an adjustment to it for the previous day and adjusted my fills to 24 ¼ so they took a half point off of each one of my contracts that I sold.
I guess they have some time period which they can come back and adjust trades.
This is really annoying when this happens but fortunately it does not happen that often and usually I am shooting for a 6 or 8 point profit so half a point does not make or break me.
I guess the guys in the pits realized that they accidentally gave me a good file then figured out a way to move some trades around and take a half point from my trades, I guess that’s the advantage of working at the exchange you get to be on the receiving end of those adjusted trades not on my end of them.
Usually I just use limit order but every once in a while I decide to go ahead and use a market order to get out of something I just want to sell.
My fills came back at 224 ¾ this was a little surprising, since this almost never happens with any market, and with something that is pit traded like corn you almost have zero chance of this.
So I am really excited about the great fills I got on my market order.
The next day I look at my statement and they made an adjustment to it for the previous day and adjusted my fills to 24 ¼ so they took a half point off of each one of my contracts that I sold.
I guess they have some time period which they can come back and adjust trades.
This is really annoying when this happens but fortunately it does not happen that often and usually I am shooting for a 6 or 8 point profit so half a point does not make or break me.
I guess the guys in the pits realized that they accidentally gave me a good file then figured out a way to move some trades around and take a half point from my trades, I guess that’s the advantage of working at the exchange you get to be on the receiving end of those adjusted trades not on my end of them.
