My trades Sell Stop order today was not filled that was placed at 9:39.58 AM at price 21877.25 from entry price 21947.25. I do understand news had occurred but this seems to have been an issue on the platforms end. Had loss of $345 at 10AM when news came out, which should only have been $110 per Sell Stop Order at
21877.25, that was then switched to Sell Limit Order (which i did not make this action and never got filled).
All that was said by support was- “ When a stop order is unable to fill , the exchange turns it into a stop limit order after 15 handles in the MNQ. That order was unable and cancelled by the exchange around 3 minutes later.”. But this doesn’t explain anything as my Sell Stops always stay in place for longer then “15 handles” many of times.
Can someone explain what they mean or was this an issue on Tradeovates end? My propfirm exited me out of my trade just fine, so i would think a reputable broker like Tradeovate would have taken me out of my trade no problem???
When there is important news, the Market Makers are allowed to remove orders from the book 1 minute before the release. This is why your order never filled.
Bottom line. Never be in a trade during important news releases.
Shantron misunderstood my response… I can understand why, so I would like to clarify it for others. Market Makers are allowed to remove their own standing orders from the book. They are NOT allowed to remove orders from other traders from the book.
But this is completely off topic and has nothing to do with what OP asked. You know this, but you did assume that market makers can remove orders. You are now backtracking on this after our discussion in discord.
You love to be right and everyone else has to be wrong. That is fine, but you are discouraging me from contributing here on this community which will be loss for everyone.
Ask yourself why my immediate example on the discord confused you when I gave you a link to MM removing their own orders from the book. That should tell you what you need to know.