2 Answers

can someone tell me what this means…and wht i need to do next..?

okay so i found this simulation site for trading in futures..i placed two orders..and on the site it says

Order Added

Order has been added and is waiting to be filled.

Pending Futures Orders
CommodityQtyLong/ShortOrder TypeSpecificsDate Placed
GCJ11LMN/A03/13/2011 10:30:59 AM
GCH11LL500003/12/2011 09:16:56 PM

what does it mean when it says order has been placed and is waiting to be filled and wht do i need to do next??

thankss

justin on Sep 06, 2011

Too easy. The only way to learn is to do. Just don’t bet the farm or you won’t stay in the game long enough to learn.

On any exchange, the first step is to create an order like you’ve done. The second part is on behalf of the floor traders. They have to find a buyer/seller that is willing to meet that price that you have stipulated. If they can’t find one, then you must wait until they do. If they don’t, then you might have to adjust. You actually do not want your orders to fill right away because then usually someone is cheating you on the spread (contrast of bid and ask prices).

Another instance is where you create an order during after hours or on the weekend and the order will fill once trading opens again.
Common Sense on Sep 06, 2011

NEVER trade anything unless you know exactly what you’re doing. You are heading for disaster.