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Why does the system allow a purchase to be executed higher than your limit price? durf Sep 02, 10:51

Because otherwise there would be no price movement. It hit your limit your price, your trade ticked it up. {nm} Antibody Sep 02, 10:54

that is why it is a LIMIT order . . . it should not have executed the order at all if the price needed to go above the LIMIT {nm} durf Sep 02, 10:54

That's the way the Virtual Specialist works. It's harder to code and more taxing on the system to process that way. Antibody Sep 02, 11:15

and would all that work and server slowdon (god forbid) be worth the benefit {nm} tealfan Sep 02, 12:45

*slowdown {nm} tealfan Sep 02, 13:04

1% trade fee {nm} tatoufan Sep 02, 10:59

it was executed ABOVE the LIMIT price plus the 1% commission {nm} durf Sep 02, 11:02

its just like real life, it executes at the next available price. Oleg Max Sep 02, 11:06

in real life, the order would not go through because on a price was above the LIMIT (on a purchase)--definition of LIMIT {nm} durf Sep 02, 11:07

not if its 'stop limit', once it hits limit it automatically becomes market order = filled at the next available price. {nm} Oleg Max Sep 02, 11:09

If you put a limit order to buy Telsa Motors at 100/share and the next available seller was at $195, the trade will just not execute. {nm} durf Sep 02, 11:09

like i said, there is a difference between 'limit' and 'stop limit', with 'stop limit' you will buy TSLA @ 195 in your scenario {nm} Oleg Max Sep 02, 11:32

So you perhaps paid a tinge more than you hoped. Don't let it ruin your day. {nm} RollingThunder Sep 02, 11:10

agreed; but the trading program needs to be fixed. {nm} durf Sep 02, 11:11

Same principle applies to non-limit orders on HSX. The last price is not guaranteed to be the actual price at the time of order execution. {nm} Antibody Sep 02, 11:24

You're clouding the issue . . . of coures non-limit prices will not be the last price; depends on how much buying or selling is happening... durf Sep 02, 11:31

this was a LIMIT order, emphasis on LIMIT {nm} durf Sep 02, 11:31

Finally, another voice of reason! DiNar0 Sep 02, 11:48

In real life, there's a real person that takes your trade. HSX uses the Virtual Specialist to simulate the other party. {nm} Antibody Sep 02, 11:55

not any longer. its all machines and much as i don't come here to debate it wouldn't execute above the limit. Furthermore>>>>> tradermark Sep 02, 12:24

But those machines represent real people/companies. HSX accepts all trades without matching them to another trader. {nm} Antibody Sep 02, 13:35

I totally understand theres no 'other side' except the house in here. Thats why i'll never utter a word about execution. {nm} tradermark Sep 02, 15:24

I brought this up before here... bbb101 Sep 02, 12:48

QUASI-LIMIT-ORDERS. {nm} Captain Obvious Sep 02, 14:06

well they don't activate until the limit is reached so they may not be the limit order you are familar with but they are limit orders. {nm} tradermark Sep 02, 15:26