BUYING & SELLING

[Bullet]

I am assuming when I put a sell order in on Access that all sell orders or buy orders get filled in order of first in first served? Is this correct? If this is the case is there anyway you can see where you are in queue? Thanks in anticipation!

[TheBossMan]

Not quite. There is the case of 'marriage' - when a broker gets at market order for a buy/sell, they just marry them together and jump the queue, so to say.

there are other scenarios as well - but, if you want to know where you're in the queue, you can see it in the depth information (or) just call the broker.

[whiteheron]

Except for the "marriage" case mentioned by the boss, where the same broker matches buy and sell orders within his own clients ,all orders at a given price simply line up in order of being placed in the market
To improve your place in the queue you must increase a buy order or reduce a sell order and start at the end of the queue at the increased / reduced price You may of course be the first in the queue at the new price
Hope this is clear
At the start of trade each day there can be a matching off of a number of buy and sell orders where there have been buy orders placed at prices above sell orders or sell orders placed at prices below buy orders , this is noticable especially on the australian market
Iam not sure exactly the rules applied in such cases , i think the match offs are done by computer