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marketmonkey

Limit order order flow question

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Here is one, I have been trading for some time and have never run across this except one other time. Perhaps this is common but in my experience it is not, when orders are hit they follow the order precedence rules, I write up the trade on my trade sheet, journal the trade and move on.

Say in a very slow moving CL market (I have moved to the Philippines and trade the Asian, Europe and early US futures markets). The CL can be very slow during the Asian markets. I got my signal, shorted, put in my profit stops and readied my protective limit. I was at the bottom of the pile when I entered my limit and there were 24 contracts ahead of me, it hit my two contracts at that level immediately then dropped quickly away from the filled price without touching any limits ahead of me or any contracts at the price at all.. Now if I had 24 contracts ahead of me with limit orders of different sizes how does my limit which was last in get hit over sitting limit orders some of which had been there for some time?

In my experience my limits don't get hit until it is "my turn" FIFO or unless others drop out putting my price/time up the list.

To me this acted like a market order which would make sense to me but with a limit order this should not have happened until my turn so to speak. I have had my protective limits not hit more times than not because I enter them late not immediately, why? for me it works, many times my late protective limit gets left behind as the market moves in the direction of my profit stops.

As I said this has happened only twice which makes me think my understanding of the market is correct and I am missing something in these specific instances. Limits are first in first out unless there is some condition attached which may not make that possible. I fear my understanding of order precedence rules may be fouled.

Any input would be helpful

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