Execution

A trading strategy helps you achieve your trading goals. But to carry out your strategy, you need the right tools. GODO offers simple and complex orders, which can be customised to meet your trading needs. Knowing how each order executes is the key to an effective
strategy.

MARKET ORDERS
A Market Order lets you enter the market immediately. You control at what price the order executes, and if you are comfortable with “partial fills,” through Order Type and Time-In-Force settings:

• At Market – when your strategy is more sensitive to full order execution than price at market provides execution certainty because you aren’t limiting the order to specific prices: You simply want to enter the market at the best available price(s).

ENTRY ORDERS
When the current market price isn’t suitable for your strategy, an Entry Order lets you enter the market at some time in the future. You specify a price above or below the current market price. If the market price reaches your entry price, your order attempts to execute as an At Market Order.

• Limit Entry Order – you buy below or sell above the current market price
• Stop Entry Order – you buy above or sell below the current market price

Stop Entry Orders guarantee execution but do not guarantee the specified price. Limit Entry Orders only execute at the entry price or better. If the best available price at the time of execution is not at the entry price or better, the order resets and waits for execution.

Stop Entry Orders guarantee execution but do not guarantee the specified price. Limit Entry Orders only execute at the entry price or better. If the best available price at the time of execution is not at the entry price or better, the order resets and waits for execution.

STOP AND LIMIT ORDERS
Your strategy may require you to cut losses or take profits at a certain point. Stop and Limit orders execute similarly to Stop and Limit entry orders (see above), but get you out of the market, rather than in. Limit Orders guarantee the specified price (or better), while Stop Orders guarantee execution, but not a particular price.

TIME-IN-FORCE
Depending on your order type, each order offers time frame options in which this order executes:

• Day – activates your Entry Order for the current trading day only
  Day Entry Orders cancel automatically at 5 pm ET (New York).
• GTC (Good ‘Til Canceled) – ensures that your entire order is executed
  GTC orders may be broken up into partial orders if sufficient liquidity isn’t available to fill the entire order at the best available price.
• IOC (Immediate or Cancel) – fills as much of your order as possible at the best available price
  If the entire order cannot be filled at the best available price, the remainder cancels.
• FOK (Fill or Kill) – when you want your entire order filled at the best available price
  If the entire order cannot be filled at the best available price, the entire order cancels (no partial orders).

TIMEFRAME: COMPLETION OF TRANSACTION
GODO endeavours to process orders within milliseconds; however, there is no exact time frame for order processing.

STAGES: COMPLETION OF TRANSACTION
When a client makes an order, GODO first verifies the account for sufficient margin. The order is then matched against quotes from liquidity providers. A hedge order is then sent to the liquidity provider for execution. Finally, the client’s order is filled and open/closed positions are updated.

EXCEPTIONS: COMPLETION OF TRANSACTION
There may be exceptions to the typical transaction, such as delays due to abnormal order processing or malfunctions with internal or external processes. In such cases, GODO notifies clients as quickly as possible, depending on the complexity of the issue.
GODO’s objective is to notify customers about these types of exceptions as quickly as possible, but the time for notification sometimes depends on the complexity of the issue under review.

• Trading station: if abnormal market order processing occurs, the order will be highlighted in red, and the “status” column will indicate “executed” or “processing,” in the “orders” window. In these instances, the order is in the process of being executed, but is pending until GODO receives confirmation from the liquidity provider that the quoted prices are still available. During periods of heavy trading volume, it is possible that a queue of orders will form. That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders.
• Metatrader 4 (“MT4”): if abnormal market order processing occurs, the order window would remain open on the trading platform and reflect processing error. In these instances, the order is in the process of being executed, but is pending until GODO receives confirmation from the liquidity provider that the quoted prices are still available. During periods of heavy trading volume, it is possible that a queue of orders will form. That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders.

Filing a Trading Inquiry

At GoDo, we strive to provide our customers products and services that are resourceful to meet their needs. If we fail to meet your expectations, or you have a specific inquiry or concern that requires a formal review, you are encouraged to file a trade inquiry.
Before you do so, please review the top questions and answers on trade execution.

Top 3 Inquiries on Trade Execution

What is slippage and why does it happen?

Slippage is a factor when trading any financial market.

Slippage occurs when the market gaps over prices or when available liquidity at a given price has been exhausted. Market gaps normally occur during fast moving markets when a price can jump several pips without trading at prices in between.
Similarly, each price has an available liquidity. For instance, if the price is 50 and there is 1 million available at 50, then a 3 million order will get slipped, since 3 million is more than the 1 million available at the price of 50.
Slippage can be negative or positive.

Why does my trade execution not match what I’m seeing on the chart?

The times on your GoDo statement are in UTC+4. You can change the time zone on your charts to UTC+4 by clicking on System, Options, and General Trading. Edit the “Time Zone” drop down to “UTC+4” and click on Apply.

MT4 charts default to show the “bid” which is the sell price. To see the buy price, you can click on Chart select properties and Click common tab where can see bx to select “Show ask line”. Please note, if you are closing a sell position you will need to reference the ask price.

The prices on the charts display the best bid and best offer prices (which include GoDo markup) from multiple liquidity providers (which include global banks, financial institutions, prime brokers, and other market makers) that compete to provide GoDo with bid and ask prices. In the event that liquidity at the best price available is exhausted, an order will be filled at the next best available price which will not display on the charts. This is relatively rare and is more likely to occur during illiquid market conditions like news announcements and when trading exotic currency pairs.

Why did my trade open/close?

If the above items do not address your inquiry or you would still like an individual review of your account, we encourage you to send us email at cs@www.godoabbado.com. Our team will review the specific elements associated with your query and provide you with a prompt response on the requested elements. GoDo takes these matters seriously to improve our products and services and alleviate any concerns expressed.
The Trade Services Team will contact you as soon as possible with a resolution to the inquiry. In the meantime, please manage the trade as you see fit.
To expedite the processing of your inquiry, please provide an accurate amount disputed. Only use numbers, periods, or commas. Using characters other than those may result in an increased processing time of your request.
Please send your inquiry by emailing us at cs@www.godoabbado.com

With GoDo Price Improvement technology, all orders can receive positive slippage, or price improvements. This means you can potentially make more money if the market gaps or spikes favourably through your limit price. This is especially true in situations where the market moves fast (during weekend gaps or around news events).

By receiving prices from multiple liquidity providers, GoDo is able to provide clients with competitive prices and low spreads.

GoDo takes the required steps to ensure that the execution of our quoted prices provide clients with the best possible result. On some occasions, due to fast moving markets, executions may be at a price which is no longer the clients requested price. This is known as slippage. During such times, your order type, quantity, and specific order instruction play a key part on the execution received.

EXAMPLES OF SPECIFIC ORDER INSTRUCTIONS INCLUDE:

• Good ‘Til Cancelled (“GTC”) Orders: Your entire order will be filled at the next available price(s) at the time it is received.
• Immediate or Cancel (“IOC”) Orders: All or part of your order will be filled at the next available price with the remaining amount cancelled should liquidity not exist to fill your order immediately.
• Fill or Kill (“FOK”) Orders: The order must be filled in its entirety or not at all.

In times where there may be a potential possibility of slippage, a trader may implement the Fill or Kill option, which ensures that all tickets are filled at the specific price and if not possible, then no orders will be opened.