I am trying to get a better understanding of what is involved when using NT in a live account. Please refer me to the right section if it is already explained somewhere.
What I see on my computer screen is a chart and a DOM. Let's say I want to go long on the instrument TF. Price is currently at 1149,0. I want go long. I place a market order by clicking on the DOM. And that's where my question comes in: what happens now? Somehow my market order needs to arrive at the CME. What route does it take?
Second scenario with a probably clearer example of my question. Price is currently at 1149,0. I want to go long. Rather than placing a market order I place a LimitOrder at 1148,7 to go long. What happens at the moment I place this Limit Order? I see it is sitting on my DOM in my computer. But has it actually gone somewhere else? To my broker (AMP Futures) or CQG (Datafeed) or even to the CME as an order to be filled? Or does it continue to sit in my computer until my computer receives the signals from my broker/CME that price has reached 1148,7 at which point it now triggers and sends the buy signal from my computer to my broker and on to the CME?
Is there a graphic somewhere that illustrates what happens when?
sandman
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