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Correction:
So we mostly use this MIT order technique to avoid having both a stop order and a LIMIT ORDER active at the same time.
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At 03:00 PM 12/5/2008, Bob Fulks wrote:
>I get very little slippage. This is on ES which is very liquid. I would be wary of doing this on symbols that trade infrequently.
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>As I said in the original post, if you have a limit order and a stop order active at the same time, in automatic trading TradeStation sends only one of the other based upon proximity to the price.
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>So we mostly use this MIT order technique to avoid having both a stop order and market order active at the same time.
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>Bob Fulks
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>At 01:19 PM 12/5/2008, Ray Gurke wrote:
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>>I'm curious as to what the fills have been like using the pseudo MIT order compared to a limit order. I would imagine you may get as much positive slippage as negative. Limit orders are great ...except when they are the exact high/low of the bar and your order is too far down in the queue to get filled ;-) So.. I'm wondering if you prefer the MIT approach over the limit order for overall better fill prices as well as mitigating the problem of how/where the orders are stored?
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