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Non-Tech : MB TRADING
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To: bobsrb who wrote (1208)9/11/1998 12:26:00 AM
From: Nazbuster  Read Replies (2) of 7382
 
Bob,

I don't use MBT, DATEK or CyberBroker, but I had a similar experience a week ago with Dreyfus. I have concluded that during very fast moving markets, I am better off being nimble on the keyboard and placing a limit order well below what I see as the inside market than placing a market order. My market order on AMZN took 9 minutes and cost me 4 1/2 points! (Dreyfus credited me back 1 1/4 when I complained.)

I suspect that market orders take discretion on the part of the MMs, whereas limit orders just sit in the queue and get plucked off as the price whizzes bye... I've tested this once more and found a market buy took much longer to execute than a limit order.

Anyone else care to confirm?
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