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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Chip McVickar who wrote (10510)12/17/1998 12:12:00 PM
From: Patrick Slevin  Read Replies (1) of 44573
 
You know, I've never done that. But a Market On Open order will get filled at different prices. No one knows what the Open is because it's not "guided" by a specialist, it's pure open outcry. Your trader may be buying from Merrill at 1178 and mine might be buying from J. Aron at 1177.50

< would a limit order or market order be better..?>

It's one or the other, either a MOO or a Limit. I believe if I want in or out I just hit it. I can't say which would be better. A limit might not get filled and a MOO might get you too high a price if it retreats right away. Most days I just wait for the dust to settle. I don't think off floor traders would normally hit Opens, unless they are running off a system that restricts one to buying the Open and selling the Close or something like that.
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