Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Interactive Brokers / Timberhill -- Ignore unavailable to you. Want to Upgrade?

To: jesso who wrote (811)	12/5/2000 10:39:30 PM
From: Nemer	Read Replies (1) \| Respond to of 9012

On Mkt orders with the ES my normal experience is nearly instant fill .. That said, the ONLY way I've used them is what I feel is an emergency ... the mkt is going against me I want out no more cheese just out of the trap This happens to me about once in fifty trades so I'm not much of a user of mkt orders, but that has been my past performance with them.

To: jesso who wrote (811)	12/6/2000 11:21:15 AM
From: Esteban	Read Replies (1) \| Respond to of 9012

Whether to use market or limit orders trading NQ has been an ongoing subject of debate for me for the 8 months I've been trading NQ nearly everyday. Using Alaron as my broker there has been no difference in the time of fills between market or marketable limit. Both nearly instant. I'd like to try IB for the new lower commissions, but just can't get the software to navigate my ISDN connection reliably. Since NQ has such an amazing price fluctuation over just a few seconds, I often find it difficult to place an appropriate limit order. By the time it's ready to send the limit price no longer reflects the current market. As a result of this constant fluctuation, there is quite a bit to be gained in the area of price improvement, and conversely a lot to be lost when missing the opportunity. I've settled on using market orders of no more than 3 contracts at a time. More than 3 and you often get very bad fills on the last few contracts. This seems to work well about 80% of the time, with fills as expected or better. The other 20% of the time I pay the price. Often the only trade in a possible window of about 10 or 20 that hit the high or low for the period to my disadvantage. It's happens more often than seems statistically possible, and seems to come in waves. The market order solution is one I'm never satisfied with, but for me it's been better than missing some big trades as a result of a missed limit order. I'm thinking that if I ever get IB working well with my system, I may be able to give limit orders a try again on the NQ. It takes at least 15 seconds to navigate through the software to cancel and replace with Alaron. That's a deal breaker.

To: jesso who wrote (811)	12/6/2000 4:41:59 PM
From: booters	Read Replies (1) \| Respond to of 9012

Anyone use market orders to trade ES/NQ I have been trading the NQ's now with IB for 6 or 8 months and only use market orders. ( as you say, don't want to miss the trade ). It has never taken longer than 2 seconds to get a fill, never. I trade off 1 min indicators and use the open of the following bar as my trade point for back testing. If I hit the trade key at 3 seconds before the new bar I will get the open 95% of the time and the rest usually even out. So, slippage for me is not an issue, I do not consider that I get any since my trades line up with what I expect. That was a long answer that may not help with your type trading so let me suggest this, you will get the trade 2 seconds after you hit the button. Maybe that helps boots