If you’ve ever submitted a market order don’t worry about what’s in the vaccine.
You can always submit a limit order which crosses the spread, combining the benefit of immediacy for all reasonable cases with the protection of a price limit in case of an illiquid market or price jump. A market buy order is a limit order with a price limit of infinity.
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There’s no trade so good that an unfavourable fill can’t make it bad.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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LMT Buy Order
@Ask ≠ MKT Buy Order. For the latter you'll get a fill,but maybe not so for the former. However, I agree with you. MKT orders cause unnecessary risks. But if it's important to get an immediate fill, MKT Protect orders (check spread before) might be the best choice.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Is this really a big deal if you're trading sufficiently liquid markets and limiting daily trade size? I mean I understand with illiquid positions, but I don't understand how something like: Sell AAPL US 1mm shrs, mkt vwap otd Could ever push through order book...
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Not really a big deal if you’re sending small orders in deep markets. But why take the risk of eg accidentally trading during a period when the spread is 50x wide due to news? Just stick a limit price on everything and forget about it.
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