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Back when I was trading decades ago, 2.5 to be exact, I used the phone to call in trades and wait for a callback on a fill plus slippage. Now that I'm trading again, I'm using a simulated delayed account to hone my skills.
If I put in a market order, I get a fill instantly. If this were a real time trade would it be as quick? In a fast market, I assume slippage would still apply, but in a normal trading market is it really that fast?
I'm trading grains, meats, softs.
Can you help answer these questions from other members on NexusFi?
Depending on your simulation platform the slippage would be very realistic or less realistic but the "fill instantly" is what you'll get for a market order with a live trade. The speed will depends on your location and your broker but in the worst cases it should be below 0.5 seconds.
Hello putncall. Yes, any modern simulated environment will give you near instantaneous fills on market order if there is a market there to hit. The same goes for production trading.
With production trading, the broker shouldn't come into play at all as you likely have DMA (direct market access) so your order doesn't flow through the broker. You're submitting orders direct to the exchange using order routing credentials supplied by the broker.
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