Madrid, Spain
Experience: Beginner
Platform: NinjaTrader + Dendric
Broker: IB/Kinetick
Trading: Futures
Posts: 17 since May 2014
Thanks Given: 5
Thanks Received: 9
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I am not an expert but let us say you are trading YM and have a position open through several days, for example you set a profit target of $1,000 and a stoploss of $500. In this case a slippage of several ticks, not many if any as YM is very liquid, $5 per tick, is small compared with the potential for gain or loss. Here market orders would be appropriate to guarantee a fill.
If you are a day trader and every tick counts, you will probably use limit orders for getting a specific price. But I wonder if automated day trading systems are possible.
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