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Buying the Ask; Selling the Bid - better than placing Market orders?
If you talk about TF, 6E and CL, then I do not think that there are any designated market makers for futures contracts. NYSE has market makers for stocks, CME has market makers for options, whenever it is necessary to add liquidity to the market, but futures?
So you would subject yourself to the greed of an algorithm, but really, who is more greedy, the algorithm or you?
Interesting point FT. Be it human or algorithm though, the existence of slippage means there's something there that manipulates the spread to favor the house.
As far as who's greedier? I dunno - but the market maker (or algorithm programmer) has a distinct advantage over the little guy. A well timed, well placed limit order levels the playing field. One can only hope...
I've been recently scalping the EUR/USD with MB Trading, entering with a stop limit order 1 tick beyond the calculated close of a range bar. I get a guaranteed entry price, and I get a rebate on every entry.
It is funny that traders always explain adverse results with a conspiracy. Either it is the evil market or the traders of the "house", which are mighty predators just waiting for money of the honest little guy. Did it come to your mind that there is no "house", just other traders which use algorithms that feed on the predictable behavior of the little guy?
If you think that other sophisticated traders have an advantage over you, you should not participate in the game, except for entertainment. The opera isn't free either.