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What types of orders do you use?
Started: by Big Mike Views / Replies:2,719 / 26
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What types of orders do you use?

  #21 (permalink)
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sands View Post
They're all there for a reason it depends on how fast the market is moving and how agressively I want to get into the market. If I can live with some slippage market orders are fine, if not then limit orders are precise but you don't always get filled. Good and bad as with life :-)

Thanks,

Sand

I always thought of it that someway it seems that nothing is 'free' and something always comes with some cost, somewhere. Enter with lmt orders is better price, but sometimes left in the dust, and over a large numbers of trades, it can be that it won't matter much how you enter. Likewise widen stop = greater cost, but less losers/some losers become 'winners' etc etc.

In the end it is all some optimalization, and you will never have had the best parameters. Personally it seems to me that 'optimal' is something you can chase but will never reach; it is more like there is a good 'area' where one can do business or close out business. ( all imho offcourse).

One of my worst enemies are my own false assumptions

Last edited by Zwaen; March 27th, 2014 at 01:57 PM.
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  #22 (permalink)
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I'd like a way to place a limit order on the dom simultaneously at price 1 and price 2 (both next to each other) similar to an oco ensuring the cancellation of the other order so I can only get slipped a maximum of just one tick but giving a little more probability of catching price when it's moving faster than I can grab it. I'm not sure if this is a volatility order but it sounds like it.

In fast moving markets I usually buy bid going long or sell ask going short trying to catch price as it gyrates back a tick giving me a better price.


Last edited by Itchymoku; March 27th, 2014 at 02:41 PM.
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  #23 (permalink)
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I am not a stock trader, therefore I would appreciate if somebody explained to me the differences between the following order types.

It is my understanding that all these order types will allow to collect rebates, as they will either hide or be rejected if they would cross with a book order on the other side.


NYSE-ARCA: Post No Preference Blind (PNPB)

"The PNPB order is an undisplayed limit order priced at or through the Protected Best Bid and Offer (PBBO), with a tradable price set at the contra side of the PBBO."

and further

"Marketable contra orders will execute first against PNP B order, then the rest of the book."


BATS: BATS Only Post Only Order

Order types: http://www.batstrading.com/resources/features/bats_exchange_definitions.pdf
Thisexplains sliding: https://cdn.batstrading.com/resources/features/bats_exchange_pricesliding.pdf


Direct Edge: Hide Not Slide (EDGX)

Order types: https://www.directedge.com/Portals/0/01Trading/Trading%20Products/Order%20Types/Order%20Type%20Guide.pdf

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  #24 (permalink)
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Fat Tails View Post
I am not a stock trader, therefore I would appreciate if somebody explained to me the differences between the following order types.

Direct Edge: Hide Not Slide (EDGX)

Order types: https://www.directedge.com/Portals/0/01Trading/Trading%20Products/Order%20Types/Order%20Type%20Guide.pdf

This is the one (or one of the ones) that HFT use to queue jump.
How"Hide Not Slide" Orders Work - WSJ.com

They are all in Haim Bodek's book
The Problem of HFT - Collected Writings on High Frequency Trading & Stock Market Structure Reform.

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  #25 (permalink)
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Thank you I have read that WallStreet article some time ago, so I know the basics.

I do not think I will read Bodek's book, which looks sort of boring.

I just asked, whether the exchanges have implemented that concept of hide not slide in different ways.

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  #26 (permalink)
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Relative order

Hello traders,

Can anyone explain me what is Relative order (or Pegged to Primary)? How often do you use it? And what is the main reason to use it?

Thanks for advice

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  #27 (permalink)
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micron View Post
Hello traders,

Can anyone explain me what is Relative order (or Pegged to Primary)? How often do you use it? And what is the main reason to use it?

Thanks for advice

This is an equity type order tied to the National Best Bid Offer (NBBO) when you try be be aggressive while attaching his order to the best bid and offer. For most, limit orders would work best, IMHO.

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