So now with limit orders you see many times where the limit order causes you to miss a trade, or to miss exiting at the right trick.

The funny thing is that if you go to a different type of order, you'll be frustrated at different things. You'll now see the times where your target just gets hits, and you exit, but the price kept going, and you'll think about the tick in profit you "lost." Or you'll see your entry get filled, and instead of taking off without it, market collapses with you in it.

The lesson is that in the end the exact type of order won't be a make or break proposition. What you focus and dwell on will be.

Limit and Market orders can be considered our employees or tools. Knowing when to use a certain tool for the job is the key, or for that matter assigning a task to the correct employee to obtain the desired result.

Assessing the current condition of the market just before you execute is paramount in the decision of which tool to use. This takes some level of skill and other tools to acquire this information.

Helpful in this regard I feel are "foot print" type charts, time and sales, DOM... Jigsaw tools work very well for this.

One needs to discern if the limit orders are getting hit to the point that they completely run out and the price moves to the next level/price, or if the limits are being added to and replenished or pulled a lot or if the book is so super deep at this moment in time and the trade at just an average pace that fills are unlikely....

Then very closely related to this of course, because limits only pair with markets, we need to analyze how the market orders are being used as the inherently aggressive action.

Then from these observations we can have a better chance of getting filled... You have now put the odds more in your favor for your fills by this analysis but it's still < 100%.

Ron

You're giving up a tick if you execute MIT. At least a tick. You're also open to greater price risk in thinner markets.

If your limit orders are not getting filled there's something else going on. Monitor your position in queue using the EPIQ column in MD Trader or Market Grid. You'll know your worst case position in queue that way. CME is rolling out MBO as well. MBO will provide actual position in queue at the matching engine. This rollout will be gradual...and there's been some problems already...but this will be a great piece of information for traders to monitor and use in their trading.

Just out of curiosity, what are you trading? Futures, forex or ?

Sent using the NexusFi mobile app

@capitalistdog

Latency on TOS has been mentioned on Futures IO before ....

Is Thinkorswim a good Platform for Futures Trading? TOS lags especially at the market open (first 30 mins). It's not as bad as the lags I experience on OEC trader though. TOS is decent for non-scalping though (more than a few ticks in and out is ok)

Serious Latency Issue On Thinkorswim Am having the same problem on ToS in Colombia. Can confirm the latency problem was as much as 15-30 seconds. Unless it is resolved immediately, TOS (and TDA) will go down the drain.

Do you have access to the DoM on your platform to see what the bid/ask tree looks like?