anyone getting BURNT with YM market orders?

Discussion in 'Index Futures' started by increasenow, Oct 22, 2008.

  1. anyone getting BURNT with YM market orders?...I use to always fire off YM market orders...looks risky now with thin DOM...wide bid/ask spread...anyone?
  2. If you are entering a trade expecting to extract a smattering of ticks, you're probably right... market order with wide(r) spreads and high volatility is generally not a good entry technique.

    otoh, if you are entering a trade expecting to extract many fistfuls of ticks, a few ticks on either side isn't worth the risk of "missing" the trade.

  3. I only use market orders in an emergency... which hasn't happened yet this year. I enter a smidge early, use limit orders and don't cry if I miss a runaway trade.
  4. moarla


    if you enter on the high for short and on the low for long, you dont have slippage with market orders :))) the question is, how to enter on highs and lows...(like i do)
    If you trade like many do, you need limit orders
    :D :D
  5. I'm not that good yet. I will stick to limit orders. :cool:
  6. If you think that YM has wide spreads you should try trading some of the second-tier currency futures lately. Aussie and Kiwi have been showing 12+ tick spreads at times. Try using a market order in that and you will feel pain. YM is tight comparatively....

    You have to be careful in any market, especially these days. Like others said, use limit orders or don't trade when it is that wide. Use market orders in an emergency but limit orders as a norm and you will improve your slippage almost immediately.
  7. thanks guys...really appreciate the info...I traded solely the NQ & ES yesterday and today via market orders only...really no slippage that I could notice...HONESTLY, I've never, ever used a limit order trading futures...hmmm...only market orders...
  8. lindq


    Much depends on your confidence in your system and the strength of your signal.

    Personally, a market order is always my choice as nothing is more frustrating than getting left behind on a profitable trade. If I have to give up a couple dollars on the front end, then so be it. A limit order is no guarantee of protability if it leaves you out of the trade.
  9. I got killed to today when entering a market order at....

    Sorry do your own research! Just messin with you in! Hey, what happened to the prop thing? Tell us what you can, please!
  10. so how many cars do you get off successfully with your strategy - or how many do you think can be fired at the market without slippage?

    #10     Oct 22, 2008