I have an all in deal in which I don't have to worry about routing fees, which is good since I mostly remove liquidity. I need to act quickly when I get a trading signal. What preset routing path would be best? Would it make a difference if the stock were NYSE, AMEX or NASDAQ?
Just use some order like RASH SCAN or ARCA Routed... they hit any NMS quote and they're pretty fast at it...
That's what I was thinking too for limit and market orders. ARCA doesn't take stop orders though. What do you think about placing these with the exchanges if listed versus holding them on the server until they trigger as market orders versus placing with a market maker?
The good thing about placing them at the exchange is that if your server blows up, your stop order is still live. The bad thing (if you're a bit paranoic) is that the exchange (specialist, MM, DMM, etc) could use the info on your stop orders to shake you out of position... but that might be more of a consipiracy theory than an actual risk...