Entry orders for ES,YM,NQ: use market or limit orders?...to exit, same question

Discussion in 'Index Futures' started by increasenow, Jan 30, 2008.

  1. Entry orders for ES,YM,NQ: use market or limit orders?...to exit, same question...I've always used market orders for both...now thinking of entering on limit orders to avoid slippage...which can be huge...please offer your thoughts...thanks...
     
  2. All depends on what the market is doing, and what I want.

    I usually use limit to enter, but occasionally miss moves. I often trade for targets so I put a limit order in way ahead of time to exit as well, so that I am near the front of the line.

    When I HAVE to get out, always a market order. And finally, if I am in a rocketing position in my favor, I often use market orders which give me great fills on spikes. A limit order would probably do the same, but I just don't bother if its really spiking.
     
  3. so, you use limit orders say 80-90% of the time to enter?
     
  4. How much slippage? Ie. how many ticks?
     
  5. 90% of the time for entry... Limit, stop, or MIT orders. Remaining 10% of entry orders are market, generally 3 scenarios... (intentional) chasing, fast moving, wide range action, ie pre/post major reports and/or news, or initiation of multiple add swing-like position.

    90% of the time for exit... limit, stop, or MIT orders. Remaining 10% of exit orders are market, generally 2 scenarios... extreme price/time action, fast moving wide range action ie pre/post major reports and/or news.

    Of course, market action dictates on any given day, but these numbers stand the test of time, for me.

    Osorico
     
  6. I"ve seen 2-4 ticks on the YM, 1-2 ticks on the ES and 1-3 ticks on the NQ on entry market orders....the YM sometimes has huge bid/ask spread...NQ, not so much...ES never, just if market moveing quickly
     
  7. do you get filled on the ES?...thanks