ES, CL "market" or "limit" orders to enter position?

Discussion in 'Trading' started by increasenow, Apr 8, 2008.

  1. for the ES and you use market or limit orders to enter a position?....I have only used market orders to date...exploring using limit orders...what % you use limit orders to enter and why do you use limit most or all of the time to enter trades?
  2. in my world (energy trading) we use the phrase "don't be a dick for a tick". If you want to get in or out, don't lose opportunity or money jockeying for a tick or two. Stick with market orders in a liquid market like those.
  3. thanks...understood...are you a CL daytrader?? bullish or bearish on CL?...see it hit 110.00 and then TANK to $85?
  4. I'm pretty sure you've asked this question before on a previous thread but I'll play along anyway. I'm bored.

    Do you use market or limit orders to enter a position? Yes

    I use market orders in a fast market or when I do not have a specific price in mind to buy/sell at when I am first entering a position. This usually occurs because I am waiting for the market to give me an indication and once I get it I get it in at the ask price for a long position or sell at the bid price for a short. Limit orders are also useful for entering positions as you can plan your orders ahead of time and sit back and wait for the market to come to you. I find that I usually get worse fills when I am chasing entries with a market order.

    I use limit orders mostly when I am exiting a position (either a predetermined profit target or stop limit order). I occasionally use a market order to get out of a position depending on market conditions.

    So, my answer is it all depends. Both are valid for different reasons. As far as percentages go probably 70% limit and 30% market.
  5. thanks BL...I do prefer market orders...just wanted to know what others use and if limit is better perhaps
  6. I trade natgas futures for an energy co. I do watch crude as we are sometimes lead by crude complex.

    Crude is being supported by the products at the moment, specifically heating oil as that is the closest futures contract to diesel, which is where the shortage is in the complex. As soon as you see Heating oil AND gasoline falling hard, crude is probably going to get crushed for a larger correction but you must keep an eye on the products.
  7. Can I use your quote ? :)
  8. mit orders are the best
  9. When I was on the floor, we called those "Mutilate if touched"
  10. metaphors don't make you money..and the market has evolved ..the pits are's all electronic..if you are convicted in the trade then getting in is better than being a dick and missing by a tick..there is very little slippage in the electronic globex system.. so lets compare apples to apples ..and lets not steer people in the wrong direction with your poetic the way what pit was it in and when?
    #10     Apr 9, 2008