yes the LIMIT price is ASK + (x). That is why it is called MARKETABLE LIMIT order. It is between a LMT and a MKT order. But to implement it, you use LMT order. Go to the TWS screenshot order I sent you and you will see it is implemented using a LIMIT order. Yes but STOP LIMIT will only get you filled at that LMT price. The MARKETABLE LMT order will get you filled anywhere from ASK to ASK + x or BID to BID - x. I am getting a worse price because of the delay in order submission using TWS API. When I send an order, it doesn't submit right way, it takes like 1 second to submit and in 1 second time, the price can move a lot specially if the stock is volatile
if you are targeting active stocks, it's never going to work. IB routes everything with their SMART network and will do internal crossing before sending your shit elsewhere, hence the 1sec delay is the least of your problem. 1sec is still quite fast for a retail trading account, below 1sec, you are competing with "High Frequency" bots, and they have their own algos which is 1000x faster than your MKT LIMIT
Yes that is true, but when I submit the order in TWS, the delay is milliseconds that is is not noticeable. But using a 3rd party platform through the API, I can see the delay its like the order is frozen before being submitted. Sometimes, I don't get this delay but a lot of times its like the order is stuck before being submitted. I talked to an IB representative. He mentioned it could be my network(Computer,internet speed). I just tried using the Gateway Latest version instead of TWS and the delay is very minimum