Limit, Stop, and Market Orders

I prefer to use stop limits when I am entering a trade. But I'll suggest not using stop limits when exiting a trade. The reason is because there is a possibility that your order might not get filled.

 

Should be filled at the lower price. It's happened to me.
Large quantity orders, HFT may step in, fill your order at your limit price and buy back at lower price.

 

If my limit order for MSFT is $60. Will I always get executed only at $60 without any price improvements ?

 

Without slippage, yes.

 

@CyJackX ..... Unless its an IEX D-PEG order.

@traider see above. That's assuming you don't want to call the sub-penny rubbish the HFTs give you on non-IEX exchanges "price improvements". They like to call it "price improvement" because it sounds good for their PR, I call it bullshit. The HFTs are queue jumping scalpers. The only place you get genuine price improvement is IEX.