How hard is it to get in and out of a real trade vs paper? Do you just get stuck and never get filled while the price passes you buy? Just trying to understand this part more, what are the the most common mistakes? Do limit orders cause you to actually get pushed back once they turn to market orders? Is it simply a issue of enough people being on the other side willing to pay the price? Does Time in Sales and DOM really help you, are these the most important things to look at while trading? What brokers are the ones to stay away from because of this? Thanks is advance for any help!
No All of them. Limit and market orders are mutually exclusive. Non-sequitur. Yes. No. Irrelevant, since it has nothing to do with brokers. No problem!
So, a order wether market or limit placed with a time stamp are the same? Care to disclose a little more info on "all of them"? And "has nothing to do with brokers"? What in your opinion is more important than DOM and TinS? Volume profile/Market profile?
That is not what you asked. You asked about limit orders turning into market orders. I don't understand how that could happen, since they are two different things. All mistakes are common. We all make them, all the time, until we stop making them. Read through the journals some more. It has to do with your data-feed, latency etc. The broker is just...brokering your trade. It all comes down to your speed of execution. Speak with your specific broker about that issue if you have one. You asked if DOM and Time/Sales helped me. I answered no, for ME. Others may have different answers.
Just the basic mechanics...what's a bid/offer/market order/ llimit order. What happens when you place a limit order at X price and it trades through. What happens when you market order into heavy bids/offers, what happens when you market into thin bids/offers with gaps. Stuff like that.
Let's see, I think I may know some of that. I think I have the bid/ offer and the different order types down. Still haven't figured out the trailing stop yet or OCO, but I will. I haven't had a day/night where I can sit at home during a whole trading session but I plan too soon. Still playing on this phone app right now. I have just been reading and working on getting my platform set the way I like it. I've had 3 main scenarios so far. 1) place a order let it run till profitable and close with a profit. (About to stop that cause it's worthless really, too easy). 2) Place a order, then stop, then limit for profit target. (I think they've all been stopped out.) 3) place a order, set limit order for profit.(they usually get hit). I've set my stops at -.05 to -.10. They seem to get hit almost every time. It kind of sucks that someonce can buy your stop order when the bid ask is so far away. I assume if it was at -.20 it would still probably get hit. When you say "trades through", you mean I dont get a fill and it goes higher or lower than my limit. Correct? Would I not just adjust the price and try to get filled? This would be terrible if I was in a losing trade, I know. I need advice of what to do when that happens. I think I know the answer to the heave bid question. A market order during heavy bids could get you filled at a price far away from what you want and thus suck! Lol Not sure about what happens if it's thinly traded. Great question!
Do yourself a favor and start trading April MGC RIGHT NOW, live. Do it for a week with your system. Your bumps and bruises will be minimal, but you'll learn a LOT. You may even make money. But you'll get to see how your executions are performing through your data-feed/broker. If they work there, they will work everywhere. Trust me on that.