How long does it take for a market order to be executed?

[new_trader]

Yeah thats really weird. No matter what, market orders should always go through. Which brings me to my next point: never use market orders.

I will try asking again and this time hopefully Rossini won't once again attempt to derail the thread. You told johnymm that he should "never" use Market orders, perhaps you can give a logical explanation as to why he shouldn't?

 

[gooseman]

You don't get slippage on market orders.

yep you do

 

[new_trader]

yep you do

do you?

 

[gooseman]

erm yep. sell me 1000 futures at market to the broker.

theres 400 on the bid and 600 on the next price down. I take out two prices. slippage.

 

[new_trader]

erm yep. sell me 1000 futures at market to the broker.

theres 400 on the bid and 600 on the next price down. I take out two prices. slippage.

...Do you know what a market order is?

Market Order - A buy or sell order in which the broker is to execute the order at the best price currently available.

Slippage - The difference between estimated and actual transaction costs.

 

[N Rothschild]

so when you go to market with 1000 futures as someone is on the bid with a 1000 contracts, your estimated transaction cost is 0 slippage. and as u excute your order they pull there bid and you hit the next bid, so your actual transaction costs are greater than estimated? but thats not slippage is it...

you are a real **** tard new_trader

 

[new_trader]

If say to my broker, buy 1000 contracts at market, I only know the price I get AFTER the order is filled. That is what a market order is FFS! Fill it at whatever the best price is...get it? Slippage is putting in an order at a SPECIFIED PRICE and getting filled at a worse price.

 

[gooseman]

...Do you know what a market order is?

Market Order - A buy or sell order in which the broker is to execute the order at the best price currently available.

Slippage - The difference between estimated and actual transaction costs.

mate-please don't insult my intelligence.

great cut and paste from investopedia tho.

a market order in a size is at the best price possible for my full size you turd. if the size covers two ticks then that's slippage you moron. if i ever i've heard crap from a retail trader it's you mate.....

 

[N Rothschild]

so by your definition there is no such thing as slippage? ok..

 

[N Rothschild]

mate-please don't insult my intelligence.

great cut and paste from investopedia tho.

a market order in a size is at the best price possible for my full size you turd. if the size covers two ticks then that's slippage you moron. if i ever i've heard crap from a retail trader it's you mate.....

gooseman 1 - 0 pink gaybo

 

[gooseman]

If say to my broker, buy 1000 contracts at market

obviously you mean pay market yeah?

 

[new_trader]

obviously you mean pay market yeah?

I mean 'slippage' in the way this and many other articles explain it. If they insult your intelligence then take it up with them. I'm done here.

http://www.financial-spread-betting.com/Slippage.html

 

[N Rothschild]

your quoting spread betting sites in regards to slippage in the real market? wow..

 

[Rossini]

NT- Bet you spent all day trying to find that ;-)

 

[new_trader]

NT- Bet you spent all day trying to find that ;-)

I spent some time finding an article that explained it exactly the way that I couldn't be bothered

 

[gooseman]

you cleared it up nicely there NT-spreadbetting. I'm talking DMA.

 

[new_trader]

you cleared it up nicely there NT-spreadbetting. I'm talking DMA.

This is getting old, real fast. Did you even read the article? It has nothing to do with spread betting at all. You just looked at the source didn’t you?

Maybe in the superior, trade2win plus 1000 contract arena you define ‘slippage’ on a market order as being the difference in fill price between contracts. But in the inferior, sub 1000 contract arena that I inhabit, you only get ‘bad fills’ on market orders. However, I understand the nature of a market order, and what it means, and what is what, so I know what to expect when I place a market order and what the consequences are and I still don’t refer to it as slippage, you and your trade2win chest-beating buddies might, but I don’t.

This person has the right idea:
http://short-termtrading.blogspot.com/2008/11/slippage.html

Which is an Excerpt from
Trading the US Markets

http://www.amazon.com/Trading-Marke...bs_sr_1?ie=UTF8&s=books&qid=1226151300&sr=8-1

 

[gooseman]

the point is a market order has no price mate. as you said at the best level available. if i'm long in a market that is dumping and i need to cover i'll sell whatever i can wherever i can. (i know that generally i'll get my size within a couple of ticks).

If i say sell 250 @ 99 and it turns out the broker has somehow managed to sell 98's for me he'll be wearing the "slippage".

 

[N Rothschild]

as far as im concerned slippage is how far away from the current bid/ask you get filled due to your size, simple as.

by new traders definition there is no such thing as slippage

 

[gooseman]

it's good you lay it on thick to some posters but fail to respond when you're wrong mate-true class.