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There's also a non-advanced scenario in which market orders are useful:
Reversing a mistake ;-)
At 09:15 19/03/02 -0600, Ivan Figueredo wrote:
>99% of all orders of a professional trader should be LMT (versus MKT.) There
>are reasons to use MKT orders, but all the ones that come to mind are in
>"advanced" strategies.
>
>Ivan
>----- Original Message -----
>From: "Ian McVicar" <icm63@xxxxxxxxxxx>
>To: "OmegaList" <omega-list@xxxxxxxxxx>; "QCharts" <qcharts@xxxxxxxxxxxxxxx>
>Sent: Monday, March 18, 2002 11:48 PM
>Subject: Interactive Brokers Stock MKT or LMT orders ????
>
>
> > Sorry if topic is off user group subject matter.
> >
> > But...
> >
> > I am just about commence trading stocks on NYSE and NAS with IB. There
> > execution is 2 sec or so.
> >
> > If you are an equity trader what order type do you advise with IB, MKT or
>LMT,
> > any advice would be great ?
> >
> > Thx in advance.
> >
> > Ian
> >
> >
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