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Old 01-27-2007, 12:34 PM
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Re: Discretionary Trading vs Automated Trading

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You rarely sell at the ask or buy at the bid. Certainly nothing you can depend on. This has to be taken into account when programming. Tradestation/Easy Language does not take this into account, you need to program it yourself. Tradestations ProftTarget strategy will fill limit orders on a touch which is not realistic at all.
I disagree here....for one, e-mini futures fills with limit orders (buy@bid,sell@ask) have been filled about 80% of the time. However, my experience with Nasdaq stocks was about the opposite.
For another, one thing to do is to backtest with the Limit orders, and then in real live trading, make them MIT orders.....most platforms are supporting those now.

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