Market Orders: Cutting Corners Is Costing Traders Big

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Market orders can be costly! This video unveils three strategies to slash your trading fees when dealing in US Stocks and Options on Interactive Brokers. The video goes over how to execute a limit order as fast as possible, without taking liquidity from the market. My goal with this is to help investors understand how to get around using market orders, in order to improve their trading and knowledge of the markets.

00:00 Market Order Considerations
02:52 Using market orders is lazy!
03:45 Trade Fee Comparison
05:50 Balance between speed and price
7:40 Market conditions should dictate strategy
8:37 META Stock Bid/Ask Spread
9:34 What price to submit Limit Order?
12:24 Things to consider with Market vs Limit order
14:03 How much a market order costs?
15:31 Example of a dangerous market
16:14 What is a Marketable Limit Order?
17:28 Use Post-Only to provide liquidity
20:10 Change the Order Routing!
22:22 Set Order Routing Defaults
23:07 Enable Post-Only as default

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