Limit at Offer/Ask

M

MoneyMatthew

I'm getting killed on ECN access fees since I have only been using Market Orders. I trade the SPY mainly btw...

If I were to use a Limit Order at the Ask would I be adding or taking liquidity?. I just need to figure out a way to get in and out quickly without market orders.

Thanks,
Matt
 
Quote from MoneyMatthew:

I'm getting killed on ECN access fees since I have only been using Market Orders. I trade the SPY mainly btw...

If I were to use a Limit Order at the Ask would I be adding or taking liquidity?. I just need to figure out a way to get in and out quickly without market orders.

Thanks,
Matt
More...

Between you and the party you trade with, if you're the first one at that price, you're adding liquidity. If the bid or offer is there first than you enter your order after, you're taking liquidity.
 
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