Today i got screwed on a bad tick on nyse and broker said tough crap

Even Cramer says don't use market orders. If its small say 100 shares or 1 future contract, then a market order is probably not going to kill you, but if you are doing any kind of size, why do it. You basically can make a limit order a market order, by setting the limit to the same price as the market is currently trading. If you really think, the stock is going to shoot up and can handle a 1 cent to 5 cent problem, set the limit order above the market price.

For example, lets assume GS is trading at $ 157.39, you want to get long since you think its going to explode upward in price, you could set the limit for 157.40, on an active stock or future, getting filled should not be a problem.

Quote from RiceRocket:

Since you're such a dumbfuck using market orders, you learned from the school of hard knocks. Please, stop using market orders. Live and learn. Don't be a tool.
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Oracle is exactly right. The market makers have to fill you if you post a limit say 5 cents above the offer, and they'll usually fill you at the actual offer. Fluffing market orders are the oldest scam in the book that are actually allowed by the exchange rules.
 
Quote from jnorty:

sorry guys. i'd rather not say who the broker is but its a big firm that deals with day traders mostly.The stock was gs yesterday. They told me that they are not allowed to contest a trade unless it falls within the 5% band. I argued and they wouldn't budge saying they could file a grievance but they would not break the trade.I've probably spent $2 mil in commissions the last 4 years.Never had a problem before. Next time i'll throw limits under the mkt
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3 words: "marketeable limit order"

'nuff said
 
2 million in commissions?? And your fighting over 1000 dollars from a 3 lot trade. The math does not add up here.

Trust me if you made them 2 million in commission they would comp you that 1000 bucks just to keep you happy.
 
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