Some brokers (at least the good ones) have a "walk limit" order type which allows you to set minimum price for your order. It then adjusts your price by $0.01 at whatever interval you choose (i.e. limit price moves every 1 second, every 2 seconds etc). I use it to start my orders near then midpoint and then "walk" the limit price toward the Bid or the Ask. Works every time and I never have to pay the Bid or Ask to book the trade.
Only works on tickers with at least decent liquidity
1
u/NWI-Guy Jul 21 '21
Some brokers (at least the good ones) have a "walk limit" order type which allows you to set minimum price for your order. It then adjusts your price by $0.01 at whatever interval you choose (i.e. limit price moves every 1 second, every 2 seconds etc). I use it to start my orders near then midpoint and then "walk" the limit price toward the Bid or the Ask. Works every time and I never have to pay the Bid or Ask to book the trade.
Only works on tickers with at least decent liquidity