How your EA handles not executed limited orders ? - page 2

[fxsaber]

ramesoj #:

Besides trying to improve the speed,as you mentioned, I am going to create a piece of code that will delete a pending order and issue a market order in case the pending order price was reached, but the pending order was not executed.

I know the price will be worse with the market order, but for my strategy it is much worse to skip the order than to get a worse price.

Now you can measure how much worse the price execution is.

[Ryan L Johnson]

In my experience, order type priority depends on the market traded and the broker-dealer used. In the past, I traded with several forex broker-dealers that prioritized market orders ahead of pending orders. The bottom line for me is carefully reading the trade execution terms of the broker-dealer's trading agreement.

An exception to this is trading on a centralized exchange, where everyone trading on the same exchange has the same order type priority terms.