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>Your scenario doesn't handle the case a market order does, i.e. close my position now. I covered that. If you really, truly, want to sell at any price(and I

• gnaritas 11y ago
  > I covered that. If you really, truly, want to sell at any price(and I can't imagine why, that is terrible trading), then you set your limit to zero. Perhaps to avoid a margin call; your imagination is limited, you seem to forget you also have to buy/sell to exit a position when holding on is not an option. Terrible trading is holding on until you get margin called; when your risk management says get out, you get out. A stop loss isn't a stop loss if it can fail to fill or only get partially filled, a market order is exactly what one desires in a stop loss. > That's all a market order is - a special case of a marketable limit order (immediate or cancel/fill and kill/etc) with the limit set to zero (in the case of a sell) or infinity (in the case of buy). Yes, and thus no need to ban it. > Banning vanilla market orders just forces people to acknowledge that fact, which is a good thing. You can't force people to acknowledge details they don't care to know about. Ban this, ban that; it's all non-sense from people who think they can force the ignorant to learn, you can't. Banning market orders achieves nothing.