> It seems like market orders are, and always have been, for chumps. It's not as simple as that. Market orders vs limit orders are a trade-off between immediac

> It seems like market orders are, and always have been, for chumps. It's not as simple as that. Market orders vs limit orders are a trade-off between immediacy and price. If you have an information advantage you may want to capture it as fast as possible and execute a market order (or a limit order that crosses the spread). The person on the other side with the standing limit order faces the risk of adverse selection (ie. they are only matched when their information is out of date and the price is too low or high). With a limit order you can avoid crossing the spread but you might either miss getting filled or only be matched when the price moves against you.