What would be the quickest way to get a market order (in the equity market) executed? Would an AMO be better than an order right after the open.
Yesterday, in trying to exit Yes bank, both types of Sell (Market) orders remained open even after the trading normalized. (i.e. after the circuits were open/broken). I had to eventually cancel both & fire fresh market orders before they were eventually executed.
Was this an exchange/Zerodha issue? Or user error on my part? Or simply the sheer volume?
I digress, though. Just wanted to know, going ahead, what would be the best way to exit as quickly as possible.
Thanks for your time.
First of all, sorry to hear about your loss.
Now, as far as the quickest way of exiting is concerned, it would be to place normal market orders rather than the AMOs.
As far as I understand, there are thousands of AMOs lined up and it takes some time for the exchange to process all of them. Whereas a regular market order just cuts through the line and takes precedence.
It is explained, here:
Hi & thanks for your time.
So sending an order at 9.15 am is indeed the best practice then.
PS: Could the pre-opening session be better suited? I’ve read & re-read the info about the pre-open session but haven’t been able to wrap my head around it. Then again, it’s an AMO iinm.