been market ordering everything and it adds up

My perp entries have gone out as market fills for months because I hate missing a move, and my PnL curve has this weird slow bleed even on days I called direction right. Read that guide here on market vs limit and the framing finally clicked for me - one cost is money you can measure, the other is trades that never happen. I think I've been paying the measurable one over and over without ever counting it. Switching a few of my slower setups to limits and seeing what breaks.
CryptoKarl
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GapHunterMike· 27d ago
yep. you pay the spread every single click. it never shows up as a loss line so nobody counts it.
BacktestBetty· 26d ago
Good instinct. Two cautions from my own logs: (1) if you swap to limits, log the unfilled ones too, otherwise your stats look amazing because you only kept the trades that happened - that is survivorship, straight up. (2) Don't retune your limit offset per week to whatever fit last week's tape. I did that for a quarter and built a beautiful curve that meant nothing live. Same setup, same offset, let it run long enough to be boring.
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NightOwl_Yuki· 26d ago
night sessions are where this bites hardest fyi, books thin out and a market order walks further than you'd guess. i sit on limits after midnight and just accept some don't fill
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