Dukascopy has a wide range of Order Types. Also, it supports "computer automation" of trading in a way which is very much accessible to traders through the JForex API (Application Programming Interface). Here's a chart of the order types available to all traders:


Dukascopy's PLACE_BID and PLACE_OFFER types are my favorites because they are not "conditional becoming market orders". Instead, the order is "live" on the ECN and benefits from "price improvement" due to ECN liquidity. With this type of order, there are frequently Partial Fills and have at least the possibility of putting you "Best Bid" or "Best Offer" live in the market.

Sometimes if you use PLACE_BID, and place it at the ASK price of the market, you can be filled at a much lower price, even near the BID price, depending upon the instantaneous liquidity. This is what I use in my software.

I think of these as "wholesale" order types; rather than strictly "retail" orders (where you must pay all of the spread). These can give a Scalper a price advantage, and you can Try to "join the bidders" to get a better fill price.

Also, if you obtain Multiple Positions in a Market, you can easily MERGE these multiple positions into an equivalent SINGLE position at no extra commission fee. Dukascopy is amazing !!

HyperScalper

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