Courses › BLT | Bank Level Trading
Using Limit Orders vs Market Orders
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What this lesson covers
This lesson makes the case for limit orders and is direct about it: the BLT method does not use market orders except in very rare circumstances. The strategy is complete and thoroughly tested, and one of the rules that makes it work is that entries are placed in advance at a defined level rather than taken at whatever price is available when you decide to act. The exception the lesson allows is narrow, such as a limit missed by a fraction of a pip on a trade you are confident in. The reasoning is that a market order is almost always a decision made under pressure, and pressure is the one condition under which your judgement is reliably worse.