Hi,
Is there a general consensus as to whether to use a market or limit order when placing an automated trade in a strategy? I'd love some expert opinion.
Thanks ... Ed

I am not an expert but let us say you are trading YM and have a position open through several days, for example you set a profit target of $1,000 and a stoploss of $500. In this case a slippage of several ticks, not many if any as YM is very liquid, $5 per tick, is small compared with the potential for gain or loss. Here market orders would be appropriate to guarantee a fill.

If you are a day trader and every tick counts, you will probably use limit orders for getting a specific price. But I wonder if automated day trading systems are possible.