Post #1203 by platykurtic on the Mechanical Investing board

Investment Strategies / Mechanical Investing

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Thx. Have you tried that enough to confirm that it works? Meaning that your trades always come in at the published close price?
I've done MOC orders for my MI work and it's always worked as intended.

You can also enter the order more or less at any time as long as it's earlier than 30 minutes before closing (& allowing for a little price movement when calculating the amount of the stock to buy) and you'll always pay the official closing price + IB's fee. It results in minimal friction (as I've defined it above which in this case is just IB's fee) and so I use a far lower friction number for myself than the standard 0.4% used normally.

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