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Market Orders

Allow us to buy a specific number of shares of yes/no at whatever's best available on that side. Currently, it appears we have to choose a specific price at which to execute our orders, which could have already be gone by the time someone places it, leaving it open.

Market Orders [in real life] are for suckers. Or rich people who have more $ than sense. Or brokers "churning" their clients accounts. In a word. republicans.
More often than not, your "Market Order" will execute at the highest price of the day. If you were to absolutely have to have a position, better would be to have an immediate limit $ order [I want $100 of X]. In real life you'd probably still get screwed - at the highest price of the day, but limit the "investment'.


market orders may be fine in the future, but for now they will end up hurting more than heloing who dont know what they are doing. bid/asks  way too wide and no depth for this currently

The scenario the OP describes would be better solved by what is known in the securities world as an "immediate-or-cancel" order type:

This would prevent your orders from remaining open if no immediate match is available.


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