Thanks again Said…I am only paper trading a weekly system…I have a daily system I have been backtesting that seems ok with IB commission structure but it only takes a small amount of slippage and the profits rapidly disappear due to the small profit factor…have you found any issues with this with your extensive testing of your MRV so far or has the paper trading P/L been close to the backtesting ?
Cheers

It’s important here to clarify that the US market operates differently to Australia. Whilst Australia has the open/close auction, and your price is exact, the US uses ETN’s which scout around for the best price and volume for your order. As a result your MKT orders can be different to what the official close price is.

My experience, and I do track this almost daily, is that some work for you, some against and most are correct.

For example, last night I had an exit in ADM. my execution price was $36.33 and the official open was $36.33.

I tend to find the slippage is an issue in the Australian market and is why I prefer to do most MR trading in the US.