I'm following an automated trading system. It gives me buy/sell signals periodically. I usually just add/subtract 0.5% from the current price (as reported by Google Finance) and buy/sell.
Last Monday, I did the same, but apparently the stock I was trying to sell fell in price quicker than my broker could sell it at my limit price. It fell about 3%. I wouldn't have minded selling at 1%, 2% or, frankly speaking, any percent lower. I just don't wanna hold on to it.
So, should I just use market orders instead of limit orders? Will it cost me more money to use market orders than limit orders with my current +/- 0.5% formula?