Any advantage to placing early limit order?

[Alfred]

Would therebe any advantage in placing a limit order early and then moving it to precisely where you want it placed as the trade approaches.....would this get you in an earlier spot in the line of all of the resting orders for a faster execution?

[NinjaTrader_Ray]

Thoeretically it is not any faster although practically it seems to be by 100 to 500 ms.

[mkundi]

Is there a queue mechanism used by the exchanges for all LMT orders issue as a particular price ? It seems to me there is. I have seen LMT orders a specific price, when issued earlier, gets a better fill, than a LMT order at the same price, when issued just close to when the market approached it, gets a better execution.

But I dont know for sure ..... if the exchanges use such a PRIORITY based first-in first-execute policy. It would be, but natural to assume, that they may use such a policy.

Do u know if there is ... a such mechanism.

Does anybody knows for sure .... what policy the exchanges use for LMT queued orders (if any) at a given price ?

In any case, I would think, that MKT orders, in any situation, would get first priority over any LMT orders...... !! ?

Besides, at GLOBEX, since all orders are LMT orders (I think), how do they decide WHOSE order get the priority to be executed.