I've run into a wall with my systems development as I've got no idea of what level of slippage to build in (as I've done little live trading). As far as I can see this is something that's determined through experience so I'm looking for people's opinions on the level of slippage that is encountered when trading stocks and on the questions below:
1. What is the minimum price tick on stocks (ASX)? I've been told both .5c and .1c. Does the minimum tick change with SP - i.e. does a $20 stock trade in half cents and a 10c stock trade in tenths of a cent?
2. Does the price info provided by comsec (for example for last trade at 10.905) represent the same value that that person taking the trade would have paid/received? In other words, does comsec fill orders at prices to 3 decimal places, or could that trade actually have been filled at 10.9048?
3. What level of slippage have you experienced from live trading? This might be slightly too broad a question, but any opionions would be helpful.
I presume that the level will largely depend on the share price of the stock (or possibly the average range relative to the SP) so perhaps information classified by SP would be appropriate?
Any input would be greatly appreciated.