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Algorithmic trading is a method of executing a large order (too large to fill all at once) using automated pre-programmed trading instructions accounting for variables such as time, price, and volume to send small slices of the order (child orders) out to the market over time. They were developed so that traders do not need to constantly watch

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An Introduction To Direct Access Trading Strategies by Barry Johnson . This book starts from the ground up to provide detailed explanations of both these techniques: - An introduction to the different types of execution is followed by a review of market microstructure theory.

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