Why is there a wait time when placing buy and sell orders?
Is the wait time also enforced on the OAuth trade endpoint?
I am asking this because I noticed an active tradebot on a TAT.VIRTUALMINE trade. It seemed that the bot had advance knowledge (about my trades) and a faster trading speed (its trades were processed faster) than I had because of the wait times.

What do you mean by wait time? My trades always get placed directly. Of course there can be some slowness in loading the site from time to time, but that also affects API-trading I noticed.