Yeah, on the long side, I typically will just straight up purchase bitcoin if it is maxed out. Having funds at Mt. Gox for longs and Bitcoinica for short is how I play it.
This answer is open to anyone, my question is: when you want to place a long a MtGox do you (a) just press 'buy' at the default price in the text box, or (b) adjust the price down a little.
I've been adjusting down a little, and it takes quite some time to convert the $ to BTC. I usually choose a number half way between the default numbers that gox shows for 'buy' and 'sell'. Is this somewhat ineffective way to do it?
Leave these numbers as default when buy/sell, or make some adjustments?
I pretty much never use limit orders when I'm trading. So if I were to buy right now, I'd type the quantity I wanted to buy and a price of like $10 / coin so that I'll get filled. I'd rather not sit there waiting for someone to fill my order.
It really depends on the size you are trading...I'm willing to give up a few cents to enter the market when I see prices moving.