I am a Fidelity customer. Does the first Warning mean I cannot do pre-market trading? If that is true, who can?
The order is actually executed when the price target is met. I am confused.
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No. The warning says you are placing a pre-market order that is eligible for trading until two minutes before the market opens.
They are warning you because pre-market trading carries additional risks, like reduced liquidity and increased volatility, and they want to be sure you are aware of what you are doing.