I am a newbie investor and have a read a few books on long term stock trading and I'm ready to execute my first trade.
I've been researching when to use limit orders vs when to use market orders and the advice seems to be: avoid using market orders unless you have an excellent reason to do so. As a newbie, I am having trouble determining the price I should set my limit order at. I tried this about a month ago and the limit order was never executed.
If I find a company that I do not consider to be over-valued, would it be appropriate to use a market order for my very first trade, or am I just being impatient?