Let's say we want to buy stock X at $1
We say we will buy at $1, but by the time our request arrives to the seller/transaction broker, the price has moved to $1.05
Does our request just get denied or do buyers get to say we want to buy stock X between $1 and $1.50?
This way, there's a buffer to allow for some stock price movement while our transaction is in the pipe. Is this how it works?
If it is, is the buying FIFO (First in first out) or do large buyers/sellers get to jump to the top of the queue?