43

A limit order is an order to buy or sell a product at a specific price or better. For a buy order, you might buy for lower than the limit. For a sell order, you might sell for more than the limit. If you have a buy order at $10 in your example, then you are already covering every price increment up to that price with your limit order; someone may sell to you ...


35

From my understanding, my limit order is run/executed in any case since I made a limit order at x, and the share price must be a continuous function. The cases x<y and y<x at the instance of market opening can not occur since that would mean that the value can be arbitrary at market opening. No, share prices do not have to be continuous, and the ...


21

In a reply to one of the comments, you state: "Isn't [getting the transactions filled] a good thing? Isn't that the whole point of placing an order and being the first in line? What's the point of placing orders if they never get transacted?" The point of placing an order isn't just to 'get it filled', it's to get it filled at a price you are happy ...


9

It would make sense for an investor or trader to place a limit order in advance to close an existing position at a better price. For new positions, traders might be less inclined to have limit orders on the books because they could be blindsided by adverse news and while their fill would be better than current price, it could end up being a poor fill (think ...


8

the share price must be a continuous function Even if this were true, at least 17.5 hours pass between the close and the next open in US stock markets. The "true" price can change throughout this time. Sometimes the price remains visible, as with after-hours and pre-market trading. Sometimes the price is not quoted but people's views on the stock ...


7

why don't traders enter limit orders at all prices, so that they could be first in line when the price moves? Because when the price moves to your limit, you aren't "first in line": you've already made the trade. When someone agrees to your bid or ask, no one asks you if you still want to make the trade. You're obligated to make it. As such, you ...


6

The market is an auction and a security's price is determined by supply and demand. If there is a order imbalance (net excess buy or sell volume), overnight price will change. This may occur during after hours trading and if there is none, at the open of regular hours trading. If you place a limit order at X, you'll be filled at X if the security trades at ...


4

The idea of a stock having a concrete price at any given moment in time is a description of the stock market, not a fundamental reality. When you say things like: From my understanding, my limit order is run/executed in any case since I made a limit order at x, and the share price must be a continuous function. The cases x<y and y<x at the instance of ...


4

One possibility is that you have entered a relatively large order, and the brokerage firm has flagged your order to prevent costly fat finger errors. On 2021-06-14 (i.e. the day before you placed your order), only 3482 shares of FRONU were traded (reference, screenshot). Your marketable limit order of 3000 shares is relatively large; it represents 85%+ of ...


4

If you send a limit order to sell at 1800 and the market price has liquid buyers, at say 1900, most exchanges will match the order to the 1900 buyer and get you the improved price. The order type you are looking for if I understand your desire correctly is a sell stop, that will only execute once a price falls to a certain amount. Good intro to order types/...


3

With this type of order (market on close), you participate in a special "closing auction" rather than paying a bid-ask spread as with a normal market order. This can reduce trading costs (slippage). Suppose you have backtested a strategy with trades at reported daily closing prices. As long as your orders are small compared to market volume, you ...


2

What you pay for the security when you buy it is the cost and what you receive for selling it is the proceeds. These are the numbers that you 'record' and they are used for determining P&L, ROI, taxation, etc. The rest of it makes for a good cocktail party discussion of what ifs. There are a number of variations but let's consider a simple three party ...


2

If I understand everything correctly, TD Ameritrade does support market-on-open orders. Simply submit a market order while the market is closed, and it will be executed as a market-on-open order when the market opens. In order to try to verify this, I looked at the fill prices of a couple of market orders I placed while the market was closed. I looked at two ...


2

Most days, the opening 1/2 hour to hour tends to be more active because of the volume of news stories overnight. Volatility is a trader's best friend. But that doesn't mean that it's the best time of the day to trade and the remaining hours should be ignored. You should buy and sell when your price is available not based on some predetermined list of ...


2

Generally speaking, bonds trade OTC (over the counter), whereas stocks trade on an exchange. As a consequence, exchange-specific order types are irrelevant/unavailable since your broker will quote you a bid/ask price at which you can transact. The specifics depend on your broker but as an example, I'm only able to specify limit price/limit yield when buying/...


1

It depends on the conditions attached to your order. If you place an All Or None (AON) limit order and there aren't enough shares to fill your order at your price then there is no trade execution. If it's a limit order without the AON stipulation then you get whatever number of shares are available at your limit price and the rest of your order will only be ...


1

You have a fundamental misunderstanding of how exchanges work. The "share price" is not the price you can buy or sell at. It is just the price at which the last transaction was executed. At any point in time, there is a list of people who want to buy those shares, each with a maximum quantity and a maximum price. And there is another list of people ...


1

Given the volatility of meme stocks in the past 6 months, particularly in GameStop, brokers have gotten more defensive with such stocks. There's also the possibility that TD's technology is slow and when there's high volume or a system glitch, review takes longer. The best answer would be from calling TD and asking, "What gives?"


1

The short answer is that they do. Well, they do in the markets where this matters. In volatile markets, queue priority doesn't matter, you'll get filled at the back of the queue whatever. But in big heavy markets, where the price moves reasonably slowly, market makers will have resting orders in the depth ready to be front of the queue when the market does ...


1

An order is only valid for a given stock exchange. So for example, if you want to buy Microsoft, you can either buy it in New York (NYSE:MSFT) or in Frankfurt (FRA:MSF). So you submit a limit order either for MSFT or MSF. In normal times, arbitrage will make sure that the price on both exchanges is basically the same


1

Quoting @Fattie: Those orders (beyond the basic ones) are a feature of the software of your broker. Here's a broker that offers over 50 types of orders for stocks. See if one of them suits your needs and then check to see if your broker offers that type of order.


1

Welcome new users, just give one piece of information, Note that the "type of orders available" depends on your broker. Those orders (beyond the basic ones) are a feature of the software of your broker. They're not sort of "built in to the universe" if that makes sense! (So, indeed you'll see questions on here "My brokerage xyz ...


1

What you are looking for is called stop-limit order


1

In the U.S., NBBO requires that brokers execute customer orders at the best available bid and ask prices. If the bid is $1.00 and the ask is $1.10 and you place a limit order to buy at $1.20, your fill will depend on the size of your order and the size available below $1.20. If you are attempting to buy fewer shares than offered at $1.10, you get a complete ...


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