First post on this thread and am hoping someone may be able to help me out!? As i'm sure most of you are all aware, trading rarely opens at the exact price it closes at the day before.
My questions to you are:
1) If you put an at limit (buy) order 1 pip above the closing price, is there a chance that my order will be executed at this price during pre-opening trading even if the opening price is 5 pips above the closing price? Or is pre-opening trading purely to determine opening price and all orders below that opening price will not be executed?
2) If it is possible, will this be a large factor in determining broker? Or are most on-line brokers pretty handy with this sort of execution.
I short, I want to know if it is possible to enter a limit (buy) order during closing hours that is above closing price but turns out to be below opening price?
Thank you very much for your help.