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A basic question about order type

Discussion in 'Beginner's Lounge' started by steelcat, Feb 15, 2015.

  1. steelcat

    steelcat

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    There are market and limit

    I think market is the "current price".

    limit if the price you want,

    right? I think I am right, just want to make sure.
     
  2. burglar

    burglar

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    Re: a basic question about oder type

    Market price is only available during trading hours.
    If you buy, it is the current sellers' price.
    If you sell, it is the current buyers' price.
    It has associated risks.

    As you say, limit is the price you want.
    If it reaches your price, your position in the cue and there is sufficient liquidity, you get a full fill.
    If there is insufficient liquidity you may get a partial fill (paying full brokerage).
    If you keep the order open long enough, it may eventually fill.



    The Broker is not your friend!


    mr t.jpg

    And Mr T says:
    "Remember your ABC!
    Always be cool!!"
     
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