Limit order
- Thread starter xen88
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What was the generally prevailing price before you placed the order?
Ultimately a limit order is a maximum price (buying) or a minimum (selling) but if the market's currently trading at a lower price (buying) or higher price (selling) then you'll get a price that's more favourable.
Is this a fairly liquid stock (one with a lot of buying and selling activity)?
Or is it something that has very few trades on a typical day?
tech/a
No Ordinary Duck
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Limit $12 or better
I often use stop limit
I often use stop limit
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When using a limit order to buy, your limit is the maximum price you will pay. If the broker can get you a lower price he will.
let me google that for you
let me google that for you
I put the order last wk at $12 & at the time the price was about $13. It is a liquid stock. I think it’s a bit odd.
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Because it gapped down on open.
The stock closed a little above 13 yesterday, but opened today a little over 10, thus you bought at the open price, and not your limit.
Check out pre post auction information on ASX together with trading hours and opening times. (Fundamental basic knowledge)
So, making us guess which stock it is doesn't help provide an answer.
A2M was it ?
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Your order, (I assume)
2500 @ $12 each = $30,000
Your actual purchase
2500 @ $10.34 = $25,850
Brokerage costs extra, figures approximate...
2500 @ $12 each = $30,000
Your actual purchase
2500 @ $10.34 = $25,850
Brokerage costs extra, figures approximate...
Thank you so much, I understand it all now.
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This link should help your understanding.
Between 7am and approximately 10am, orders are queued.
Buys and sells. At open, the orders that are crossing and matching are all balanced out to the average price, be it the open price, or final close price around 4:10 pm
The same thing happens between 4pm and 4:10pm (approximately.
Stocks open in order, alphabetically from 10am to 10:09am give or take etc, as per the link.
Check out stocks market depth before 10am and between 4pm and 4:10 pm for a demonstration of what I am trying to explain.
Hope that helps.
Cheers.
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Actually, you could check out VML market depth and see what I mean.
It's going to gap up. Check out the top buy orders and you may get the drift, it will balance the buys against the sells.
It's in a trading halt and has crossed orders, so depending on the final display of orders in Monday morning open, the price will gap up.
Heck, here it is. A screen grab.
After 7am Monday morning, it will show an "indicative price" which is an approximation by my broker based off all the orders they see.
Cheers.
It's going to gap up. Check out the top buy orders and you may get the drift, it will balance the buys against the sells.
It's in a trading halt and has crossed orders, so depending on the final display of orders in Monday morning open, the price will gap up.
Heck, here it is. A screen grab.
After 7am Monday morning, it will show an "indicative price" which is an approximation by my broker based off all the orders they see.
Cheers.
