Buying shares "at limit"?

[Klimer]

Hi, a fellow newbie here thinking the same question.

So overall, does it mean that by setting a limit of say, $0.70, your order is less likely to be filled (since it is in a queue) compared to someone who immediately places a manual "at market" order when the price reaches $0.70?

 

[So_Cynical]

Hi, a fellow newbie here thinking the same question.

So overall, does it mean that by setting a limit of say, $0.70, your order is less likely to be filled (since it is in a queue) compared to someone who immediately places a manual "at market" order when the price reaches $0.70?

"At market" means your buying or selling to the highest bidder in the queue, in very very lightly traded stocks (mostly micro caps) limit orders can sit there for weeks without getting filled even if your first in the queue.

 

[Sergio]

sometimes, the seller for one share have fewer number of stock than what we wanna buy..let say i wanna buy 200 A for 1.200each, but seller for price of 1.200 only have 100 stocks..

am i get that 100 stocks and the other 100 is in Q again?

cheers =]

 

[skyQuake]

sometimes, the seller for one share have fewer number of stock than what we wanna buy..let say i wanna buy 200 A for 1.200each, but seller for price of 1.200 only have 100 stocks..

am i get that 100 stocks and the other 100 is in Q again?

cheers =]

Yup. Generally you will be charged brokerage once that whole 200 shares get filled. (You can even move the order around)

 

[pixel]

Yup. Generally you will be charged brokerage once that whole 200 shares get filled. (You can even move the order around)

Watch out about the brokerage:
Some brokers will charge one brokerage per order, regardless how long it will take to be filled, and yes, you can change and move those unfilled portions around for weeks if you wish. Westpac does it that way.
Others will charge a brokerage each day a part of your order is filled; but they will allow you to place a number of smaller orders - take several bites at the same cherry, so to speak - and bundle them on one contract note. PariTrade, Pershing, AOT Online do it that way.