Simultaneous buy & sell orders

[Smurf1976]

The situation has never arisen where I'd want to do it since I'm not a short term trader but hypothetically, is there any rule which precludes placing buy and sell orders into the market for the same stock simultaneously?

Eg I own 5000 shares in xyz which is currently trading at $1.00

If I were to place a buy order for another 4000 shares at $0.95, and a sell order for the 5000 shares I currently have at $1.05 with both orders actually placed in the market then is there anything (rules, laws etc) which precludes doing so?

I'm guessing the answer will be blindingly obvious and well known to those who day trade etc but for me it's a hypothetical.

 

[Zaxon]

If I were to place a buy order for another 4000 shares at $0.95, and a sell order for the 5000 shares I currently have at $1.05 with both orders actually placed in the market then is there anything (rules, laws etc) which precludes doing so?

No. That's fine. As long as you've got the cash in your account, your buy order is good to go. And as long as you're placing a sell order for shares you already own, that's fine too.

From the market's POV, they're just two unrelated orders.

 

[PZ99]

Check with your broker as to how many buys and sells you can have in the queue.

Some brokers give you a limit of 3 buys and 3 sells per stock.