maybe a dumb question on my part but, what is the difference between the two? i dont think i fully understand the difference yet. can someone give me a hypothetical example?? thanks.
Posted by VNGNTN1 on :
SK A Limit order(buy or sell) means get me the best price when "order" hits price. STOP LIMIT means STOP your search @(this price??) then change it to a limit. A STOP @(this price??) means change to market order. IF you are but LIMIT @$5, System begins search for best deal maybe $5 or 4.91, or if fast moving market maybe 4.50. I general BUY limit & SELL Stoplimit. VAN
Posted by Junky on :
let's say u are hoping a stock will go down before buying the stock. but don't want to miss a run up that might come-
and the stock is at 4.90, ticker symbol XYZ. and u will pay between 5 dollars and 5.10, and want 100 shares.
u could enter the order: buy 100 XYZ 5 STOP 5.10 LIMIT
and u will only buy the stock at 5.10 or a lower (better) price, but only when the stock hits 5 dollars.
u can have the stop and limit price be the same price (i think the AMEX might require that...never placed such a trade before) but if u do that be aware your order may not be filled completely or at all.
[This message has been edited by Junky (edited February 15, 2004).]
Posted by VNGNTN1 on :
JUNKY Correct you may also state AON I hate to get caught with less than a contract needed for options trading. Ameritrade offers these features in "Advanced" VAN
Posted by SK on :