im new to investing. i just opened a ameritrade account about 2 weeks ago. i made a few market orders. but today i tried buying a stock, that is classified as a OTC. it says i cannot make a market order on this stock. it says this when i try to oder it, "Error - Only limit orders are accepted when placing an order to Buy OTC Bulletin Board securities." so, i have to make a limit order on it. there is a list of 6 choices to make a limit order. the ones one list are Day, Market On Close (MOC), End of Week (EOW), End of Month (EOM), Until Canceled (GTC), and Good ThroughDate (GTD). i want to buy this stock today and want the trade to be executed just as fast as a market oder. so, which option would execute the trade the fastest? can anyone help me out here? thanks for any responses.
Posted by Bob Frey on :
Just use Day. Means the order is good for the day.
Posted by poorman on :
You can use any of them they will not make it go faster or slower. The listings you asked about are when your buy order cancells. as an example eow would keep the buy in till end of week. I personaly use gtc but some people don't like that because if the stock starts droping in the am you may get filled when you would not want it. . Good Luck Trading
Posted by Machiavelli on :
u can use Stop or Limit Orders with GTC so all is good.. i use it all the time.. and sometimes Good for Day...
Posted by abram on :
Also, on the right you'll see Special Instructions. Hit the drop down menu on that and hit All or None. That way the Buy order will be partially filled (like with 20 shares of 1000 ordered) and you have to pay another commission fee to get the shares you wanted. Also with Sell orders too.
Posted by abram on :
I meant " That way , your order won't be partially filled".
Posted by poorman on :
quote:Originally posted by abram: Also, on the right you'll see Special Instructions. Hit the drop down menu on that and hit All or None. That way the Buy order will be partially filled (like with 20 shares of 1000 ordered) and you have to pay another commission fee to get the shares you wanted. Also with Sell orders too.
I like AON myself but you only pay more than 1 comission if it takes more than a day to fill or sell your order. At least with Ameritrade, had three sells go through the other day to fill on TNTI but only 1 charge