The market opens and at 9:45 the stock has reached $10.15 and goes no higher and looks like it is going to start to roll over and head lower.
You want to maximize profits. Do you just change order to MARKET? MARKET AON? or SELL LIMIT to $10.14? SELL LIMIT AON?
What is best way to sell it at its highest amount as it tops and begins to head lower?
Thanks, Bill
Posted by T e x on :
not enough data...
are we trading on an exchange? or is this a high-priced OTC? chart indicators? number of trades?
If you're still asking simply about styling the order, a market order will get you out the quickest--but you prolly will hate the results, especially in penny-world (ie, OTCBB/pinks, etc)...
Posted by mrcyberbill on :
Sorry.. Trading a $5-$10 stock NASDAQ on a discount provider such as SCOTTRADE, etc.
The question was mainly dealing with "I want out now! and maximize my profits as opposed to chasing the stock price downward." kinda question.
I was not sure if a LIMIT order would happen before a market order.. or if NOT doing a ALL-or-NONE would hasten my exit by a couple of seconds even though it might spread the exit over multiple price changes, etc.
Thanks, Bill
Posted by T e x on :
as posted earlier, AON puts you at the back of the line...
market order *is* quickest, but leaves you wide open for trashy, slutty fills... Personally, I would *never* use a market order unless I had timed a group-play wrong *and* had alotta dough involved...such that protecting capital became paramount.
These are good questions...shows you're thnking about the environment. Basically, think limit orders, esp in pennies.
edit: A Nazzer that gets hit by bad news may react like a penny in freefall... market order might be justified. Chances are, though, you won't get it entered in time.
What you want to focus on are limit orders and stop-limit orders, imo...