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Author Topic: Question about a Buy Limit
100stacks
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Say I want to buy a stock that's currently at .05, can I put a Buy Limit for .06? If I put the buy limit at .06 will the stock be bought right when the market opens at 9;30ET
Posts: 154 | From: Spencerport , NY | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
Relentless Despot.
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http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/forum/f/9.html
Check here first.
Answer to your specific question is yes if you put a buy order in well above the current stated ask price your order will go through quickly for the stated ask price...
I suspect though that you might want to visit the above link and familiarize yourself with some of the suggestions offered.
Best of luck

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Spend word for word with me and I shall make your wit bankrupt

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beechwood
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Usually if you give the MM a point above ask
your trade will go through rather quickly.
However, patience is a virtue in this bear market
As such, I've been placing my limit orders well below bid, wait for the lattest tank in the market to drop, and the low price falls right into my lap and then rebounds from subsequent bargain hunters.
I don't know if there is a name for this strategy
or not but I find it more reliable (and safer)
than selling short on margin and rushing to cover
on the rebound.

Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
A.J.
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Beech,
I pretty much work it the same way because the market will almost always fall back.
It makes me mad though when I see not much activity on Level 11 and I know I'm next and the MM will purposely keep the market at the higher ask when there is no demand.
I've given in a time or two but swear I will not do it again. The market A-L-W-A-Y-S falls below my desire within 3-5 days.
Lucky

Posts: 188 | From: MISSOURI | Registered: Jul 2005  |  IP: Logged | Report this post to a Moderator
T e x
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not sure what you mean by "Buy Limit"

Are you referring to entering a buy order--not a market order but a limit order--above the ask?

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
   

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