Quote:
Originally Posted by Vortech404
Question about limit orders?
Are you guy's putting in the last traded price? How much below? %
Let's say I'm interested in purchasing 75 shares of KO. The last trade price was $39.40. What would you put your limit price at $38.89 because that was the after hour price?
Thanks
John
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Okay -- so this will not be easy to say so that you "get it" but I'll try - just don't take offense because in order to make it NICE -- would take a page of explanation.
It just doesn't make a hill of beans doing a limit order for 75 shares --- when you do the math --- if you save 10 cents --- you're talking 7.50 total on the buy.... in the long run --- that's just not what is going to make or break an investment.
I'm buying 20 to 50 THOUSAND shares --- limit orders are then "real money" when you do that 10 cent math....
Having said that --- I'll answer your question --- I put in the lowest price of the day -- and do a day only trade. So if it's not filled - I can redo it the next day.