Quote:
Originally Posted by captainofiron
oil stuff and ATT has me feeling uneasy, but the others arent too bad. I guess that means I picked well
Unfortunately I lost my job right before Christmas, so no more investing for the time being.
I did get my 401k rolled over and bought some Conoco to bring down my cost basis on that one, actually its the first time I have used the limit function. I put it like 1.50 less than it was trading in the morning and amazingly (or not) it filled later in the day.
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So awesome! Here's the deal about using limit orders... over the long run - given the amount of shares to be bought or sold the actual total amount doesn't really make much of a difference. Where the difference comes into play is that you FEEL good about it. And that's very very important for people. Never underestimate the power of feeling "successful" regardless of the size or dollars. Even scoring $20 on a bet can be a far more powerful feeling than being on the losing side of that $20.
Beware of the pitfalls though of using limit orders when they DON'T get filled - and then RISE and you can end up paying more. So they can swing both ways on you and they do so quickly. You also have to stay on top of these kinds of orders... you can't just push BUY and then forget about them. If you're trying to capture the next dividend - you can miss out on something like that if you get too cute.