Investing 102

[GregWeld]

Originally Posted by WSSix

That's not a bad idea, Bryan. I might try that next time just to see if it works out. Sure, in the long run it won't matter but it would be nice to one, ensure you don't buy at a spike like you mentioned, and two, basically bargain on the price of your purchase.

The "bargaining" you mention is exactly what this is -- in a round about way. You say what you're willing to pay --- and if someone is willing to sell at that price -- then GREAT. If not - you can then choose to set a different price.

I would NEVER set a limit order above the current market price.... I always go below... if you get filled great -- if not -- you have time -- wait for another day.

I always buy on DOWN days... thus the lower limit price. At some point during the day -- someone comes in and hits my target. Of course it can always continue to fall... but that's a different issue.