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The priority is in the timing benefits more so than the price, in that the seller that got in earlier at 10 will sell before the seller that also wants to sell at 10, but put his order in later. The buyer therefore buys from the first seller that put up the offer at 10, and thee second seller...

The seller has already committed that selling the stock at price $10 is acceptable to him. The buyer commits he'll buy at anything up to $10.5, but the lower the better. Hence the order fills by buying the stock at the price of $10. Ok that didn't explain it as I intended, let me try again...

If someone is willing to sell at 10 and you're willing to buy at 10.5, you'll buy all the shares (offers) starting at 10 and going up in price until either your order fills or you hit the 10.5 limit.

My mental diary of my own trading history. Spot mistakes, fix them, carry on.

Lame. GTFO.

Most often quoted quote in the last 2 years?

Yeah, trick question. It's a district not a state! :p

I don't think he does. Clearly Wikipedia is already more than a match for his reading comprehension skills.

You're quite clearly a troll, intentionally ignoring logic and focusing on stirring the pot. What a waste of space.

Wikipedia: Compare to my previous post: Again, let me highlight a part of the wikipedia quote: "Conversely people strongly prefer risks that might possibly mitigate a loss (called risk seeking behavior)." Not cutting your losses is exposing yourself to more risk, because they...

You make my head spin. But I'll play along. Please explain loss aversion to me.

Actually you misunderstand loss aversion. While it would be logical to cut your losses if you were consciously loss-averse, loss aversion simply means a dislike for taking losses. Given a portfolio with two stocks, one that has gained in value and one that has lost value, most people will...

What exactly is the purpose of all this?

I started two years ago with $10k, did ok and got up to about $20k, misjudged what would happen when the recession fears hit the stock market and dropped to $9k, completely changed my strategy, and now I'm fairly profitable, having gone from $15k 8 months ago to $41k now. Percentage wise I am...