GTC,DAY,EXT order

[privador81]

Whats diffrence between GTC DAY EXT order?


I know that i cant trade DAY order external time
But seems my EXT orders are executed in daily as well GTC orders.So why the hell we need DAY order at all.


And second problem.
Lets say i have 5k in my account buying power is 2X SO 10K

And i find myself 3 intresting stocks
Is it possible to put 3 orders all with 10k.And if there execution then others canceled.
But now i have problem i can enter only one order becouse it exceeds buying power.And its so annoying?

Is there any help for this?

 

[mgookin]

Quote from privador81:

Whats diffrence between GTC DAY EXT order?


I know that i cant trade DAY order external time
But seems my EXT orders are executed in daily as well GTC orders.So why the hell we need DAY order at all.


And second problem.
Lets say i have 5k in my account buying power is 2X SO 10K

And i find myself 3 intresting stocks
Is it possible to put 3 orders all with 10k.And if there execution then others canceled.
But now i have problem i can enter only one order becouse it exceeds buying power.And its so annoying?

Is there any help for this?

If you put in a GTC of course it will fill during the day. As for EXT orders filling during the day, logic says you put on a trade and they filled it. I think that's a better service then the brokers who segregage day and EXT trading. I don't see how this could be a problem.

As to your second question, a broker is typically not going to let you put in more orders then buying power in your account, but for questions specific to your broker, please call your broker; they are the ones who can explain exactly how it works at their firm. Each firm has their own operational structure.