You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Market Order
- Thread starter chiefraven
- Start date
Quote from Steve Tvardek:
NX'ing SNDK??? Geez, you do realize that NX is for NYSE issues only, not Nasdaq.
--------------------------------------------------------------------------------
LOL!!!!!!
========================================
Oh my!! ..... hmmm....too much Bailey's last nite, maybe.
NX'ing SNDK??? Geez, you do realize that NX is for NYSE issues only, not Nasdaq.
--------------------------------------------------------------------------------
LOL!!!!!!
========================================
Oh my!! ..... hmmm....too much Bailey's last nite, maybe.
NX AOL too!!!!!
Quote from rcj:
Quote from Steve Tvardek:
NX'ing SNDK??? Geez, you do realize that NX is for NYSE issues only, not Nasdaq.
--------------------------------------------------------------------------------
LOL!!!!!!
========================================
Oh my!! ..... hmmm....too much Bailey's last nite, maybe.
Whoa, now...first off we teach our people to never use NX orders unless there is a 1 penny spread, and even then, why bother. By using NX, you are guaranteeing the widest spread shown. If you simply place a sell order below the bid, and you will notice "price improvement" half the time (or more) from the quoted bid.Quote from chiefraven:
As a beginner, i'm only concentrating on getting in and out of trades with NX orders right now. However, i was wondering if anyone could explain why would anyone want to use market order as opposed to just nxing out of or into a trade? Also, should i worry about practicing limit orders right now? I'm only trading with 100 shares right now so obviously i dont have to power to influence a lot of the buyers/sellers if i do place a limit order anyway.
Finally, I was wondering if someone could explain when they would use a certain order as opposed to others. I mean i know when you make a market order you are getting the price when your order reaches the specialist, but why would someone do this instead of nx, when they can see the offer and bid prices themselves on the tape and act accordingly, isn't that safer and more economical? And what's this i hear about how market order can improve the price?
Anyway, any advice on this topic are welcomed.
Limit orders are handled immediately by the "clerk" (assistant Specialist)...and market orders are held for execution only by the Specialist, who 'batches' orders from time to time and he determines pricing.
For better entries and exits, I suggest limit orders without NX. The must give you the best price, no matter what (within your limit, of course).
All the best,
Don