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Scottrade definition of limit when buying?
The tutorial shows Scottrade set a limit of $ 34.00, and then stocks are bought at $ 39, which exceeds the limit. Then your explanation states the purchase is carried out only if the market reaches the limit or lower. In its index, describing the purchases made in the ceiling or BEST. Wow. They seem not to know the difference between "best", "minor" or "superior." So … If I want to buy XYZ and is currently trading at $ 10.00, I draw the line at $ 9.00 or $ 11.00? Preditor, Thanks. You has stated the obvious. It appears that Scottrade video tutorial made his mistake. Show put a limit on $ 34, then exectures purchase at $ 39. That simply does not have sense!
The purchase limit definition is universal in all brokerage firms. Deadline to purchase is a type of automatic purchase order when the price of market share of success at or below your target price. Example … XYZ Market Price: $ 10 You put a limit order bid amount of 100 of XYZ at $ 9 if kept the price above $ 9, the order will not be executed and completed in the specified date. If the market price hits $ 9 or under his command is run. It would make no sense to place a limit order to buy above the market price, since the order will be executed immediately because it is lower limit of its application. You can do the same with sales. Only works in reverse. market price of $ 10 Sell limit of $ 11 Where shares of $ 11 or more hits, runs, and its stock is sold. Once more does not make sense to place a limit order to sell below market price, since immediate implementation and its stock is sold
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