vania-janet/multiturn-rag-retrieval-data huggingface dataset:
But how does the quantity matching happen? For example, if I want to buy 1000 shares at $100, but there is only one seller to sell 10 shares at $100, what happens then? This depends on the type of order you've placed. If you placed a fill-or-kill order, your order to buy or sell a certain number of shares is routed to the trading floor for immediate execution. If the order cannot be immediately filled, it is cancelled (killed) automatically. Note that the order must be filled in its entirety. Partial fills are not allowed. In your example, your buy order wouldn't be filled because it couldn't be matched to a sell order of the same volume. This is similar to an all-or-none order, which is an order that contains  A condition instructing the broker to fill the order completely or not at all. If there is insufficient supply to meet the quantity requested by the order then it is canceled at the close of the market. In this case, if your order wasn't matched to an order of the same volume by the time the market closes, it's cancelled. If you simply placed a market/limit order, and (in the case of the limit order), part of your order was matched to another order with the right price, that part of your order will be filled, while the rest will remained unfilled.
If you are in it for the long run and are not worried about intra day fluctuations and buying within + or - 1% you would be better off going for a market order as this will make sure you buy it on the day.  If you use limit orders you risk missing out on the order if prices gap and start rising in the morning. Another option is to employ stop buy trigger orders (if offered by your broker). So you would have to sum up and decide which type of order would suit your strategy the best. Are you looking to buy the security because you are looking for long term growth and gains, or are you after getting the best price possible to help your short term gains?
Stop order is triggered when the market reaches the price you set. Until then - its not on the books. Your understanding is wrong in that you don't go to read the definition of the term.
It depends on how you place your stop order and the type of stop orders available from your broker. If you place a stop market order and the following day the stock opens below your stop your stock will be stopped out at or around the opening price, meaning you can potentially end up with quite a large gap. If you place a stop limit order, say you place your stop at $10.00 with a limit price of $9.90, and if the price opens below $9.90, say at $9.50, your limit sell order of $9.90 will be placed onto the market but it will not be executed until the price goes back up to $9.90 or above. The third option is to place a Guaranteed Stop Loss, and as specified you are guaranteed your stop price even if the price gaps down below your stop price. You will be paying an extra fee for the Guaranteed Stop Loss Order, and they are usually mainly available with CFD Brokers (so if you are in the USA you might be out of luck).
"What you are saying is a very valid concern.  After the flash crash many institutions in the US replaced ""true market orders"" (where tag 40=1 and has no price) with deep in the money limit orders under the hood, after the CFTC-SEC joint advisory commission raised concerns about the use of market orders in the case of large HFT traders, and concerns on the lack of liquidity that caused market orders that found no limit orders to execute on the other side of the trade, driving the prices of blue chip stocks into the pennies.  We also applaud the CFTC requesting comment regarding whether it is   appropriate to restrict large order execution design that results in   disruptive trading. In particular, we believe there are questions   whether it is ever appropriate to permit large order algorithms that   employ unlimited use of market orders or that permit executions at   prices which are a dramatic percentage below the present market price   without a pause for human review So although you still see a market order on the front end, it is transformed to a very aggressive limit in the back end. However, doing this change manually, by selling at price 0 or buying at 9999 may backfire since it may trigger fat finger checks and prevent your order from reaching the market.  For example BATS Exchange  rejects orders that are priced too aggressively and don't comply with the range of valid prices.  If you want your trade to execute right now and you are willing to take slippage in order to get fast execution, sending a market order is still the best alternative."
This depends on the stock exchange in question. Generally if you modify an existing order [including GTC], these are internally treated as Cancel/Replace Orders. Depending on the action, you may lose the time priority position and a new position would get assigned. More here. (f) Cancel/Replace Orders. Depending on how a quote or order is   modified, the quote or order may change priority position as follows: (1) If the price is changed, the changed side loses position and is   placed in a priority position behind all orders of the same type   (i.e., customer or non-customer) at the same price. (2) If one side's quantity is changed, the unchanged side retains its   priority position. (3) If the quantity of one side is decreased, that side retains its   priority position. (4) If the quantity of one side is increased, that side loses its   priority position and is placed behind all orders of the same type at   the same price.
Based on my research while asking How are unmarketable market orders (other side of the order book is empty) matched with incoming orders? and the one answer there, it seems like there are a few things for certain: All of this of course depends on the exact algorithm specified by the given exchange - I don't think there's a standard here.
try to sell if today's google stock goes above 669$ This is Relative/Pegged-to-Primary Order with a Limit Price of $669 and an offset from National Best Offer of $0.00, but it is no different than an Market Order if the market price is $669 to begin with.  do not sell if the stock keeps climbing beyond 669 unless there is a down tick of 20cents is seen This is a Trailing Stop Order with a Trailing Amount of $0.20. It sells if the market price dropped $0.20 from the peak.  The two orders are contradictory. From your comments, I think the following is what you want: Submit Trailing Stop Order when market price is above $669.  Cancel Trailing Stop Order before the end of the day and Submit Relative/Pegged-to-Primary Order to Sell.
My broker collates the order book by price and marketplace, displaying the number of shares available at each level, sorted as in Victor's screencap. You can glean information from not just a snapshot of the order book but also by watching how it changes over time. Although it's not always a complete picture -- many brokers hold limit orders internally until the market is close, at which point they'll route to an exchange or trade internally. And of course skilled market participants know that there's people out there looking to glean information from the order book and will act to confuse the picture. The order book can show you: Combined with a list of trades (price & size, and whether it was a buy or sell), you can get a much more complete picture of what's going on with a stock than by looking at charts alone.
Ethereum trades are not subject to the same rules as securities are. Thats the primary flaw in your assessment. Yes, cryptocurrency is a free trading arena where you can actually take advantage of market inefficiencies yourself 24 hours a day, 7 days a week, at massive profits. The equity securities markets are not like that, and can't be used as a comparison. If you have a preference for flexibility, then it is already clear which markets work better for you. Market makers can make stub quotes, brokers can easily block their retail customers from doing it themselves. Even the dubious market manipulation excuse is reference to a sanction exclusive to the equity markets. The idea that it went through a week earlier probably triggered the compliance review. Yes, a broker can refuse to place your limit order.
On most exchanges, if you place a limit order to sell at 94.64, you will be executed before the market can trade at a higher price. However most stocks in the US trade across several exchanges and your broker won't place your limit order on all exchanges (otherwise you could be executed several times). The likeliest reason for wht happened to you is that your order was not on the market where those transactions were executed. Reviewing the ticks, there were only 8 transactions above your limit, all at 1:28:24, for a total 1,864 shares and all on the NYSE ARCA exchange. If your order was on a different exchange (NYSE for example) you would not have been executed. If your broker uses a smart routing system they would not have had time to route your order to ARCA in time for execution because the market traded lower straight after. Volume at each price on that day:
If you have $10000 and wish to buy 1000 shares of a $10 stock, you risk borrowing on margin if you go over a bit. For some people, that's a non-issue. Some folk with an account worth say, $250K don't mind going over now and then or even let the margin account run $100K on a regular basis.  But your question is about market orders. A limit order above the market price will fast-fill at the market anyway. When I buy a stock, it's longer term usually. A dime on a $30 share price won't affect my buy decision, so market is ok for me.
I don't think user4358's explanation is correct. A trailing LIT Sell Order adjusts downwards, i.e. if you place the order with an Aux price (in TWS it's trigger price) of 105.00 and a trailing amount of 6.00 then, assuming the ask is 100.00, TWS will add the trailing amount to the ask price and if it's less than the trigger price it will adjust. So in my example, if the market (ask) goes straight up to 105.00, nothing will be adjusted, the trigger is touched and the limit order will be placed (see below). If on the the other hand the market goes down to 99.00 then trlng amt + ask is 105.00, if it goes further down to 98.00 then the trigger price will be adjusted to 104.00 (because it's less than the current trigger), and so on. For the LIT part you have either an absolute limit price you can enter, or you have an offset limit which will be subtracted from the trigger price, in which case it is adjusted as well. So back to my example, the trigger is now 104.00 and the limit offset is say 1.00, so my limit order would be placed at 103.00 if the ask ever touches 104.00, and that in turn is only visible if the bid touches 103.00 (because it's limit-if-touched). For a buy just use the same explanation with some swapped roles, the trigger price adjust upwards when the trailing amount plus bid is larger than the current trigger, and the limit offset will be added to the trigger price. Edit Also quite succinct and worth having a look at: http://www.interactivebrokers.com/en/trading/orders/trailingLimitTouched.php Guesswork, highly subjective As for why this might be good, well, you have to believe in momentum strategies, i.e. a market that goes down, will continue to go down, if you believe that and you believe in mean reversion as well, then a trailing limit order can assist you in not buying/selling impulsively, but closer to the mean. I've never used it that way though.
You would place a stop buy market order at 43.90 with a stop loss market order at 40.99 and a stop limit profit order at 49.99. This should all be entered when you place your initial buy stop order. The buy stop order will triger and be traded once the price reaches 43.90or above. At this point both the stop loss market order and the stop limit profit order will become active. If either of them is triggered and traded the other order will be cancelled automatically.
"The shares available to short are a portion of those shares held by the longs. This number is actually much easier to determine outside of active trading hours, but either way doesn't really impact the matter at hand since computers are pretty good at counting things. If your broker is putting up obstacles to your issuing sell short limit orders in the pre-market then there is likely some other reason (maybe they reserve that function to ""premium"" account holders?)"
It will depend largely on your broker what type of stop and trailing stop orders they provide. Saying that, I have not come across any brokers yet that offer limit orders with trailing stop orders.  Unlike a standard stop order where you can either make it a market stop order or a limit stop order, usually most brokers have trailing stop orders as market orders only, where you can either set the trailing stop to be a dollar value or percentage from the most recent high. Remember also, that trailing stop orders will be based on the intra-day highs and not the highest closing price. That means that if the share price spikes up during the day your trailing stop will move up, and if the price then spikes down you may be stopped out prematurely, after which the price might rally again. For this reason I try to base my trailing stops on the highest closing price by using standard stop loss orders and moving it up manually after the close of trade if the share price has closed at a new high. This takes a few minutes each evening (depending on how many stocks you have to check and adjust the stops for) but gives you more control. Using this method will also enable you to set limit orders attached to your stop loss triggers, and you won't have to keep your trailing too close to the last high price thus potentially causing you to get stopped out prematurely. Slightly off track but may be handy if you set profit targets, my broker has recently introduced Trailing Take Profit Orders. The way it works is, say you have a profit target of 50%, so you buy at $2 and want to take profits if the price reaches $3, you could set your Trailing Take Profit Trigger at say $3.10 or above and set a Trail by Amount of say $0.10. So if the price after hitting $3.10 falls to $3.00 you will be stopped out and collect your profits. If the price moves up to $3.30 and then falls to $3.20, you will be stopped out at $3.20 and make some extra profits. If the price continues going up the Trailing Take Profit will continue to move up always $0.10 below the highest price reached. I think this would be a very useful order if you were range trading where you could set the Trailing Take Profit trigger near recent resistance so you can get out if prices start reversing at or around the resistance, but continue profiting if the price breaks through the resistance.
"if it opens below my limit order  What exactly are you trying to achieve here? If your limit order is for 100 and the stock opens ""below"" your limit order, say 99, then it is obviously going to buy it automatically.  also place a stop loss on the same order  Most brokers allow limit + stop loss order at the same time on same order.  What I conclude from your question is that you're with a broker that is using obscure technology. Get a better broker or maybe, retry phrasing your question correctly."
"In a way yes but I doubt you'd want that. A ""Stop-Limit"" order has both stop and limit components to it but I doubt this gives you what you want. In your example, if the stock falls to $1/share then the limit order of $3/share would be triggered but this isn't quite what I'd think you'd want to see. I'd suggest considering having 2 orders: A stop order to limit losses and a limit order to sell that are separate rather than fusing them together that likely isn't going to work."
This is rather simple if you understand a trailing limit order but to be sure I am going to explain a limit, trailing limit, and trailing LIT order. I am going to use an example assuming that you already own a stock and want to sell it. Limit Order I place an order to sell 100 PG @ 65.00. This order will only be executed if the bid price of PG is at $65.0000 or greater. Trailing Limit Order I place an order to sell 100 CAT @ 85.25 with a trailing 5%. This order will be executed when CAT drops 5% below the highest point it reaches after you place this order. So if you place this order at 85.25 and the stock drops 5% to $80.9875, your order will be executed. However, if the stock jumps to $98, the order will not be executed until the stock falls to $93.10. The sell point will go up with the stock and will always remain at the specified % or $ amount behind the high point. Trailing Limit If Touched Order I place an order to sell 100 INTC @ 24.75 with a trailing 5% if the stock touches $25.00. Essentially, this is the same as the trailing limit except that it doesn't take effect until the stock first gets $25.00.  I think the page they provide to explain this is confusing because I think they are explaining it from the shorting a stock perspective instead of the selling a stock you want to profit from. I could also be wrong in how I understand it. My advice would be to either call their customer support and ask for a better explanation or what I do in my finances, avoid things I don't understand.
Traders sometimes look at the depth of the book (number of outstanding limit orders) to try and gauge the sentiment of the market or otherwise use this information to formulate their strategy.  If there was a large outstanding buy order at $49.50, there's a decent chance this could increase the price by influencing other traders. However, a limit order at $2 is like an amazon.com price of $200,000 for a book.  It's so far away from realistic that it is ignored.  People would think it is an error. Submitting this type of order is perfectly legal.  If the stock is extremely thinly traded, it might even be encouraged because if someone wanted to sell a bunch and did a really bad job of it, the price could conceivably fall that far and the limit order would be adding liquidity.  I guess.  Your example is pretty extreme. It is not uncommon for there to be limit orders on the book that are not very close to the trading price.  They just sit around.  The majority of trades are done by algorithmic traders and institutional traders and they don't tend to do this, but a retail investor may choose to submit an order like that, just hoping against hope. Also, buy orders are not likely to push prices down, no matter what their price is.  A sell order, yes (even if it isn't executed).
This sometimes happens to me. It depends on how liquid the option is. Normally what I see happening is that the order book mutates itself around my order. I interpret this to mean that the order book is primarily market makers. They see a retail investor (me) come in and, since they don't have any interest in this illiquid option, they back off. Some other retail investor (or whatever) steps in with a market order, and we get matched up. I get a fill because I become the market maker for a brief while. On highly liquid options, buy limits at the bid tend to get swallowed because the market makers are working the spread. With very small orders (a contract or two) on very liquid options, I've had luck getting quick fills in the middle of the spread, which I attribute to MM's rebalancing their holdings on the cheap, although sometimes I like to think there's some other anal-retentive like me out there that hates to see such a lopsided book. :) I haven't noticed any particular tendency for this to happen more with puts or calls, or with buy vs sell transactions. For a while I had a suspicion that this was happening with strikes where IV didn't match IV of other strikes, but I never cared enough to chase it down as it was a minor part of my overall P/L.
"You said your strategy was to put it into a index fund.  But then you asked about setting  stock limits.   I'm confused. Funds usually trade at their price at the end of the day, so you shouldn't try to time this at all. Just place your order. If you are buying ETFs, there is going to be so much volume on the market that your small trade is going to have no impact on the price. You should just place a market order. A market order is an order to buy or   sell a stock at the current market   price. A limit order is an order to buy or   sell a security at a specific price. In the US, when you place a trade with any broker, you can either place a limit order or a market order.  A market order just fills your order with the next best sellers in line.  If you place an order for 100 shares, the sellers willing to sell 100 shares at the lowest price will be matched with your order (sometimes you may get 50 shares at one price and 50 shares at a slightly different price).    If your stock has a lot of volatility and you place a market order for a small amount of shares,  you will get the best price. If you place a limit order, you specify the price at which you want to buy shares.  Your order will then only be filled with sellers willing to sell at that price or lower (i.e. they must be at least as good as you specified).  This means you could place an order at a limit that does not get filled (the stock could move in a direction away from your limit price).  If you really want to own the stock, you shouldn't use a limit order.  You shouldn't only use a limit order if you want to tell your broker ""I will only buy this stock at this price or better.""  p.s. Every day that passes is NOT a waste.  It's just a day that you've decided investing in cash is safer than investing in the market."
"There needs to be a buyer of the shares you are offering.  There are a lot of feature rich options for buying and selling.  I don't understand them all in depth, but for example on TD Ameritrade here are some of the order types ""Limit"", ""Market"", ""Stop Market"", ""Stop Limit"", ""Trailing Stop %"", ""Trailing Stop $"".  This web page will explain the different order types https://invest.ameritrade.com/cgi-bin/apps/u/PLoad?pagename=tutorial/orderTypes/overview.html Stock with a higher volume will allow your trade to execute faster, since there are more frequent trades than stocks with lower volume. (UPDATE: More specifically, not more frequent trades, but more shares changing hands.) I'm a bit of a noob myself, but that's what I understand."
I have done this, and the reason is to make sure that I don't run out of money in my account to place the order if there is an unexpected upswing in price. Suppose I have $1000 in my account and I want to buy 10 shares of ABCD that are currently at $99.  If the price doesn't change, then I am all set, but if the price goes up to $101 then I don't have sufficient funds to make the purchase. By placing a limit order at $100 I can ensure that I have enough money to place the order. In general, it is a rather unlikely scenario that it could happen, but placing the limit order is easy to do and it gives me peace of mind. I don't know what you mean about bypassing the queue.