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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: Steve Grabczyk who wrote (9942)1/11/2000 7:28:00 AM
From: OldAIMGuy  Read Replies (2) of 18928
 
Hi Steve, What he told you is true. Also, it matters (when you are selling) that the price trades with the BID side at your sell price. There always has to be the BID/ASK spread, and they won't fill your order if it's on the wrong side. So there has to be an ASK order in above what your Sell order price is in order to get the fill. The reverse is true when buying.

That said, the longer your order sits there at a specific price, the closer to the "top of the pile" it rises. Yes, I've had my orders fill at the very high and very low for the day when my GTC's have been in a long time. It's like they want to clear it from the books, or something.

Check this out! The other day when I was buying GNSS, I'd not specified All Or Nothing. This was only a 100 share order, so that hardly mattered. The TRADE came through broken! 27 shares in one piece and 73 in another!! In all my years this is the first time anyone's ever split a 100 share order. Since it all happened in the same trading day, at least its only a single commission!!!

Best regards, Tom
PS: There will be another day when it works in your favor!
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