Hehe, sorry, I should've mentioned that I didn't REALLY process the order. I just tried it to see how it works. I'm still a little confused. So I put a limit price on the current ask price. Will I be able to purchase shares right away (after-hour)? Or will my stock be purchased during the next day's opening IF the market price is my buy limit. And if the market price is over my limit, then it won't buy it.
Theoretically yes. It depends on how many shares are at the current ask. If someone is offering only 100 shares at the ask and you want to buy 500 shares then you have to hope someone else will sell some shares at the same price, whereas if you want to buy 100 and they want to sell 500 you will most likely be filled as long as there were no more than 400 shares bid in front of you. It's always first come first serve.
I will post my experience with after hours trading. You can place a market order although you will be filled at the ask price and if you sell with a market order you will get bid price. If you know what you are doing you can make a few pennies here and there. Just be careful you want some volume or you may not get filled. Just watch time and sales that will let you know what kind of volume is coming into the stock. Traderdave
no reputable broker will let you place a market order in the after hour session. if someone will foolishly let you submit a market order you will be filled at prices progressively away from the market. the above post is one of the most foolish and dangerous ever posted. just ignore the completely false information
As far as I know it can't be done even if you wanted to do so. If there is no market maker or specialist, how in the world could you place a market order?