Hi I'm still getting familiar with using elitetrader to post potential questions. I'm making this thread, maybe this is the way to ask a question to be answered for day trading help. If there is an other way to post please let me know. Anyway, here are my questions to Day Traders regarding this issue. * (Before I open an online brokerage account and/or a simulation, I am seeking to know about this issue). 1) Say for example a stock is at $55.53 during the trading day, and a trader wants to purchase 2000 shares of that stock close to that price, and that stock is gradually rising within that time frame during that day. The trader puts in a buy market order to purchase that stock as it is gradually rising when it was last trading @ 55.53. Since that stock is gradually rising in price, and because, let's say for example, 2000 shares aren't being sold together by a seller, but instead the sellers are being made available at: 500 shares @ 55.54, 500 shares @ 55.55, 400 shares @ 55.56, 100 shares @ 55.57, 200 shares @ 55.58, 200 shares @ 55.59, 25 shares @ 55.57, 25 shares @ 55.59, 20 shares @ 60.00, 20 shares @ 60.01, 5 shares @ 60.02, 5 shares @ 60.01, and the trader makes the market order and the brokerage platform purchases 2000 shares in such sequence of prices because the stock wasn't being sold in 2000 shares all at once. I have the following concerns: 1a) With a usual online brokerage platform for stock trading, will the purchase of the 2000 shares show up on the screen as one single purchase even though the shares were bought at different prices or will it show on the screen as 12 separate purchases to deal with in case the trader wants to sell them? 1b) Say for example, that stock is trading @ 65.04 in exactly one month since that trader bought those 2000 shares, and he wants to sell all 2000 shares in that same day, close to the current price of 65.04 in a particular time frame of that trading day, the way a usual online brokerage platform works, can the trader sell those 2000 shares bought at various prices as one singular unit or will he have to sell each of the 12 sets of shares separately during that time frame of sale of that day and each of those sets could potentially be sold into further sets of prices if the stock price is decreasing or increasing during the moment of sale of each set? Thank you.
On IB, a single purchase is shown with all the smaller purchases line-itemed inside, i.e. the total order was 2k, but it can expand to show the smaller parts. It will show up in your portfolio as 1 position with the average purchase price calculated. You should familiarize yourself with limit orders and the bid/ask spread, unless you like dealing with such hypothetical market order slippage.