Jargon question here. We HIT the bid We TAKE the offer ... or LIFT the best offer What do we do to an Ask???
I'm a bit unsure of some of those usages, but I've heard "sit on the ask" used (although "sit on the bid" seems to be much more common.)
FILL at the ASK. (Ask means "asking price" so you fill the ask or get filled at the ask, close at or get closed at the ask). -edit
Hit the bid. Lift the offer (or ask). When we hit the bid (to open a position) we are selling in the expectation that price will fall. You hit something in the hope that it falls. When we lift the offer (or ask… to open a position) we are selling in the expectation that price will rise. We lift things to make them go higher. The passive limit orders on the other side of these trades are of course taking the opposite view. When a sell market order hits the bid, the corresponding passive buy limit order is BIDding price X for quantity Y. When a buy market order lifts the offer, the corresponding passive sell limit order is offering/asking quantity X at price Y. Passive buyers bid a price for quantity. Passive sellers offer a quantity at a price.
Bid: given, hit. Yours. Offer/ask: paid, taken. Mine. "Lifted" makes me think of the entire volume on the inside offer being paid. Eg, "10s lifted, bid on."
Get in with a limit out with a market for intraday (MNQ)..if you miss your entry oh...well...but you gotta get out. The politicians can teach you something. Trading against others can be deciving. Trust price.
%% Same thing #2;ask=offer, aka ask price I think you understand that. Sure, ESavant, i agree, try to get in with a limit order; but dont quibble over a quarter + miss the move.LOL-true.
In the english language BID and OFFER are interchangable, so why is the ASK called OFFER? This has always struck me as odd. Can you shed some light on that for me perhaps