Opening Order Question

Discussion in 'Trading' started by joer, Jul 18, 2012.

  1. joer



    Please assist me in my knowledge growth if you can. I traded market order at 10min before open today for VVUS. It filled at the price of $30.33 (100 shares) 0.3 less then the official Nasdaq opening price. TD Ameritrade doesn't have an office MOO order so that is their version of that I guess.

    Scenario: If I would have put a limit order trigger in after the fill to sell at $30.50, and the time and sales information 'would' have showed that sale (time & sales) of $30.50 for 100 shares two minutes later, would I have been 'guranteed' that fill price? I'm trying to understand the limit order dynamics.

    Thanks in Advance.
  2. joer


    Anyone can reply....any takers..hello...anyone?

    Just post something irrelevant and stupid.
  3. 1245


    you have to make sure your MOO and MOC orders are only sent to the primary exchange.
  4. If I understand well... You bought 100 shares with a market order and got a fill at 30.30. The after that you place a limit order to sell at 30.50. If you see a 100 shares at 30.50 it does not mean that they where yours. When you place your order it is placed into a first in first out queue so you can see prints at 30.50 without being filled. But if you have a limit at 30.50 you will get that price or better, not lower unless you place a market if touched.
  5. joer


    Exactly what I was looking for Total_Keops

    I'm trying to verify a market on open strategy wherein I purchased said 100 shares at market on open that (once filled) would automatically trigger the limit order to sell $0.50 cents above the purchase. Because within the first few minutes the time/sales information is so crazy, I was curious if it ever hit's that 30.50 even once, I would be guaranteed that price on a limit order.