stupid day trading question

Discussion in 'Trading' started by konviction, Mar 1, 2010.

  1. In the pre-market. If the highest ask is 10 and I place a bid (limit order) at 10.01, am i going to get an instant fill or does someone have to adjust their order to 10.01 to fill me? ... also this would raise the price, by paying the ask, or above it slightly...why dont people do this, to help push the stock up past a major resistance or support level, but taking out all the orders at a certain level, that would prevent price from reaching their objective?
  2. ?
  3. gaj


    there is no obligation to fill in pre-mkt.

    (edit: ECNs are 'legit')
  4. Bob111


    you should be filled @ 10.but-there many variables that may or may not affect already been mentioned above. another would be size,exchange and other order options.if you have odd order you may not get filled @ any price. if you route your order to a diferent ECN or your broker does not have a access to ECN where seller selling his shares at 10-no fill. if seller have elected all or nothing and selling 500 shares,but you need only a 100-no fill. and so on

    not necessarily. it may raise asking price(assuming that you have bought ALL shares @ ask and seller is displaying all his shares and there is no other sellers at this price with hidden orders.

    i was thinking about something like this in premarket..create trading activity,that may(or may not) trigger other players stops-then you pick those shares, but imo it's a dream for retailer in current environment