Hi guys. I have set up a trading system where i receive email signals of which/how many shares to buy at a particular days open. I have some questions around limit day orders (buy and sell).
When a limit day buy order is placed, you can choose the price you want to buy the share for. I have found through research that limit day buy orders only fill at market price or better (cheaper). If you want to get your order filled first to prevent slippage, you can put in a limit order above the market price but i have found that it the stocks settle back at market price.
The same thing seems to happen for limit sell orders in reverse.
Question: Wondering if you can explain how limit orders actually work and get filled – this would shed some light on how to submit orders out of market hours effectively.