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I still don't understand why anyone would put in a "sell at any price" order. If you sold Accenture at one cent because you put in such an order, well, you boug
by hugh3 17y ago
I still don't understand why anyone would put in a "sell at any price" order. If you sold Accenture at one cent because you put in such an order, well, you bought yourself a lesson to not do that.
- andr 17y agoStandard trading systems have stoploss orders (sell if price < X), which don't have an option for a lowest price at which to sell.
- cschneid 17y agoBecause they are treated differently on the market. Market orders (sell at any price) are handled first, and then, limit orders are. You can only guarantee one thing: either execution, or a price level. And when you're dealing with stop losses, you want to guarantee the execution in most cases.
- cschneid 17y agoAlso note that any reasonable broker has both StopLoss and StopLimit orders. Where it's either a market, or limit order that only gets triggered when the price goes to a certain level. (you can stop up too. "Buy if price goes above X", useful for closing short sales, or just getting on a bandwagon).
- hugh3 17y agoAh, thankyou. That makes a lot more sense now.