The market opens 8am and ends 2pm (I live in Colorado) my problem is that the market hours don’t fit my work schedule. I’m not looking to day trade, but I’m looking to buy/sell 10 times a month on average. I’ve read books, done ton of research and all of the above pretty much. So I don’t want to do extended hours trading because the spread and volume is all wacky. So is there away I can buy/sell at the market close price the next morning and then have it executed when the market opens? Or can I do it at night? Also if my way doesn’t work can you give me an alternative?
Thanks
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2 Comments on “stock market trading?”
Steve T 18th February 2010
Yes, two ways.
1. PROBABLY BETTER: Set a limit order. You can make it good till cancelled (doesn’t expire) or a day order (expires at the end of the day). Enter for your limit price the MAXIMUM you want to pay for that stock (kind of like eBay). If the price of the stock is, intraday or at the open, EQUAL TO or BELOW the price you set as your limit, the order will trigger and it will attempt to fill for as many shares that are out there at that price. ALL of my orders are limit orders, and I live on the east coast. They’re much better than market orders because you can pick the price you’re buying at, or even get a better deal. Sweet.
2. Alternatively, set a good till cancelled (so it won’t expire overnight by mistake) market order (market order means buy at the current market price) the night before; this will buy as soon as the market opens (9:30 EST) and at whatever price it opens at (you can’t buy at the CLOSE price as you say, but if the stocks don’t trade after hours very much, you’ll probably get pretty close to yesterday’s close).
Good luck!
marisa 18th February 2010
if you do it at night, when the market opens, the trade will be completed once received. once market is closed, you are requesting at market price, unless buying at selected price, in which trade, purchase will be executed as you have put in your order.