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My First TradingMarkets.com Article: Limit vs. Market Orders

June 9, 2008 at 12:32 pm
by timothysykes

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Lots and lots of people have asked me about limit vs. market orders so I finally got around to writing a detailed post on the subject. Since this topic extends far beyond that of pennystocking in importance, I decided to publish it on TradingMarkets.com…which is an overwhelmingly solid trading information resource…they liked it enough to put it as their top article with my pic all day Sunday (thanks guys, I’m honored!)…and you can view it HERE!

Hope this helps you newbies out there, market orders are evilllllllllll…more evilllllll than SEC bin Laden…well, actually it’s a toss up.

Posted in Basics, Safe Trades

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  • http://www.hotstockmarket.com/forums/showthread.php?t=53956&highlight=simons Simonyadig

    Watching TAMO for a breakout on a move past 3.10 (all time high).

  • http://www.hotstockmarket.com/forums/showthread.php?t=53956&highlight=simons Simonyadig

    Watching TAMO for a breakout on a move past 3.10 (all time high).

  • http://www.hotstockmarket.com/forums/showthread.php?t=53956&highlight=simons Simonyadig

    Preferably a close past 3.1 on TAMO to really confirm it.

  • http://www.hotstockmarket.com/forums/showthread.php?t=53956&highlight=simons Simonyadig

    Preferably a close past 3.1 on TAMO to really confirm it.

  • Tony Ellis

    My internet has been down. Did I miss anything?

  • Tony Ellis

    My internet has been down. Did I miss anything?

  • Kris

    Tim, i do not recall your opinion on volume…for example, LBAS is so low. BTW you are so funny….”market orders are evilllllllllll

  • Kris

    Tim, i do not recall your opinion on volume…for example, LBAS is so low. BTW you are so funny….”market orders are evilllllllllll

  • Kris

    Tony, unless u where holding ISPH from friday u have not missed much. Unless i missed something?? lol

  • Kris

    Tony, unless u where holding ISPH from friday u have not missed much. Unless i missed something?? lol

  • Tony Ellis

    CPSL looks like it tanked nicely. SOLF is looking weak but it’s a scary stock.

  • Tony Ellis

    CPSL looks like it tanked nicely. SOLF is looking weak but it’s a scary stock.

  • Kris

    Hey Simonyadig, I just got a spam from TAMO …..Tamm Oil and Gas (OTCBB: TAMO) set to move higher on 2 blockbuster announcements:

    First
    An independent engineering report has just raised the company

  • Kris

    Hey Simonyadig, I just got a spam from TAMO …..Tamm Oil and Gas (OTCBB: TAMO) set to move higher on 2 blockbuster announcements:

    First
    An independent engineering report has just raised the company

  • Kris

    i forgot about CPSL. It almost touched support (4.71)and then bounced to 4.83, now up/down a few cents.

  • Kris

    i forgot about CPSL. It almost touched support (4.71)and then bounced to 4.83, now up/down a few cents.

  • Tony Ellis

    CPSL- I would have covered by now.

  • Tony Ellis

    CPSL- I would have covered by now.

  • JeffMoates

    Covered my $4.95 CPSL at $4.77 just a second ago.

  • JeffMoates

    Covered my $4.95 CPSL at $4.77 just a second ago.

  • JeffMoates

    I’m bored as F&^$

  • JeffMoates

    I’m bored as F&^$

  • Tony Ellis

    short 1k solf@ 19.80

  • Tony Ellis

    short 1k solf@ 19.80

  • http://www.test.timothysykes.com timothysykes

    this is the kind of day u take off and enjoy outside, no good plays, just scalps

  • http://www.test.timothysykes.com timothysykes

    this is the kind of day u take off and enjoy outside, no good plays, just scalps

  • JeffMoates

    That sucks Tim cause the alternative to trading is actually doing work at my job. BOO!!!

    Tony, nice entry on SOLF. Amazing how you caught it on that downturn.

  • JeffMoates

    That sucks Tim cause the alternative to trading is actually doing work at my job. BOO!!!

    Tony, nice entry on SOLF. Amazing how you caught it on that downturn.

  • be-the-ball

    ok, than why are you pale as a ghost timmay?

  • be-the-ball

    ok, than why are you pale as a ghost timmay?

  • trader@MIT

    Seriously, today is rather upsetting. I’m about to cover on FAC, but I have been holding that since Thursday. I couldn’t find a decent play all day.

  • trader@MIT

    Seriously, today is rather upsetting. I’m about to cover on FAC, but I have been holding that since Thursday. I couldn’t find a decent play all day.

  • Alex

    AAPL – Great example of suckers getting their $180 stops triggered and eaten up!

  • Alex

    AAPL – Great example of suckers getting their $180 stops triggered and eaten up!

  • trader@MIT

    haha ya, too funny

  • trader@MIT

    haha ya, too funny

  • http://www.getflashmedia.com ivegotstylekid

    yea scalps galore, figures i dont have to work this morning and the trading day sucks

  • http://www.getflashmedia.com ivegotstylekid

    yea scalps galore, figures i dont have to work this morning and the trading day sucks

  • Alex

    Is apple doing their conference already? I’m seeing a lot of newswire stuff on them. IPhone to be release early July.

  • Alex

    Is apple doing their conference already? I’m seeing a lot of newswire stuff on them. IPhone to be release early July.

  • Rambone

    Cover NYNY at 2.35 from 2.75 short. Dropped heavy today so taking profits before target to secure.

    Buying SOLF here at 19.45 with a 19 stop loss. Solars are oversold with OIL at these levels.

  • Rambone

    Cover NYNY at 2.35 from 2.75 short. Dropped heavy today so taking profits before target to secure.

    Buying SOLF here at 19.45 with a 19 stop loss. Solars are oversold with OIL at these levels.

  • monkiman

    ROYL beautiful today…. slow fading action from 8.75ish, now @ 8.48ish

  • monkiman

    ROYL beautiful today…. slow fading action from 8.75ish, now @ 8.48ish

  • Ryan

    Rambone, can’t understand your strategy, SOLF can take your stop loss of $19 in a heartbeat and move back to 20 or higher, then what?

  • Ryan

    Rambone, can’t understand your strategy, SOLF can take your stop loss of $19 in a heartbeat and move back to 20 or higher, then what?

  • trader@MIT

    Oversold? Be careful with SOLF though, it has a history of irrational volatility.

  • trader@MIT

    Oversold? Be careful with SOLF though, it has a history of irrational volatility.

  • YoungGunz

    Yeah I scalped 1000 shares of PARD. Got in on a mini peak and let it go for a .30/share profit. Nothing big brought me back into the green when I jumped to gun in the open with PTEK and covered late.

  • YoungGunz

    Yeah I scalped 1000 shares of PARD. Got in on a mini peak and let it go for a .30/share profit. Nothing big brought me back into the green when I jumped to gun in the open with PTEK and covered late.

  • Tony Ellis

    Rambone I’ll buy your shares at $19…lol

  • Tony Ellis

    Rambone I’ll buy your shares at $19…lol

  • Rambone

    Tony,

    LOL. GL to both of us. You’re already in the green.

    Ryan,
    The stop losses were triggered at the 20 break. That was support and it melted away. Should get some type of bounce. If it does take my 19 then good riddance. Have no problem eating a small loss.

    Trader,
    SOLF is definitely a mover that’s for sure. Daytraders and hedgies love this stock.

  • Rambone

    Tony,

    LOL. GL to both of us. You’re already in the green.

    Ryan,
    The stop losses were triggered at the 20 break. That was support and it melted away. Should get some type of bounce. If it does take my 19 then good riddance. Have no problem eating a small loss.

    Trader,
    SOLF is definitely a mover that’s for sure. Daytraders and hedgies love this stock.

  • lmsmith

    TiM I posted earlier about PINN afternoon fade- and when I posted the stock just hit its high of the day— and it did exactly what I thought it would- faded……
    SMH– I am mad for my self for not playing…

  • lmsmith

    TiM I posted earlier about PINN afternoon fade- and when I posted the stock just hit its high of the day— and it did exactly what I thought it would- faded……
    SMH– I am mad for my self for not playing…

  • lmsmith

    SOLF ~>>>> Very irrational stock… good luck with that- I wouldn’t buy until it goes back down to $12

  • lmsmith

    SOLF ~>>>> Very irrational stock… good luck with that- I wouldn’t buy until it goes back down to $12

  • Tony Ellis

    Covered at 19.60….too scary for me!

  • Tony Ellis

    Covered at 19.60….too scary for me!

  • Alex

    Jobs says iPhone approaches WiFi speeds…damn, I want it!

  • Alex

    Jobs says iPhone approaches WiFi speeds…damn, I want it!

  • http://www.hotstockmarket.com/forums/showthread.php?t=53956&highlight=simons simonyadig

    Kris, I treat every play like a pump and dump and I go by the charts only.

  • http://www.hotstockmarket.com/forums/showthread.php?t=53956&highlight=simons simonyadig

    Kris, I treat every play like a pump and dump and I go by the charts only.

  • trader@MIT

    Wonder if I can scalp AAPL for a few hundred by the end of the day, the movement looks fairly predictable.

  • trader@MIT

    Wonder if I can scalp AAPL for a few hundred by the end of the day, the movement looks fairly predictable.

  • Rambone

    Imsmith- good work on PINN. I remember your call to short at 2.80. Everyone has their own style which is the beauty of trading. What I love others hate and vice versa. All comes down to making a profit.

    I’m in TSL at 40. Another oversold solar. Sector rotation back to solars tomorrow IMO.

  • Rambone

    Imsmith- good work on PINN. I remember your call to short at 2.80. Everyone has their own style which is the beauty of trading. What I love others hate and vice versa. All comes down to making a profit.

    I’m in TSL at 40. Another oversold solar. Sector rotation back to solars tomorrow IMO.

  • trader@MIT

    That was an easy $230 on AAPL, look at the fluctuation between 184-181.xx

  • trader@MIT

    That was an easy $230 on AAPL, look at the fluctuation between 184-181.xx

  • trader@MIT

    Pretty soon we’ll take it back on the way up for another few hundred

  • trader@MIT

    Pretty soon we’ll take it back on the way up for another few hundred

  • Rambone

    PTEK is tomorrows NYNY. Charts don’t lie.

    Out of SOLF at 19.36 for a small loss. About to crater the 19.50 support. I’ll buy it if it crosses 20 tomorrow.

  • Rambone

    PTEK is tomorrows NYNY. Charts don’t lie.

    Out of SOLF at 19.36 for a small loss. About to crater the 19.50 support. I’ll buy it if it crosses 20 tomorrow.

  • getshorty

    Shorted NYNY at 2.46, wondering whether to cover or to wait until it is closer to $2 resistance……choices… choices….

  • getshorty

    Shorted NYNY at 2.46, wondering whether to cover or to wait until it is closer to $2 resistance……choices… choices….

  • trader@MIT

    Are you sane? That’s an easy cover.

  • trader@MIT

    Are you sane? That’s an easy cover.

  • trader@MIT

    What broker had shares of NYNY to short?

  • trader@MIT

    What broker had shares of NYNY to short?

  • getshorty

    I shorted 40 minutes ago with interactive brokers.

    Are you looking to short at this level? (2.17 price?)

  • getshorty

    I shorted 40 minutes ago with interactive brokers.

    Are you looking to short at this level? (2.17 price?)

  • getshorty

    Also shorted cpsl at average 8.87… about to cover out of boredom….

  • getshorty

    Also shorted cpsl at average 8.87… about to cover out of boredom….

  • jdubya

    Tim, Thanks for the TWTI long call (last week?). Now if I can only start learning how to short. I think that this kind of strategy may be one of the few ways to consistently make money in a market like this. I’ve got a friend who manages a hedge fund and likened the market to a “schizophrenic friend” since last month. He’s a value oriented guy, but even those stocks aren’t reliable in this market. Bought one of his stocks (TDG), and it fell 12% the same day I bought it on Friday. Gotta learn how to short!

  • jdubya

    Tim, Thanks for the TWTI long call (last week?). Now if I can only start learning how to short. I think that this kind of strategy may be one of the few ways to consistently make money in a market like this. I’ve got a friend who manages a hedge fund and likened the market to a “schizophrenic friend” since last month. He’s a value oriented guy, but even those stocks aren’t reliable in this market. Bought one of his stocks (TDG), and it fell 12% the same day I bought it on Friday. Gotta learn how to short!

  • Rambone

    Buying more TSL at 40.20. It’s holding support. Very bullish sign if it can close above 40. Should be good for 2 points upside tomorrow. All solars bouncing from lows.

  • Rambone

    Buying more TSL at 40.20. It’s holding support. Very bullish sign if it can close above 40. Should be good for 2 points upside tomorrow. All solars bouncing from lows.

  • trader@MIT

    No, I would never touch it as this level. I was looking to short thursday and TOS did not have any shares to lend.

  • trader@MIT

    No, I would never touch it as this level. I was looking to short thursday and TOS did not have any shares to lend.

  • http://www.test.timothysykes.com timothysykes
  • http://www.test.timothysykes.com timothysykes
  • getshorty

    TOday shorted CPSL at average 4.87 covered close to the bell at 4.84, barely to pay for the commissions.

    NYNY 500 shares shorted at 4.46, 400 covered at 2.23 100 covered at 2.33 Should have covered on th 2.15 area, but was waiting for them to test support in the $2 area, never happened.

    2300 shares of UOMO shorted on fiday average 0.64, covered 500 today at 0.54. THis one should drop gradually as all doubling stocks picks after the discontinue pumping.

  • getshorty

    TOday shorted CPSL at average 4.87 covered close to the bell at 4.84, barely to pay for the commissions.

    NYNY 500 shares shorted at 4.46, 400 covered at 2.23 100 covered at 2.33 Should have covered on th 2.15 area, but was waiting for them to test support in the $2 area, never happened.

    2300 shares of UOMO shorted on fiday average 0.64, covered 500 today at 0.54. THis one should drop gradually as all doubling stocks picks after the discontinue pumping.

  • http://hedgeagainstspeculation.com Richard

    Heys this is Richard from http://hedgeagainstspeculation.com, I`d like to invite you to participate in our “Cooly Amazing Contest” which ends June 15th. To sum it up you can win prize packages worth over $275…there are a total of 20 prizes to be won and anyone can enter. It`s simply a random draw, and entering takes little to no time. Feel free to go to my website and click on the “Cooly Amazing Contest” banner for details :)

  • http://hedgeagainstspeculation.com Richard

    Heys this is Richard from http://hedgeagainstspeculation.com, I`d like to invite you to participate in our “Cooly Amazing Contest” which ends June 15th. To sum it up you can win prize packages worth over $275…there are a total of 20 prizes to be won and anyone can enter. It`s simply a random draw, and entering takes little to no time. Feel free to go to my website and click on the “Cooly Amazing Contest” banner for details :)

  • http://www.test.timothysykes.com timothysykes
  • http://www.test.timothysykes.com timothysykes
  • cash

    Thanks for the great artivle on market v limit. I know that helped a lot of newbies out.

  • cash

    Thanks for the great artivle on market v limit. I know that helped a lot of newbies out.

  • Andy Dearden

    TIM how do u abuse buying power??? and do they suspend ur account if u trade more than 3 day in a rolling 5 day period…. what will happen?

  • Andy Dearden

    TIM how do u abuse buying power??? and do they suspend ur account if u trade more than 3 day in a rolling 5 day period…. what will happen?

  • http://www.test.timothysykes.com/adilip/2008/07/07/tim-june-monthly-review-its-satisfying-to-earn-14-when-most-others-lose/ TIM June Monthly Review: It’s Satisfying To Earn 14% When Most Others Lose | TIM – Timothy Sykes

    [...] Limit vs. market orders Reserving shares of hard-to-borrow stocks [...]

  • http://www.test.timothysykes.com/adilip/2008/07/07/tim-june-monthly-review-its-satisfying-to-earn-14-when-most-others-lose/ TIM June Monthly Review: It’s Satisfying To Earn 14% When Most Others Lose | TIM – Timothy Sykes

    [...] Limit vs. market orders Reserving shares of hard-to-borrow stocks [...]