Posted 3 months, 0 days ago.
My First TradingMarkets.com Article: Limit vs. Market Orders
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.
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Sept 4 | COIN | $5.70 | $6.21 | $745 |
| Sept 3 | COIN | $6.49 | $6.30 | $305 |
| Sept 3 | COINW | $2.75 | $2.85 | $180 |
| Sept 2 | TAYD | $7.51 | $8.13 | $545 |
| Aug 18 | FOUR | $2.80 | $2.66 | $342 |
| Aug 14 | APII | $2.66 | $3.30 | $1261 |
| Aug 12 | APII | $3.25 | $3.40 | $285 |
| Aug 7 | NOBL | $5.02 | $5.49 | $680 |
Total: $26,508 (
114%)
1Simonyadig
June 9th, 2008 at 1:04 pm
Watching TAMO for a breakout on a move past 3.10 (all time high).
2Simonyadig
June 9th, 2008 at 1:06 pm
Preferably a close past 3.1 on TAMO to really confirm it.
3Tony Ellis(TIMBUCKS: $128)
June 9th, 2008 at 1:08 pm
My internet has been down. Did I miss anything?
4Kris(TIMBUCKS: $66)
June 9th, 2008 at 1:15 pm
Tim, i do not recall your opinion on volume…for example, LBAS is so low. BTW you are so funny….”market orders are evilllllllllll…more evilllllll than SEC bin Laden…well, actually it’s a toss up.”
5Kris(TIMBUCKS: $66)
June 9th, 2008 at 1:17 pm
Tony, unless u where holding ISPH from friday u have not missed much. Unless i missed something?? lol
6Tony Ellis(TIMBUCKS: $128)
June 9th, 2008 at 1:17 pm
CPSL looks like it tanked nicely. SOLF is looking weak but it’s a scary stock.
7Kris(TIMBUCKS: $66)
June 9th, 2008 at 1:22 pm
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’s estimated heavy oil reserve to. . .blah, blah, blah
I hope this is not why u are watching it?? Don’t fall for that junk.
8Kris(TIMBUCKS: $66)
June 9th, 2008 at 1:24 pm
i forgot about CPSL. It almost touched support (4.71)and then bounced to 4.83, now up/down a few cents.
9Tony Ellis(TIMBUCKS: $128)
June 9th, 2008 at 1:30 pm
CPSL- I would have covered by now.
10JeffMoates(TIMBUCKS: $258)
June 9th, 2008 at 1:41 pm
Covered my $4.95 CPSL at $4.77 just a second ago.
11JeffMoates(TIMBUCKS: $258)
June 9th, 2008 at 1:43 pm
I’m bored as F&^$
12Tony Ellis(TIMBUCKS: $128)
June 9th, 2008 at 1:52 pm
short 1k solf@ 19.80
13timothysykes
June 9th, 2008 at 1:58 pm
this is the kind of day u take off and enjoy outside, no good plays, just scalps
14JeffMoates(TIMBUCKS: $258)
June 9th, 2008 at 2:00 pm
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.
15be-the-ball(TIMBUCKS: $81)
June 9th, 2008 at 2:00 pm
ok, than why are you pale as a ghost timmay?
16trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 2:05 pm
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.
17Alex
June 9th, 2008 at 2:06 pm
AAPL - Great example of suckers getting their $180 stops triggered and eaten up!
18trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 2:08 pm
haha ya, too funny
19ivegotstylekid(TIMBUCKS: $189)
June 9th, 2008 at 2:11 pm
yea scalps galore, figures i dont have to work this morning and the trading day sucks
20Alex
June 9th, 2008 at 2:14 pm
Is apple doing their conference already? I’m seeing a lot of newswire stuff on them. IPhone to be release early July.
21Rambone
June 9th, 2008 at 2:15 pm
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.
22monkiman
June 9th, 2008 at 2:17 pm
ROYL beautiful today…. slow fading action from 8.75ish, now @ 8.48ish
23Ryan
June 9th, 2008 at 2:18 pm
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?
24trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 2:19 pm
Oversold? Be careful with SOLF though, it has a history of irrational volatility.
25YoungGunz(TIMBUCKS: $253)
June 9th, 2008 at 2:21 pm
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.
26Tony Ellis(TIMBUCKS: $128)
June 9th, 2008 at 2:21 pm
Rambone I’ll buy your shares at $19…lol
27Rambone
June 9th, 2008 at 2:29 pm
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.
28lmsmith
June 9th, 2008 at 2:29 pm
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…
29lmsmith
June 9th, 2008 at 2:32 pm
SOLF ~>>>> Very irrational stock… good luck with that- I wouldn’t buy until it goes back down to $12
30Tony Ellis(TIMBUCKS: $128)
June 9th, 2008 at 2:35 pm
Covered at 19.60….too scary for me!
31Alex
June 9th, 2008 at 2:39 pm
Jobs says iPhone approaches WiFi speeds…damn, I want it!
32simonyadig
June 9th, 2008 at 2:42 pm
Kris, I treat every play like a pump and dump and I go by the charts only.
33trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 2:44 pm
Wonder if I can scalp AAPL for a few hundred by the end of the day, the movement looks fairly predictable.
34Rambone
June 9th, 2008 at 2:44 pm
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.
35trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 2:51 pm
That was an easy $230 on AAPL, look at the fluctuation between 184-181.xx
36trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 2:56 pm
Pretty soon we’ll take it back on the way up for another few hundred
37Rambone
June 9th, 2008 at 3:06 pm
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.
38getshorty
June 9th, 2008 at 3:10 pm
Shorted NYNY at 2.46, wondering whether to cover or to wait until it is closer to $2 resistance……choices… choices….
39trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 3:24 pm
Are you sane? That’s an easy cover.
40trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 3:24 pm
What broker had shares of NYNY to short?
41getshorty
June 9th, 2008 at 3:27 pm
I shorted 40 minutes ago with interactive brokers.
Are you looking to short at this level? (2.17 price?)
42getshorty
June 9th, 2008 at 3:28 pm
Also shorted cpsl at average 8.87… about to cover out of boredom….
43jdubya(TIMBUCKS: $9)
June 9th, 2008 at 3:44 pm
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!
44Rambone
June 9th, 2008 at 3:46 pm
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.
45trader@MIT(TIMBUCKS: $164)
June 9th, 2008 at 4:03 pm
No, I would never touch it as this level. I was looking to short thursday and TOS did not have any shares to lend.
46timothysykes
June 9th, 2008 at 4:04 pm
new post:
http://www.timothysykes.com/20.....cnbc-host/
47getshorty
June 9th, 2008 at 4:07 pm
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.
48Richard
June 9th, 2008 at 6:51 pm
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 :)
49timothysykes
June 9th, 2008 at 8:09 pm
new post:
http://www.timothysykes.com/20.....oes-splat/
50cash(TIMBUCKS: $106)
June 10th, 2008 at 12:46 am
Thanks for the great artivle on market v limit. I know that helped a lot of newbies out.