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I was burned with market orders before and I swear that I will never use it ever again. Limit orders are the key to saving money when investing. What I do now is set a limit and if it doesn’t get executed, then I just wait. There are always another opportunity and I will never overpay for an investment again!
I’ve learned my ways! Good post for everyone else who hasn’t gotten burned yet.
I agree completely! I just bought 150 shares of Altria today and as I was about to put in an order, I saw the price jump from $14.50 to $14.59 within 30 seconds. If I put in a market order, it probably would’ve executed around the higher end. Instead, I put in a limit order of $14.50 and waited and after about 15 minutes, it got executed!
The differences isn’t big (only $13.50) for only 150 shares but I will take free money any day!
Ross, I bought Altria today as well. It’s crazy that on an up day like today, the stock went down 4%. I think some people must be trying to sell the stock and scare everyone away so they can buy it back tomorrow and also pocket the 2% dividend.
We shall see.
I knew it!! Altria is at $15.15 right now! Yay! (Sorry, I just needed to come brag as it was certainly easy and quick money!)
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