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Limit - Day orders


Fungus

Question

The share I want to purchase has a ridiculous spread of £1.45 to £1.50. 

Therefore I looked into placing a limit order. The only choice was a 'Limit-day' order.

 

This is described something along the lines of 'An order which executes once the market price reaches a specified level. If it isn't filled at the end of the day the order is cancelled'.

I want to buy 3,000. Does this mean that the order will only be implemented if the full 3000 can be bought at my limit price? What I don't want happening is an order to be filled for one share only because only one share reached my limit price. 

 

 

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