Page 276 - THE MARKET WHISPERER

272 PART 9 - The Trading Platform

The trading Orders

Limit

The limit order is very common and very useful. Its simple meaning is
“Buy (or, sell) at this price limit.” The two commands are called buy limit
order and sell limit order.

Here is an example: when I look at the Level II window, I see that the
ask (ie: sellers) are offering stock of TEVA for $54.26. I decide to buy 1000
shares at no higher than that price. To do this I will use the limit order,
which I feed in and execute in the stock box as follows:
1. I enter the stock symbol TEVA [1]
2. Enter the amount of shares wanted: 1000 [2]
3. Enter the limit ($54.26) in the order execution window [3]. It is also

possible to choose this price by clicking on it in the Level II window on
a seller at that price.
4. I choose the limit order [4]. For example, ARCAL. There are several
limit options possible, which will be detailed later.
5. Lastly, I click the BUY button [5]