Re: buying stocks (market order vs limit order)
If you are holding these things for the long term, then just use a market order and move on. Yes, you may get better pricing with a limit order, but really if the bid ask spread is tight (one to two cents, which they usually are on the heavy traded ones) then even a market order is fine and won't be that much of a rip off. Because you are investeing for the long haul there is no need to be a nit for pennies. I've worked at a brokerage and watched a client be a nit all the way up as the stock was climbing. If the Bid Ask was 29.35-29.40 he would put the order in for 29.25, and managed to do that all the way up to 40 bucks never buying the stock. I told him, if you think the stock will move up, why be a nit and just place the damn order. So same advice applies. Who cares if you lose out on pennies, if you think that the stock will move considerably higher.
Now if you were daytrading, then every single penny counts because that's the type of moves they are looking for, then we are in the realm of limit orders.
Place a market order, buy your stock and hold it to match your investing objectives.
THE HUN.
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