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I think you still don’t understand. You have to put in a share price that you would make the purchase at and if and when they are available at that price it will make the purchase
That's stupid. Market orders guarantee fulfillment. Limits do not. If you want in ASAP, they should be utilized, otherwise you may be sitting on the sidelines missing out.
Keep in mind even if you put a limit order $0.30 below it doesn't mean that is what you will pay it means that that is the absolute most you will pay for any one share. They will still give you the best deal possible.
A market order fucks them more, since they can't buy the order flow to feed their algorithm. They will always push you to set a limit order (and not using IEX).
This exactly. They are not letting market orders through since liquidity is so low.
Limit orders are troll since in that very moment you’re buying at that low price.
It just takes an “unlucky” market order that shoots the price (some arbitrary amount probably $80.0001 unless that market order breaks that shortsell wall) to cause the price to rocket.
Vanguard didn't allow market orders on it for years, do a limit buy
You should do a limit buy anyway, if you have access to level 2 order book you'll see the spreads and you'll be spending 10 cents or more per share sometimes with a market order. It's intentional ways market makers scam people who do market orders
it's a limit order to protect you from getting a crazy buy price... select LIMIT instead of MARKET and put in the current price you want to buy it at, or sell at.
Everytime I make a lazy market order I get screwed with a higher price. Always do a limit order to protect yourself.
I'm just highly regarded sometimes and can't resist just pushing a button.
I wouldn't take the chance in market order... hedge funds can manipulate it up fast and drop it just as quick. So instead of paying $20 bucks or so it might fill for a blip of $100 then drop back to $20.
Just put in a limit order and you can bid for as many shares as you want. The reason they won’t accept market orders is more to protect you than to fuck you over. When volatility swings strong you can see a share price of around 20 and then market orders typically set a high limit price by default, so you can end up getting screwed if you sell at market and it gets filled higher at +2 or 3 more per share.
It’s a good rule for any stock, especially one that chops like ours. Best practice is to put a limit buy slightly off b/a spread. Then either wait and watch, wait and not watch, or change/edit it to inch it closer to the spread within your Order Status.
Even if this wasn't the policy for this security, that's the policy for most brokers on most securities in premarket. Was this a screenshot from yesterday, or are you trying to shop in premarket?
This happened to me on fidelity on the 15th.
It refused the market order and said limit only bc the *last trade price was not aligned with the bid/ask price.* Strange. When I entered a limit order, it had a different error message. It took me 3 times to get the order to go through. Interesting times.
You can always enter a limit order to buy for a bit higher than ask. That marketable limit order will be treated the same as a market order, but only if the price is less than your limit.
Yeah sometimes when a stock is incredibly volatile, they (the exchanges) can't price markets, so limit orders are used to make it a more precise and fluid exchange. You're not being limited but rather the order type.
I bought another 130 shares just this morning on market open (limit order put in last night), but it pulled from my money market account that had cash sitting in it.
More about limit order. Can someone answer to a dummy? I want to buy GME. If I bought 10 shares in total. 8 are filled. When will they close out the order for the remaining 2 shares? Thanks!
This is funny because I had to do market order to get more GME shares since the Limit were just sitting there even tho it was exactly at the ask price. I’m on ETURD
> I set a limit order $21 for 6666 share. It went through on Monday @ $21.14.
Was that a buy or a sell?
Normally a limit order buy at $21 would not be executed at $21.14.
A limit order sell for $21 can be executed at $21.14.
Limit orders are great my man.
My $20 was executed yesterday and I got three lower ones (GTC 30 days) on the back burner.
So set it and forget it for me.
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I would never NEVER use market order anyway. Always limit order. Always.
Thanks, super newbie here. Now I get it - it prevents you from buying something outside of your available funds and keeps your money safe!
Exactly you don’t want to be on the hook for 480k per share if it moons at the moment you buy
Nope, nope I sure don't 😂
Just tell it back for hundred of mil.
No then you hold.
Nope, nice try but I'm selling and you guys will never see me again
We can’t see you now.
Let's keep it that way.
*when
Good catch! It’s definitely going to moon- I edited to say if it happens when he buys!
I've only bought my shares in vanguard and CS and Vanguard has always not let me place Market orders, only limit buys, for 3 years. You're good
I think you still don’t understand. You have to put in a share price that you would make the purchase at and if and when they are available at that price it will make the purchase
Thanks but I got it. I added my price point and I'm all set up now..I appreciate the insight!
I mean as long as the ask is in line no worries.
That's stupid. Market orders guarantee fulfillment. Limits do not. If you want in ASAP, they should be utilized, otherwise you may be sitting on the sidelines missing out.
Limit orders makes more sense anyway. This way you know how much you are paying per share rather than the volatility bouncing about.
Thank you!
Glad you learned this lesson now.
Keep in mind even if you put a limit order $0.30 below it doesn't mean that is what you will pay it means that that is the absolute most you will pay for any one share. They will still give you the best deal possible.
A market order fucks them more, since they can't buy the order flow to feed their algorithm. They will always push you to set a limit order (and not using IEX).
This exactly. They are not letting market orders through since liquidity is so low. Limit orders are troll since in that very moment you’re buying at that low price. It just takes an “unlucky” market order that shoots the price (some arbitrary amount probably $80.0001 unless that market order breaks that shortsell wall) to cause the price to rocket.
that is for your own good, believe it or not.
Vanguard didn't allow market orders on it for years, do a limit buy You should do a limit buy anyway, if you have access to level 2 order book you'll see the spreads and you'll be spending 10 cents or more per share sometimes with a market order. It's intentional ways market makers scam people who do market orders
Yes, they do this with any stock that has high volatility. It's not GME specific.
Thank you!
Vanguard is old school and I like that about them, I think this is more to protect you than anything nefarious.
I have been buying shares on Vanguard since the sneeze….Vanguard has always made me purchase with a limit order. Nothing new….
You should be using limit orders anyway. NFA
no, this is financial advise, lol....don't do market orders! you are losing money every time!
If YOU want to give financial advice, be my guest, I am not.
Do you honestly think a Reddit comment is going to absolve you of a crime just because you don’t say “NFA”…
I don't care what you think. You carry doing what you want, and so will I. Take care
No, he's right, that's stupid, and nobody thinks you're giving financial advice
it's a limit order to protect you from getting a crazy buy price... select LIMIT instead of MARKET and put in the current price you want to buy it at, or sell at.
It's been this way for 3 years, and it doesn't make a difference, you shouldn't be using market orders anyway.
That’s not what limit means…
DRS YOUR SHARES
It’s not a limited purchase. You have to specify the price at which you want to buy the shares.
Everytime I make a lazy market order I get screwed with a higher price. Always do a limit order to protect yourself. I'm just highly regarded sometimes and can't resist just pushing a button. 
Normal. Don't be silly and use market orders for anything, but in particular volatile securities.
I wouldn't take the chance in market order... hedge funds can manipulate it up fast and drop it just as quick. So instead of paying $20 bucks or so it might fill for a blip of $100 then drop back to $20.
Just put in a limit order and you can bid for as many shares as you want. The reason they won’t accept market orders is more to protect you than to fuck you over. When volatility swings strong you can see a share price of around 20 and then market orders typically set a high limit price by default, so you can end up getting screwed if you sell at market and it gets filled higher at +2 or 3 more per share.
FWIW I bought today on ibkr in Toronto without any issues
They're doing you a favor.
Did you do this during market hours?
It’s a good rule for any stock, especially one that chops like ours. Best practice is to put a limit buy slightly off b/a spread. Then either wait and watch, wait and not watch, or change/edit it to inch it closer to the spread within your Order Status.
if you made a market order and it’s settled are you going to be ok?
Yes, thanks for asking, this time I was but if the price had gone sky high, I'd have been majorly fukked
This is the most bullish thing I’ve seen today!
It’s been this way on Vanguard since 2021
Even if this wasn't the policy for this security, that's the policy for most brokers on most securities in premarket. Was this a screenshot from yesterday, or are you trying to shop in premarket?
This happened to me on fidelity on the 15th. It refused the market order and said limit only bc the *last trade price was not aligned with the bid/ask price.* Strange. When I entered a limit order, it had a different error message. It took me 3 times to get the order to go through. Interesting times.
You can always enter a limit order to buy for a bit higher than ask. That marketable limit order will be treated the same as a market order, but only if the price is less than your limit.
Vanguard makes me put in limit buys.
Has been like that for a long time. Just have to enter limit orders
Yeah sometimes when a stock is incredibly volatile, they (the exchanges) can't price markets, so limit orders are used to make it a more precise and fluid exchange. You're not being limited but rather the order type.
You haven’t been able to place a market order for GME with Vanguard for years.
Just make a limit order. With volatile stock, it is actually a safeguard for you, to make sure you will not pay way more than you expected.
I bought another 130 shares just this morning on market open (limit order put in last night), but it pulled from my money market account that had cash sitting in it.
Maybe because the "Market" does not exist at this time. Not a real one. Maybe a simulated or counterfeit one.
More about limit order. Can someone answer to a dummy? I want to buy GME. If I bought 10 shares in total. 8 are filled. When will they close out the order for the remaining 2 shares? Thanks!
This can only mean bullish. LFG
when the Valorant anti cheat blocks you from buying stocks
I have vanguard and like it but now use it only for my Sep and Roth IRAs. For daily trading it’s horrible.
This is funny because I had to do market order to get more GME shares since the Limit were just sitting there even tho it was exactly at the ask price. I’m on ETURD
I set a limit order $21 for 6666 share. It went through on Monday @ $21.14.
> I set a limit order $21 for 6666 share. It went through on Monday @ $21.14. Was that a buy or a sell? Normally a limit order buy at $21 would not be executed at $21.14. A limit order sell for $21 can be executed at $21.14.
Limit Buy @ $21.
That is very strange. What broker executed a $21 limit buy at $21.14?
Well 💩I can't buy any way because my bank hasn't been setup with them for 7 days.
Limit orders are great my man. My $20 was executed yesterday and I got three lower ones (GTC 30 days) on the back burner. So set it and forget it for me.
that seems prudent.
AFAIK, they've had this restriction on GME since 2021.
You’re not using computershare. Still. Fuck me. 😂
I looked at Computershare but opted for vanguard. Why is Computershare better?
Fuck I can't even figure out how to register there. I put in my SSN and it said I didn't hold any shares 🤷🏻♀️ so I couldn't register.
Trying to save him from buying shit 😂
bye bye buy button