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Ok, so today I traded (bought) my first ever shares. I take these first few trades as a learning step - profit/loss is a secondary issue since I am starting off with a very small amount.

I was made to understand that a limit buy order would get you stocks at that price or lower. I was also under the impression that should the market open lower than your limit price, then you get to buy the stocks at that lower price.

However my experience this morning was quite the opposite. The market opened comfortably at $0.605 and it wasn't till mid-day when it hit $0.615 for this particular stock, yet when my order was transacted at 9am, the price it transacted at was $0.615.

My question is simple - why was my order executed at $0.615 rather than $0.605? What have I understood wrongly about the way buy limit orders work? Would appreciate any and all help to understand what happened here.

Screenshot of the buy/sell orders queued seconds before the market opened: http://ift.tt/2i5JUCE

Thanks!



Submitted January 03, 2017 at 07:58AM by learner1314 http://ift.tt/2j48rwr

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