| Market Order |
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Sometimes
referred to as an unrestricted order. It's an order to buy or sell
a stock immediately at the best available current price. A market
order is the only order that guarantees execution.
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Be
wary of using market orders on stocks with a low average daily volume,
since the ask price can be a lot higher than the current market price
(the spread). In other words you may end up paying a whole lot more
than you originally anticipated! On high volume stocks such as Microsoft
or Wal-Mart it is much safer to use a market order. |
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Dictionary
