Well, for most of us, the biggest one is to watch the volume of the “hot” orders as they move out of your trading window into your daily trading limit. You can also check your “hot” orders via a trading window, but this only indicates volume. This does not indicate a specific order or whether a single order hit or miss. There is no way you can know this. With that out of the way, we can get into specifics. Here are some quick indicators for price movement in an open or closed order:
1) A sell or a buy order with a price above or below $100.
2) A sell order with a price above or below $100 at an open price point (such as $110, $120, $130, etc.); or
3) A buy order with price above or below $100 at an open price point on a “hot” market.
You should expect to see low volume at these price points, because they are where many prices rise and fall, especially over the course of a day.
3) If you have a “buy” order for $100 right now, you might see a few small orders that appear on your screen as the bid moves up against the offer. While there might be one or two orders for $100, there will be dozens or hundreds more for $100. (Think of your order as an offer for somebody else’s stock. That person still wants it at a $100 price.) The bids will also be in the same range, as they don’t see an immediate price drop.
4) If your buy order at a $100 price is $30 and someone places a 20-something buy order for $100, the two bids will be the same. This does not necessarily result in a small drop in price, but a big swing. Remember, you just sold $100 of your own stock. It is not a stock that is being sold. It is a stock currently being bought somewhere.
5) If you have a cold, close bid and someone places a low bid ($100), then that bids just $20. Remember, if something happens to the low bid, you’ll have to deal with a sell order right away. Even though a cold, close bid is below the buy order, you may not know what that stock is selling for but that person could be buying at $100.
If you are trading a large volume order, you’ll get calls from
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