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When placing orders, either a covered call, buying a stock etc is it preferrable to place a market order or a limit order? I basically understand the difference but don't know when to use them. Thanks Taxable 101
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When using a market order to buy stocks it can be difficult to know what purchase price you're getting. Not only do many quotes have 15 or 20-minute delays but there's also a bid-ask spread. Placing a limit order eliminates the chance of paying more than you expect to pay. The current market conditions are fantastic for limit orders if you're a little patient because you can get ridiculously low stock purchase prices by setting them 20% or more below the current price..!
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