What happens when you buy ...

[CJ]

Newbie question as I normally buy at the market price.

If I put in a buy order of say 10,000 shares at $1. Someone sells me 8,000 at that price but then the price increases so that my order is unfilled.

Can I then reset the price to say $1.05 to get the other 2,000 bought or am I locked into the $1 price.

I currently use ASB Securities so pay the flate fee of $30.

[Sky Tower]

You can amend the price to $1.05 for the balance of the order - you are not locked in to the original price (use Trading > Review/Amend Orders). With NBNZ any order can be amended 24 hours a day, seven days a week (including LSE/NYSE/NASDAQ).

I use National Bank Online Share Trading. This system utilises real time settlement and Direct Market Access (to all five markets including the ASX). Direct Market Access will mean your order gets to market fast. Under DMA if you place the (buy) order "at market" with your order going straight from your PC to the market you have effectively accepted the sellers quote.

My personal experience with using the National Bank system is that you are better to place a limit order (i.e. 'buy up to price' or 'sell down to price'). You are also better to make your order good for a week rather than good for a day. If the order closes off in a part fulfilled status it will generate the flat fee of $29.50. So if it is a rellatively illiquid stock making the order good for a week might enable the unfilled part of the order to be filled and then the order will close off (fully completed) generating the $29.50 charge.

Disc: Dayjob: Work for NBNZ.

[CJ]

Thanks