Quick question, quick reply required

[Barrel Scraper]

Hello Share traders
Regarding the depth list....

eg and Q): if someone has bid in before market is open say with an offer of 50 cents, and sellers are selling in the depth list at say 47 cents,.. then, assuming the bidder is at the top of the list , does his buy order trade at 47 cents?

Excuse my ignorance, but thanks for a less than ten minute reply all the same
best regards and happy trading to all

[777]

No. not necessarily. If the buyer want ed 10000 shares and 5000 were available at 47 and 2000 at 49 and 5000 at 50 then the settlement would be 50.

[Barrel Scraper]

hey 777, thanks for the info, so I can take it that if enough shares were available below the buyers bid then he "would have" been quids in yes ?

You might gather i found myself in this position this morning, but was outbid before market opening so was thinking of upping my stake to secure the deal... at more beneficial terms to what I had bargained for might I add !

[777]

It can be driven from either the buy or sell quote. Just think what will happen when all opening bids are satisfied. The same happens in the closing period.NZO this morning looked like opening at 88c. While I was answering your question it appears that some of the 22 buyers(or new ones) altered their bid to 89 which set the price.

In answer to your last question yes but at the price required to complete your order up to the limit of your order.

[Barrel Scraper]

Touchee 777 !! lol, you prob saw me sitting on 88c, with the question mark over my head as to wether to get on the top of the buyers list to secure the deal..given that my offer would have been filled by sellers selling beneath my bid, this could have been a good scheme..
but raises another question should I still have your atention.. the depth list does not show buyers prepared to purchase at "market price"..
surely they would take presidence over the fixed price bidders?.. then they become an unknown quantity to consider if trying to seal a deal in this fashion.. therefore a risk one has to consider?... sorry thats two questions.. all up three now !

[777]

I may be wrong but in both the opening period and closing period , market bids are not allowed. By placing a bid and allowing the market to sort it out then you are getting it at market price by default.

[Barrel Scraper]

thanks agian 777, your answer makes sense to me.. perhaps we can get some confirmation from another member on the market bid vs pre mrket offer scenario..
All the same, NZO have opened well hey..( not putting a question mrk on that one!).
me has been tempted to buy in regardless, but as they say, plan the trade and trade the plan!
Perhaps an insto does the big sell down thing when the price gets up.. will leave my bid in for the day.. then will cancel if not filled.
Keep my money in the bnk and wait for another screaming buy..
A good friend once told me when I missed out on a job once.."dont worry" he said, "these things are like buses, theres always another one coming down the road"

best regards treble sev

[Phaedrus]

Here is a link to a tutorial that covers all aspects of your query, BS.

https://www.directbroking.co.nz/DirectTrade/static/depthtutorial.aspx

[Possum]

Phaedrus, You mentioned in an earlier post that you look and then if appropriate sell approx 15 min before close. Do you do the same for buying. This is excellent information thanks.

[Phaedrus]

Generally speaking, I do all my buying and selling just before the Close. Only "retail" investors (amateurs and those without access to the market during the day) do most of their buying/selling at the Open.

[Barrel Scraper]

Thanks for the link Phaedrus, and I thought you were going to rip into me for referring to a stock as a "screaming buy" when it has probably triggered the most lenient conditions for a TA sell !! and this long before the latest disaster.

Interesting comment on the Retail investor; I am certainly not a professional investor and am on the other side of the world at the moment, meaning i dont have access to the market during the day.
So i fit the perfect bill for a pre open buyer/seller.. l

Oh yeah, I have very unfortunate initials ..