Beginner question here.
Here's my scenario.
I want to setup an automated buy of a stock.
It is currently trading at 10
I want to buy 1000 units when it reaches 8 and and stop buying if it reaches 9. But I don't want to have an 'all or none'.

Also, how do I know how many lots it will execute? I don't want to have 10 orders of 100 units because that would increase my transaction costs.

Ron.

Hi Ron,

Welcome to the community.

I do not get too fancy with my order entry so there may be a way of doing what you are doing that I am not thinking of. With basic order entry however the closest thing to what you are looking to do that I can think of would be to place a limit order at 8. The problem with that is this is going to execute you when the market trades 8 or better but not if it trades above 8.

Depending on the liquidity of the stock you are trading however, you normally should not have trouble getting off 1000 shares.

As far as continuing to buy above 8 and then stopping at 9 I believe this type of order entry would require an advanced order entry platform with lots of custom orders or a broker who would work the order for you.

If there is someone out there that thinks I am wrong on that please feel free to post here for Ron.

Best Regards,
Dave