Instructions and instructions
You may be thinking that you simply phone up the broker (or use the online service) and say ‘buy’ or ‘sell’. Think again. There are many different types of orders you can make.
At best
‘At best’† means that the trade is completed immediately at the best price available. Prior to you saying to your broker that you would like to buy (or sell) you would have asked for the broker to tell you the current prices in the market – the prices other traders are offering to buy or sell. If you like the price then you can instruct the broker to do a deal.
But there is a problem. In the few seconds between you saying you would like to buy and the broker actually entering the market with an order the price may change. Thus the ...
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