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Cotter On Investing: Taking the bull out of the markets: practical advice and tips from an experienced investor by John Cotter

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Chapter 12: Smarter Ways to Deal

The simplest way to buy or sell a share is to give a market (or, at best) order to your broker. For example, you may tell your broker to “buy 200 shares in Diageo at market”. This instructs your broker to go to the stock market immediately and buy 200 shares at whatever the current price is.

But you may not want to deal at the current price. For example, you may want to buy Diageo shares at 1100p, but the current price is 1120p. In which case, one option is to sit at your computer screen all day waiting for the price of Diageo to fall to 1100p (if it does at all), and when it does to quickly give a market order to your broker. Possible, but clumsy. A better way is to give your broker an order to buy the shares ...

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