Investor Help (NO Ihub questions)

[cintrix]

If you want a guarantee you will get filled you would put the ask price in. Sometimes on a stock that is moving really fast, say on a news event, you can put in an order on the ask and by the time you press the submit button the ask upticks and you don't get filled. If in this type of situation where you just want to buy it and you aren't concerned over a few ticks you would use a market order. That gives the mm the right to fill it at whatever the current price is. I have hardly ever used market orders over the years. It is a rare situation for me where I would use one. If it is a penny stock I highly recommend NEVER using a market order. Some brokers don't even allow them on pennies.