Is it possible to buy or sell highler/lower than current market price?

[SavantGarde]

Exchanges Here May Talk Of Level-II Order Book...But Only 5 Visible Orders Is A Farce.....Like I Said Earlier It Is Hardly Level-II.

Level-II Should Be The Same Everywhere In The World.

There Is Discrimination In Term Of What The Big Boys Can See As Opposed To The Small Fishes.

Also....There Are Stuff Out There Where They Can See The S/L Orders Too....

Anyways, Can't Elaborate In Detail On This Topic.

Let's Say There Are More Privileges For Select Few.

SavantGarde

 

[bunny]

^
yes, thats true. We can see only the best 5 relative to the Last Trade Price (LTP).

One way could be memorize the book as it unfolds, but thats quite inefficient and we cannot see orders being canceled in the background.

 

[bunny]

OK, now I got how you said "YES". That can be done by putting a MARKET order, especially at time when there are less bids, or by putting a large size order. But also, the difference would not be THAT much as in 10 or 15 Rupees. At most may be 5 to 50 paise depending upon the order book.

And now I also understand how markup and markdown is done! This was the main question which lead me to ask "Is it possible to buy higher or sell lowe than current market price". Though I have fully understood it now, understanding the concept was difficult mainly because not much is written about how order matching is done and last trade price(LTP) is decided. Anyways, I will be sharing it soon. I am writing a small write-up with illustration so that it is not difficult for others to understand.

It took me over a month to find an answer to this, but I must say it great to learn that thing!

 

[bunny]

Hi Bunny,

Short Answer Is..."YES"

It Can Be Done From Any Terminal

You Guys Have Been Breaking Your Head Eating Up 2 Pages...For This

Happy & Safer Trading

SavantGarde

Sorry for bothering,

But I somehow don't like short answers. I need detailed reasons so that I am sure of what I "REALLY" know

 

[veluri1967]

OK, now I got how you said "YES". That can be done by putting a MARKET order, especially at time when there are less bids, or by putting a large size order. But also, the difference would not be THAT much as in 10 or 15 Rupees. At most may be 5 to 50 paise depending upon the order book.

And now I also understand how markup and markdown is done! This was the main question which lead me to ask "Is it possible to buy higher or sell lowe than current market price". Though I have fully understood it now, understanding the concept was difficult mainly because not much is written about how order matching is done and last trade price(LTP) is decided. Anyways, I will be sharing it soon. I am writing a small write-up with illustration so that it is not difficult for others to understand.

It took me over a month to find an answer to this, but I must say it great to learn that thing!

Bunny,
Waiting for your write up

 

[bunny]

Bunny,
Waiting for your write up

This PDF file [link]

 

[bunny]

This PDF file [link]

If someone wants to try how, they can do so in illiquid counters.

You can open up the "Best 5 bids and offers" window and see your order in the book and its execution.

PS: Bear in mind that this experiment will cost you brokerage and some other taxes as usual. Just cautioning, because one may forget about it in the zeal of experimenting.

 

[veluri1967]

If someone wants to try how, they can do so in illiquid counters.

You can open up the "Best 5 bids and offers" window and see your order in the book and its execution.

PS: Bear in mind that this experiment will cost you brokerage and some other taxes as usual. Just cautioning, because one may forget about it in the zeal of experimenting.

Best way explained. LTP, Bid & Ask and their filling order.

Beauty is that it is explained in clear terms how a resistance/support is broken on higher volumes.

Keep it up.:clap:

 

[Shah Jahan]

But one more question to bother your. Why can't it be done? I means the buyer is willing to buy for a higher rate then quoted by the seller. So infact it should be a good deal, right?

Because it will skew the historical data and thus effect people's decision. Example: People check historical prices like days high/low, months/52 weeks high/low when deciding bid/sell value.

This ensures that the stock's historical prices are NOT skewed and hence people don't get confused about how the stocks have been performing in the past.