Talk:Order

I believe a link to my experience buying VSS would be appropriate in the section on how to trade ETFs, but it doesn't fit well with the current wording. It does illustrate the issues; I avoided getting burned on a market order (and someone else got burned later the same day), and I did lose when I tried to buy inside the spread and the price went up (numbers not in the post, but I believe I could have bought at $51.53 and wound up paying $51.75 fifteen minutes later).Grabiner 03:28, 24 May 2010 (UTC)


 * Perhaps a workable solution would be to take a portion of the post and place it in a quote box, with the source reference linking back to the forum conversation. Example:

--Blbarnitz 17:23, 24 May 2010 (UTC)  I took another approach, as there is another thread with real-time trading examples (we could find a lot more...). I reorganized, then added grabiner's thread as an External Link at the bottom of the page. My thinking is that these descriptions are more appropriate for the forum. The posts are very educational, especially when followed by interesting responses. In this case a near real-time discussion in the original context is more beneficial than an objective 3rd person wiki approach.

I also clarified the examples to be more readable to me (taking the newbie perspective). --LadyGeek 02:10, 25 May 2010 (UTC)

I have a suggested revision to the introductory paragraph (two paragraphs below) to make the points I would like made, but I would like to solicit comments before we put it there.

This article is an introduction to the mechanics of the limit orders and market orders which are used to buy or sell an ETF or stock; while the Bogleheads investment philosophy does not recommend frequent trading or complex strategies, all ETF traders should understand how the market works before buying or selling ETFs.

The least risky way to place an order for an ETF is to match the best current offer by placing a limit order to buy at the current best offer to sell (or vice versa). While there are many other ways to place an order, many of them are suitable only for experienced investors who understand the subtle complexities involved; often, the extra complexities involve a significant risk for minimal savings.Grabiner 01:22, 31 May 2010 (UTC)


 * Looks fine to me. --Blbarnitz 17:08, 31 May 2010 (UTC)

Try this. Wording modified for readability and to be more general. --

Caveat: This article is a basic introduction on the use of orders for trading securities. It is not intended to encourage trading and bypass the Bogleheads Investment Philosophy. This is an advanced topic.

While there are many ways to place an order, many of them are suitable only for experienced investors who understand the subtle complexities involved. In some cases, these extra complexities result in minimal savings. Please ask in the forum for advice.

Additional focus is on ETFs. While the Bogleheads investment philosophy does not recommend frequent trading or complex strategies, all ETF traders should understand how the market works before buying or selling ETFs. An understanding of limit orders and  market orders (and knowing the difference between them) is essential when buying and selling  ETFs or stock.

-- The links should work when pasted into the page. --LadyGeek 17:31, 31 May 2010 (UTC)

Ultimately, I went mostly with my wording, because I would like to have the recommendation at the top of the page to buy with a limit order at the ask; this is one of the most common questions about ETFs, and the proper advice should be to either buy with a limit order at the ask, or understand enough about the market to know what you are doing with some other order.Grabiner 21:49, 6 June 2010 (UTC)