Hi all
I'm new to share trading, and trying to come to grips with how things work in unusual cases.
Suppose a share has a buy price of $1.00 and a sell price of $1.01.
If I were to place a sell order at .99 c, what would be the sell price?
If I were to place a buy order at $1.02, what would be the buy price?
For the purposes of this exercise assume that the volume available at the buy and sell was more than my order. Also ignore brokerage.
I've looked all over the ASX web site and similar sites from the US, and whilst they all have great explanations of the buy/sell spread, none of them actually say which would be used in the case of a placement outside of this range.
Thanks
Kevin
