The Real Wall Street An Understandable Description of a Purchase a Sale a Sh
The Real Wall Street An Understandable Description of a Purchase a Sale a Sh
Black, William Harman, B. 1868
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Printed in red ink on white paper. In case the broker holding these orders had the floor, the buying order would be filled as soon as 100 shares of stock was offered at 138, the selling order filled when 142 is bid for 100 shares. The broker making the first bid at a price has the floor at that price, up to the amount of stock for which he is bidding. He has the privilege of buying the first stock which is offered at his bid price, unless this stock is offered in a block, "all or none, " which ...exceeds the amount for which he is bidding. It is sometimes hard for a customer to understand why, when 500 or 1, 000 shares are printed on the tape at his limit, his stock is not bought ; the reason is that some broker on the exchange has offered 500 or 1, 000 shares 14 "all or none/' which means that he has a block of stock for sale and will not consider a loo-share bid. Where a customer wants to limit his loss to a certain amount, say, 3 points, he enters a "stop order. " After having bought 100 Union Pacific at 140, he will enter a stop order as follows : ; Sell 100 Union Pacific at 137 Stop.
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