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re: <"entry objective price and you want to go long, e.g. "buy one corn at
265 limit or better";>
Until the contract units change my order would be, “Buy 5,000 bushels of corn
at 265.” I believe, this in itself is a limit order. The “or better” here is
confusing to me, since the market is supposed to get me the best fill. I know
there is a subtle difference when it should be used, probably when the market
is lower than your buy order and you want to let the broker know that you
already know that, but I forgotten the distinction. In re Phil's plain "5"
comment, re numbers of contracts, if I were to use plain 5 with my broker, I’d
suffer the chance of ending up with 5 contracts, or at least going through
banter back and forth trying to find out what I really wanted. I'll defer to
the experts.
Larry Z, Seattle
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