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Understanding Mechanism of Buy Limit and Buy Market Orders
I have two questions regarding the mechanism of buy limit and buy market orders:
In my "next"-method of the strategy-code-part, I place a buy-limit order if certain criteria is met. The buy-price of that order might be below the low-price of that day or even above the high-price of that day.
My Understanding: The order will be filled the following days, if the buy-price of the order lies within the high- to low-price range of the stock. Is that true?
If a buy market order is placed, is the actual buy-priceo of a the market order randomized between the high- to low-price range of that day? Or is the close-price taken?
Thanks for clarifying in advance.