07/014/2020 UPDATE Recently,  some moomooers asked me about ...

07/014/2020 UPDATE
Recently,  some moomooers asked me about Market Order. So I'd like to make you aware the market order.
Hope this article could help u all！

A market order is most similar to a “buy it now” button on Ebay. When you use the buy it now button, you are buying that item, NOW. This is same concept of the market order, which basically says, “buy me or sell my shares now at whatever the best price is available at this very moment.”

So, if we were to buy stock with a market order, then we would get our shares at (or close to) the ASK price at the time of the order. Similarly, if we were to sell shares of stock with a market order, then we would get our shares sold at (or close to) the BID price at the the time of the order.

The ASK price is the lowest price a market participant (you, me, hedge fund, etc) is willing to sell their shares for at that moment, and the BID is the highest price someone is willing to buy shares (you, me, hedge fund, etc) for at that moment.

Tip for success
If the stock is very lightly traded (not a lot of people buying and selling shares) then you have to be careful when using market orders.
Why? Because the bid/ask spread may be wide, which means you may not get a very good price. This is why people use limit orders.