Why wouldn't I just place a limit order at 105.90 and call it a day? Why wait until the price surpasses what I want to buy at before trying to buy at a price lower than what it is selling for?
Because people still think they can predict what the market will do.
>>2484507
the fuck? you're right that makes no sense.......
no wonder the legacy stock market has such low gainz lmao
Because the assumption is that unless it reaches 106 at least once, it will continue to go up, generally. If not then it will go down.
In you case, you would set the order at 105.9, the stock would go up to 105.95, triggering your buy, and then fall back down to because it didn't pass that resistance of 106.