Quote Originally Posted by Midwest Player View Post
I always use "limit orders" except possibly for the first stock I bought which was through a stock broker.

Anyway with the Dow being down 942 points at the low today my limit order filled. Now I'm wondering if I set my limit order low enough. The last time I was planning on buying Target, I set my limit too low and never did get the stock. Sept is supposeD to be the worst month for the market and only a couple weeks left so didn't want to go too low and miss my chance.

Anyway, is there a rule of thumb on how low to set your limit order below current market price?
No. If you're in it for the long run, a half point is completely irrelevant. If you want the stock, just buy it.

And yes, September is by far, historically, the worst month of the year. Sticking it to us again this year.

Don