Compare market, limit and partial fills
See this course’s project requirements
A fictional stock-literacy file with a quote card, checked order and gap cases, an accessible OHLC chart, a pattern counterexample and a reconciled paper-trade ledger.
Keep your working files in your own notebook or software. Save a private description, checklist, and work link in My Proof.
What to include
- A quote card with exact symbol, historical last price, best bid, best ask, spread, visible sizes and simulation limitations.
- An order comparison showing executed quantity, unfilled quantity, gross cost, weighted fill price, fee and total cash cost.
- A two-column gap comparison with trigger, resulting instruction, fill status, executed price, net cash and unsold shares.
- An annotated original candle chart, exact matching data table and period-3 range/body/wick calculation.
- A pattern note with numerical definitions, $49 three-period average, opposing continuations and a failed observed-support band.
- A complete fictional stock-literacy file with quote card, order/gap comparisons, accessible OHLC chart, pattern counterexample and reconciled two-order ledger.
Review and revise
Use these criteria to check your work and choose what to improve.
- Quote, order and ledger records use the exact supplied inputs, distinguish submitted/pending/filled states and reconcile all executed quantities.
- Money calculations show units, fees and intermediate steps; cash and shares agree with an independent calculation.
- The original chart has a matching table and labels; pattern notes retain contrary evidence and distinguish historical observations from forecasts.
- All six lesson outputs and changed-input results are included, with fictional assumptions and untested real-world behavior stated accurately.
Want more background?
The idea in everyday life
PINE-PRACTICE is an invented company symbol, not a real security. The fictional last-traded price is $50.00. The book has buyers for 6 shares at $50.00 and 4 at $49.80; sellers offer 6 shares at $50.20 and 4 at $50.40. Use those quotes exactly, with no other traders or changing prices. A fictional fee of $1 is charged once per order with any fill; no fee is charged when nothing fills. This static exercise omits routing, queue priority, tax, latency, price improvement, market halts and brokerage-specific rules.
An order type defines a price instruction. A fill record tells you what actually executed; one is not proof of the other.
Compare market, limit and partial fills — worked paper practice
An order type defines a price instruction. A fill record tells you what actually executed; one is not proof of the other.
PINE-PRACTICE is an invented company symbol, not a real security. The fictional last-traded price is $50.00. The book has buyers for 6 shares at $50.00 and 4 at $49.80; sellers offer 6 shares at $50.20 and 4 at $50.40. Use those quotes exactly, with no other traders or changing prices. A fictional fee of $1 is charged once per order with any fill; no fee is charged when nothing fills. This static exercise omits routing, queue priority, tax, latency, price improvement, market halts and brokerage-specific rules.
Fictional PINE-PRACTICE quote book
Paste at A1.
| ASide | BPrice ($/share) | CAvailable shares |
|---|---|---|
| Bid | 50 | 6 |
| Bid | 49.8 | 4 |
| Ask | 50.2 | 6 |
| Ask | 50.4 | 4 |
Copy as plain text
1. Record the two fills
Multiply 6 by $50.20 and 4 by $50.40.
6*50.20 + 4*50.40 = 502.80You should see: $301.20 and $201.60; total gross $502.80.
Every execution amount needs its own price and quantity.
2. Find weighted price
Divide $502.80 by the 10 shares actually filled.
502.80 / 10 = 50.28You should see: $50.28 per share before fee.
Use executed quantity and keep fees outside the weighted market price.
3. Add the modeled fee
Charge the one $1 fee for this order and add it to gross cost.
You should see: Total cash cost $503.80.
One order can have multiple fills; this case charges one fee, not one per fill.
4. Apply the buy limit
For a 10-share limit at $50.20, include only offers no higher than $50.20.
You should see: 6 filled for $301.20 gross; $302.20 including fee; 4 pending.
A buy limit caps acceptable execution price but cannot create available sellers.
5. Test an unfilled limit
Repeat with the buy limit $50.10.
You should see: 0 filled, 10 pending, $0 cash charged in this model.
The $50.00 last trade is not an available ask.
What to finish
An order comparison showing executed quantity, unfilled quantity, gross cost, weighted fill price, fee and total cash cost.
Watch for this
Writing the order’s estimate or limit as the actual filled price for every requested share.
How can I tell I understand it?
Reproduce market and limit cases, and explain why a submitted or partially filled order is not a completed 10-share purchase.
Quick knowledge check
Answer all 3 questions. Get at least 2 right and the lesson completes automatically.
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Pass the check. We’ll save the progress.
Answer all 3 questions above and get at least 2 right. You can review the explanations and try again.
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Sources and further reading
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Source & access notes · checked 2026-10-01
Inspected bid, ask and spread definitions; all quote sizes and prices in this course are invented.
Access: Public official page inspected with the web reader on 2026-10-01; no broker tools or real transactions operated.
Reuse: Concept references only. All prices, records, charts, worked examples, exercises and questions are original fictional LifeStarter material; no source diagram or exercise copied.
Source & access notes · checked 2026-10-01
Inspected market/limit, partial execution, stop triggers and stop-limit nonexecution; specific policies vary by broker.
Access: Public official page inspected with the web reader on 2026-10-01; no broker tools or real transactions operated.
Reuse: Concept references only. All prices, records, charts, worked examples, exercises and questions are original fictional LifeStarter material; no source diagram or exercise copied.
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