Reddit is no help but id prefer not to fuck up this buy and Im kinda lost. Bought GME on robinhood (nothing big) but want to make sure I did it right before I cant cancel them. For this situation are market order in dollars fine or should I have done in shares? (idk if it matters), or a conditional order? Also since the market is closed my order is queued to process when it opens at 8:30am. Is this gonna give me the amount I bought at right now or is it going to give me whatever price it opens at? Basically is there anything simple that Im missing or should be doing or anything I did incorrectly?
If you put in a dollar amount it should be that amount but it could vary. If the price is higher on open, then you get less stock. If you order by stock, then the price could vary. Like let's say you buy $1 for the morning and right now it corresponds to 1 share. If the price in the morning is $2, you get 0.5 shares instead of 1. Because the price doubled and you only gave enough for half. Where as if you order 1 share at $1, and it's $2 in the morning, you pay $2 because you wanted a share.
As long as the price stays down overnight you bought at a good time. This morning it was like $340 before open. So if it climbs like that again, then you'll either get a smaller share or pay more for your shares than right now. But overall I think you're good. If I were you I'd go into your profile on RH and fill out the tax stuff (marriage status, employment, etc). I almost missed the dip this morning because it wouldn't let me trade before filling that stuff out (and didn't notify me of it on sign-up) and then the site/app went down so you couldn't fill it out then. Even though your order was placed, it could still hold you up in the morning.
I don't know anything about stonks but i feel like if you have to be asking these questions you maybe shouldn't be risking your money on this clusterfuck