Ok looking at TER after I sold it this morning. I read the order books, and there's a large buy order at 5, which corresponds to support for the rally. Like I mentioned, I think TER is reversing it's downtrend and is going bullish. I say this for the longer term people who may be reading this.
So on to my orders. I bought again at 5, with a back up order at 4
Unlike most of my trades, I'm not using limits to sell. This is because I think TER is getting ready to go ballistic, so I want to sell live real time. I didn't put a limit in for my last trade for that reason. I'd hate to sell at 6 on the day it goes to 20....
My order at 5 already filled, but you have to play the rolling bid game on the buy side to get that price (that's how I got it for 5 even though the asked price [sellers] has stayed solidly at around 5.50). The way to get your fill is to take 2 x of what you want to buy, use HALF of it to bid the minimum increment above the current top buyer. When you get outbid immediately use the other half to outbid your competitor( again by the minimum increment) and cancel the old bid, allowing the funds to be used for the next increment.
In this way you can stay at the top of the chain. Most traders don't think this way. The key is to have your finger on the button to outbid your opponents INSTANTLY, while they go cancel their order, wait for the funds (only take a few seconds, but seconds count).
The effect of this tactic is that YOUR order will be at the top of the chain 90% of the time elapsed until you catch the random seller and fill.
And that's how I got 5 when the lowest seller limit order has been 5.49 or so.