Are day orders filled before GTC orders?

Question

I rarely dabble in penny stocks, mostly because I find it really difficult to find any that actually have any good reason not to be a penny stock. Sometimes, though, I find what I believe are gems. However, when I place orders for them, I've noticed that sometimes my limit orders don't seem to execute the way I would expect them to. Sometimes, they execute over multiple days (expected given the volume these stocks trade in sometimes), and sometimes it appears that my limit price is superceded by somebody else's limit price at the same price point, even though mine is set as GTC and some portion of my order has already been filled on a previous day's trading session. Can somebody with a little more familiarity with this process explain to me exactly what is going on here?

Answer 1

Yes, Day orders have procedural priority over GTC orders.

Answer 2

not sure if day orders have priority over gtc. i think any order that is executed (entered by the trader) will in a sense get in line and when your time is up you receive your shares.
now there is a bid and an ask price for a stock. if your sitting on the bid with your order then it wont get filled. you need to buy at the ask price and you will get filled. some people wait on the bid to get filled but what happens really is the bid becomes the new ask when the stock price goes lower and they finally get their fill for shares. hope that helps a bit