Using "limit buy" option to purchase lindens

It's time for me to buy some more lindens and I thought I'd give the "limit buy" option a try which I've never used. Generally I buy 100USD at a time and have always used the market buy option. As it stands right now, buying 100USD of lindens using "market buy" will give me an approx rate of 258.23L/1USD, giving me 25900L.

Now if I want to us the "limit buy" option, I need to put my 100usd into my USD account, then choose quantity of lindens and my preferred exchange rate. As it stands now a few of the best open buy order rates are:

Exchange Rate Total Remaining Quantity
L$269 / US$1.00 L$49,495,009
L$270 / US$1.00 L$1,002,495
L$271 / US$1.00 L$68,779
L$272 / US$1.00 L$50,006

So my understanding is if I used my 100usd in my us dollar acct and put in a "limit buy", I would put in 26900L at an exchange rate of L$269 / US$1.00, if I want the order to go through relatively quickly? I'm in no rush really and willingly to wait a few days for the order to go through but just wasn't quite sure how this all works and was wondering if this was the best way to go about it. I understand if I want a better exchange rate it might mean taking a lot longer for the order to go through. I'm not really interested in playing the market but thought I'd just get a slightly better rate than doing it the market buy way and would rather not use exchanges outside of LL. Also as the buy order goes through, do you get dinged a 0.30 transaction fee for each of the little buy orders until your complete order is done? Please let me know if you have any other tips or if there is a better way of doing this .. thanks

In this scenario even a buy order at $270 might get filled today to tomorrow, but the difference between 269 and 270 on your order is only $100L so if you need the money today you probably want to but for $269.

It doesn't matter how many sell orders it takes to fill your buy. You only get one transaction fee. That is already figured into the expected proceeds.

Ok thanks, I just wanted to make sure I was doing it right. I don't need the lindens right away anyways so I might try it at 270 even though the difference is minimal and don't mind waiting a bit. I guess I really should have used this method all along rather than the market buy to get a bit more bang for my buck, since even if you use the lowest limit buy rate, it's always better than the market rate & your order goes thru relatively quickly at the lowest exchange rate if I'm understanding things correctly.

Personal observation on the lindex these days indicate the following.

If you play your money at 268 it will fill fast, probably within the hour.
Placing at 269 can take up to 5 days but it will fill. Placing at 270 well I left a buy order there for nearly 3 weeks and finally gave up and moved it to 269 yesterday.

I dunno... I haven't needed to buy any lindens in several months, but the last time I looked I think the exchange rate was better on X Street.

It's not enough to look at the available buy orders to get this conclusion.

Look at the market history page, http://secondlife.com/currency/market.php . The "Max Rate" column shows the maximum number of L$ anyone has gotten for 1USD on each day. As you can see, no one has gotten 270 in the last month, so it's unlikely such an order would be filled in a day or two, if ever.

In order to judge how long it would take to fill an order at 269, compare the number of buy orders at that rate or worse with the number of sell orders at the best selling rate. If there are a lot more sell orders than buy orders, then a buy at the best rate is likely to fill quickly, within a day or two. If there are a lot more buy orders, then it could take 5-7 days for a buy order to fill. This is only a rough indicator, there are no guarantees.