If a little child can do it? Part 5 The trading Window. Part 1

If a little child can do it? Part 5 The trading window. Part 1

Let’s introduce you to the trading window.

When you log into your trading account, you will want to look for a tab that says stocks. In the stock tab you will find these options. 

Transaction-are you buying or selling?

Symbol-what is the stock symbol for the company you wish to buy or sell?

Quantity-how many shares are you buying or selling?

Order Type

Market

Order executed immediately at the next available price, unless there are no other counterparties available for the trade

Limit

Order executed at your limit or better if that price is available

Stop

Order is triggered at the Stop Price and converts to a market order for execution.

Stop Limit

A stop order that is only filled if at or better than your limit price

Trailing Stop ($)

Enters price-based stop order that adjusts as security moves.

Trailing Stop (%)

Enters percentage-based stop order that adjusts as security moves.

Let's pause here for a moment, until you become more familiar with order types, you should stick with (Market, Limit, Stop, Stop Limit). 

Limit Prices for Limit & Stop Limit Orders

When you enter a limit price, your order will execute at a price equal or better than this number. For equity orders priced under $1.00, you may enter up to four numbers after the decimal point (i.e. $0.9876).

Stop Prices for Stop & Stop Limit Orders

When you enter a stop price, your order will be activated once the price of the security reaches this number. At that point it becomes a market order that will be executed immediately at the next available price - unless there are no other counterparties available for the trade.

For regular Stop orders, the order becomes a Market order when the Stop Price is reached, and executed immediately. For Stop-Limit orders, the order becomes a Limit order once the Stop Price is reached, and executed at the Limit Price or better.

For equity orders priced under $1.00, you may enter up to four numbers after the decimal point (i.e. $0.9876).

We will pause here, and pick up with the remainder of the trading terms and definitions, in our next post. Please confirm these terms and definitions, with your individual broker account for accuracy.

Disclaimer: I am not a licensed broker, and I do not presume to make you any promises that this strategy will work for you. The information is strictly for conversation, and if you choose to use in whole or in part any of this information. You do so at your own risk.


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