For investors that are new and are learning the best way to trade.
1. Pick whether to purchase or sell
Step one is always to choose what we would like to do, buy or sell shares of stock. Until shares are purchased they cannot be sold.
2. Insert Quantity
Next we enter how many shares we would like to purchase or sell in total. To calculate how many shares we can afford, simply take the entire amount of cash now in the account and part it purchase the stock’s last price.
3. Add Symbol
The ticker symbol is what’s input into this box to denote the business we are going to buy or sell shares of. If we are uncertain of the company’s symbol there’s a link to only hunt and find out it.
4. Select Order Kind
Order kinds include market orders, limit orders, and stop loss orders. Market orders buy or sell the desirable shares immediately at the current market prices. Limit orders tell if I could get $xx cost or better the agent to simply purchase or sell these shares. Stop loss orders are combined with a limit or a market to tell the agent once $xx price hits, then activate order is followed up by this. For new investors getting started we propose just sticking with market orders.
5. Select Cost
This box is just filled in if we’re using stop loss order or a limit order.
6. Routing, expiration, Specific Instructions
New investors should ignore these fields and leave them just as their default values. These options give investors more control regarding how long specific orders should remain active and they should be filled.
7. Orders that are conditional
Orders that are conditional let investors pre-program exit strategies and their entry for the stock they desire. These orders can be effectively used that cannot be at their computers during the day to put their trade. New investors should also ignore this option and leave it clean.
8. Reviewing and Setting the Order
The “Place Order” button will appear and allow us to finish the order after the basic inputs happen to be made,. Once investors have expertise and are not uncomfortable with the commerce ticket this confirmation page can be disabled.
Congratulations on your first trade!