This is a very useful and practical chapter on how to Enter the order to purchase a stock.
- Log into your brokerage account.
- Enter the stock symbol into the search bar (usually at the upper left or right ).
- When the inventory comes up on the page, there should be a link to click called”Purchase” or”Trade” (this may change based on broker).
- It will bring you to a screen like this one below. This is known as the trade ticket that’s simply where you input the info required to purchase or sell shares. These were all hardcopy sheets of newspaper, but now they are all digitized:
- Enter the number of shares you wish to purchase.
- A limit order allows you to personalize the price to purchase your shares at. This is important to do as in the event that you choose market order then the stock could jump into a matter of seconds and you wind up paying more for your stocks and getting less. When it’s a less expensive stock selling for $.75-$5.00 then place the limit order in only a couple cents below so it will most likely fill.
- Next, pick the option”all or none” on the monitor. This means that you’ll either get the total amount of the shares you are wanting or not one of those.
- Select”submit” and then you are ready to go. You should be given a notification on your telephone or on your email when the stock is bought and just like that, you are currently a shareholder owning part of a organization, actively building your wealth.
To sell your stocks you basically do the same exact steps as Mentioned above, just be certain you select”Sell” rather than”Purchase” when entering the transaction so that you don’t accidentally purchase more shares of this stock you are attempting to sell. (Do not worry, I have been there!)
Active for an extended time period. This is beneficial if you’re confident that your stocks will strike the cost you wish to buy or sell them at, but you do not know whether it will be now or later in the week, and you do not want to be worried about it. You can pick the”Time In Force” drop down and then enter how long you need this order to be great for.
Finally, in the event you get confused about some of this, Always have your agent’s number handy to give them a call. Then they might be more inclined to aid at no price. Not all online brokers provide phone-based support so this is something to look at when deciding which broker to choose. For more on which agent to choose, take a look at chapter 5.