Different order types
An order or stock order (in financial terms) is giving a broker or brokerage firm instructions to buy (sell) or short (short sell) a security. There are several different order types. Traditionally, this was done on the phone or even in person directly to the broker or someone under him. Nowadays it is mostly done online. Different order types can vary greatly between selecting market orders, limit orders and stop orders as well as changing how the order will mature. An order doesn’t mean you’re guaranteed to own (or sell) the stock. It just means that your broker is trying to get it “filled” for you. Filled meaning they will try to fulfill your stock order. For example, if you had a buy order, your broker will try to get you the shares you wanted to buy and thus “fill” or “execute” your trade. Just like in real life, if you try to buy something that no one is willing to sell right now, you will not be able to get it and you will have to wait until someone is willing to sell.
Placing an order
Placing an order on shares is simple. 1. Action: The action will specify whether you are trying to buy, sell, short or cover. You can choose this by clicking on the arrow and selecting an item from the drop-down menu. 2. Short Name: Filling in the symbol will give you a quote below. If you do not know the symbol of the company you are looking for, you can click on the magnifying glass. If you don’t know it either, you can click on the arrow and give you some ideas! 3. Quantity: This is the number of shares you want. Don’t worry if you’re unsure! You can see your estimated cost below and you can use a slider to change the amount you want to get, or similarly, just delete the number and type a new number. 4. Type: This will select the type of order, either a market order, limit order or stop order. 5. Order Period: This specifies how long your order should be active before it expires. – Good for Day will attempt to execute until the end of the trading day. – Good for Cancel will attempt to execute until you cancel the order. – Good for Date will try to execute until the date you select, below you select the date. 6. Limit/Stop Price: This sets the limit or stop price that you use to execute the trade. The tables below are very useful to determine when a limit or stop will be executed, as there is also enough volume!!! Note: Cash is set aside in withheld cash until the order is executed.
Order filling – Trade
For an order to go through, these conditions must be met: – Volume – There must be enough trading volume for your order to be executed. In other words, someone must buy/sell the shares you are selling/buying. The site will use daily volume so the volume will be higher at the end of the day. – Maturity Date – The order must be open. – Limit/Stop – The order must reach the target price you set if you used a limit or stop order. Note: this is after the bid/ask, so even if the last price reached your target, the target must reach the correct buy/sell price. – Trade – The stock you are trying to trade must currently be traded.
!!! Note: fund orders will always remain open until the end of the day. Trades will only be executed at the end of the trading day, between 17:30 and 18:30 ET.
About the Vikingen
With Vikingen’s signals, you have a good chance of finding the winners and selling in time. There are many securities. With Vikingen’s autopilots or tables, you can sort out the most interesting ETFs, stocks, options, warrants, funds, and so on. Vikingen is one of Sweden’s oldest equity research programs.
Click here to see what Vikingen offers: Detailed comparison – Stock market program for those who want to get even richer (vikingen.se)
