Order - Revision history

Rhody Trader: /* Order variations */

2005-10-04T17:30:37Z

Order variations

2005-10-04T17:25:47Z

Order variations

2005-10-04T13:15:20Z

Order variations

2005-08-10T16:43:00Z

2005-08-04T17:27:52Z

Day order

←Older revision		Revision as of 17:27, 4 August 2005
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	==Day order==		==Day order==
-	Unless you give your broker specific instructions to the contrary, orders to buy or sell a stock are "[[day order]]s," meaning they are good only during that trading day. Orders that have been placed but not executed during regular trading hours will not automatically carry over into after-hours trading or the next regular trading day. Similarly, day orders placed during after-hours trading can only be executed during that after-hours session. If your order is not executed during a trading session, you will have to place a new order in the next trading session.	+	Unless you give your broker specific instructions to the contrary, orders to buy or sell a stock are "[[day order]]s," meaning they are good only during that trading day. Orders that have been placed but not executed during regular trading hours will not automatically carry over into [[after hours]] trading or the next regular trading day. Similarly, day orders placed during after-hours trading can only be executed during that after-hours session. If your order is not executed during a trading session, you will have to place a new order in the next trading session.

	==Good-till-cancelled Order (GTC)==		==Good-till-cancelled Order (GTC)==

2005-08-03T18:43:11Z

Order variations

2005-08-03T18:42:50Z

Order variations

2005-08-03T18:41:37Z

Good-till-cancelled Order (GTC)

←Older revision		Revision as of 18:41, 3 August 2005
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	==Good-till-cancelled Order (GTC)==		==Good-till-cancelled Order (GTC)==
-	Unlike day orders, a good-til-cancelled (GTC) order is an order to buy or sell a security at a specific or limit price that lasts until the order is completed or cancelled. A GTC order will not be executed until the limit price has been reached, regardless of how many days or weeks it might take. Investors often use GTC orders to set a limit price that is far away from the current market price. Some brokerage firms may limit the time a GTC order can remain in effect.	+	Unlike day orders, a good-til-cancelled (GTC) order is an order to buy or sell a security at a specific or limit price that lasts until the order is completed or cancelled. A GTC order will not be executed until the limit price has been reached, regardless of how many days or weeks it might take. Investors often use GTC orders to set a limit price that is far away from the current market price. Some brokerage firms may limit the time a GTC order can remain in effect and [[open order\|open]].
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	==Order variations==		==Order variations==

2005-08-03T18:40:45Z

Order variations

2005-08-03T18:40:25Z

Market order

←Older revision		Revision as of 18:40, 3 August 2005
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	==Market order==		==Market order==
-	A market, or [[at the market]], order is an order to buy or sell at the current market price.	+	A market order is an order to buy or sell at the current market price.

	The advantage of a market order is you are almost always guaranteed your order will be executed (as long as there are willing buyers and sellers).		The advantage of a market order is you are almost always guaranteed your order will be executed (as long as there are willing buyers and sellers).

-	The disadvantage is that you will pay the [[Spread\|spread]] and that you may experience [[Slippage\|slippage]]. This may be especially true in fast-moving markets where market prices are more volatile. When you place an order "at the market," particularly for a large number of shares or futures contracts, there is a greater chance you will receive different prices for parts of the order.	+	The disadvantage is that you will pay the [[Spread\|spread]] and that you may experience [[Slippage\|slippage]]. This may be especially true in fast-moving markets where market prices are more volatile. When you place an order "[[at the market]]," particularly for a large number of shares or futures contracts, there is a greater chance you will receive different prices for parts of the order.

	==Limit order==		==Limit order==