Penny stocks market order

Get Instant Penny Stock Picks from the Authority! So, you have decided that you want to buy some penny stocks of ABC. You need to know the following details for your order to proceed:.

In this case, ABC. You may also need to know the name of the company, which is ABC Corporation for the purposes of our example. This is referred to as 'volume' of shares.

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If you choose market, you do not know what price you will pay for shares, but you will be assured that the trade will go through. Alternatively, you can set a limit price. If there is insufficient selling below that price you may wind up getting none or only a fraction of the shares you wanted.

As well, when you got a recent quote on ABC you saw that there were 9.

Market orders do not require a duration, because since you are willing to take the best available price, your order will be instantly filled when it hits the trading floor. Limit orders do require a duration, and you will get an additional brokerage commission every day that a part of that order gets filled.

To buy 3, ABC over 3 days assuming you only got 1, each day at your limit price would triple your total commission cost. You decide that you want to guarantee to only pay one commission, so you make the order good for the day.

This is called a 'day order. You are now ready to enter your order to buy some penny stocks.

With penny stocks, we highly recommend that if you have the option, you do your very first trade order on the phone with a live broker. Even though most brokerages will charge a slightly higher commission for this service, they will catch any errors you might have made, and can answer any questions. As well, some brokers will even be able to tell you if your order was filled for market orders only while you wait right there on the phone.

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Until your order expires at the end of the duration you have set , or is filled 3, shares of ABC have been bought , your order is considered 'open. Monitor your open orders. You should be able to check these quite easily if you have an online brokerage account.

Watch to see how many shares you have gotten and what price you paid. If at the end of the trading day you have acquired 2, of 3, shares, and your order was good for two days, you may want to cancel the rest of the that the order calls for.

This will help you avoid paying a second commission, in case the other get bought the next day. Peter Leeds Penny Stocks Facebook. All About Penny Stocks Understanding Penny Stocks by Peter Leeds Get Instant Penny Stock Picks from the Authority!

Limit Orders for Stocks - The Daily Reckoning

Buying or Selling In this example you are buying shares, so check 'buying' Buying Selling. Market the Stock Trades On NASDAQ SmallCap OTC-BB Pink Sheets Over-The-Counter Other: You can also buy by the hundred, or in odd lots ie shares, 1 share, 98 shares Order Type Market Order Limit Order.

Market orders will be filled instantly, but you can not be sure of the price you will pay per share. For limit orders you will need to know Your limit price per share: Good till close day order, expires when markets close at 4pm Eastern Standard Time Other: I want my order to remain active until the end of the day on: