Are we allow to set the stock price that we r willing to pay for ?

[solarv]

I'm a newbie...

Are we allow to set the stock price that we r willing to pay for ?

I dun want to place my order at the market price. Say eg the stock price now is $5, I wanna buy at $4.90, how can I do that ? Is there a way ?

On my platform:
Term: 1)Day Order 2)Good Till Cancelled
Price: 1)Market Open 2)Market Close 3)Limit 4)Stop Loss

Which combination should i use ?
(2) + (3)$4.90 ?

[advantage21]

What you want to use is a Limit order. You just set your price then wait for the market price to match your set price and the trade will execute. The order will expire if price is not met by the end of the trading day.

I don't recommend a Good Till Cancel order, these stay open indefinitely, though most brokers sends you a 30 day reminder.

[solarv]

on my platform: how can I set the limit price, I dun want to go thru. the broker. Can I still do it by myself ?

[advantage21]

on my platform: how can I set the limit price, I dun want to go thru. the broker. Can I still do it by myself ?

I don't know who your broker is, but I'll bet there are some help files or FAQs.

If you can't figure this out, you really shouldn't be trading online.

[solarv]

Im a bit confused with the limit and stop price on the platform, seem like the definitions are a bit different from what I know from Forex Platform.

[confused]

I'm a newbie...

Are we allow to set the stock price that we r willing to pay for ?

I dun want to place my order at the market price. Say eg the stock price now is $5, I wanna buy at $4.90, how can I do that ? Is there a way ?

On my platform:
Term: 1)Day Order 2)Good Till Cancelled
Price: 1)Market Open 2)Market Close 3)Limit 4)Stop Loss

Which combination should i use ?
(2) + (3)$4.90 ?

you want a limit order.

limit order: executed only if a specific price or better can be obtained.
day orders: are limit orders that are valid only for the day.
GTC: are limit orders that remain open until executed.

GO ALL OR NONE! j/k

[solarv]

could i place a stop order and limit order at the sametime, or i have to do it separately