Order type? stocks?
I want to buy some shares of a stock and put them in my IRA which obviously I'm not going to touch for a long time..I'm singular 26. What Order type do I put in? Time in force? conditions?
Answers: <<<Order Type>>>
The two most adjectives, and the only ones you will need, are
Market - buy at the best available price
Limit - buy at the best price available but no more than a cut-off date you specify
Market orders will always be complete, but not always at the best price. Limit orders may not be chock-a-block (the trade may not take place) or may only be to a certain extent filled (you will buy some shares but not the number you specified).
If you are going to simply "buy and hold" and you are only going to buy big widely-traded companies, a flea market order is a reasonable choice.
Otherwise, or if you are not sure, a delineate order is probably the best choice.
<<<Time in force>>>
The two poplular choices are "(good for the) day" directives and "good 'til canceled" (GTC) orders.
Day instructions are usually the best choice.
<<<Conditions>>>
There are many different conditions possible. Two examples are
Fill or Kill (FOK) - immediately swarm the order or cancel it.
All or None (AON) - do not allow partial fill. Trade the total number of shares specified or no shares.
There is no reason you should need to specify any conditions for a "buy and hold" type investment.
That depends on how soon you stipulation the stock. If you're price sensitive, use a limit order, which is the maximum you're ready to pay for the stock.
If you simply want shares and don't care at what price, enter a marketplace order
Who/what is your IRA custodian? You should be asking them.
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Answers: <<<Order Type>>>
The two most adjectives, and the only ones you will need, are
Market - buy at the best available price
Limit - buy at the best price available but no more than a cut-off date you specify
Market orders will always be complete, but not always at the best price. Limit orders may not be chock-a-block (the trade may not take place) or may only be to a certain extent filled (you will buy some shares but not the number you specified).
If you are going to simply "buy and hold" and you are only going to buy big widely-traded companies, a flea market order is a reasonable choice.
Otherwise, or if you are not sure, a delineate order is probably the best choice.
<<<Time in force>>>
The two poplular choices are "(good for the) day" directives and "good 'til canceled" (GTC) orders.
Day instructions are usually the best choice.
<<<Conditions>>>
There are many different conditions possible. Two examples are
Fill or Kill (FOK) - immediately swarm the order or cancel it.
All or None (AON) - do not allow partial fill. Trade the total number of shares specified or no shares.
There is no reason you should need to specify any conditions for a "buy and hold" type investment.
That depends on how soon you stipulation the stock. If you're price sensitive, use a limit order, which is the maximum you're ready to pay for the stock.
If you simply want shares and don't care at what price, enter a marketplace order
Who/what is your IRA custodian? You should be asking them.