Help with orders for newbie...

P

palden

Hi all,

I'm new to trading ...

Would appreciate if anyone can offer some basic help in understanding how to buy and sell please ?

I read and understood what market and Limit buy orders are but after some responses i'm still Not sure how to close out a trade...

Sorry if it sounds stupid but here goes :-0


1.)

If i bought 10 Shares of ABC Stock. It rose by $1. I want to sell it now for a profit.
Do i sell 10 Shares of ABC Stock at a Limit price of a dollar above my purchase price ?

( Which is not the same as selling at Stop price ? )

2.)

If i bought 10 Shares of ABC Stock. It plunged by $1. I want to sell it now for a loss
Do i sell 10 Shares of ABC Stock at a Stop price of a dollar below my purchase price ?

( Which is not the same as selling at Limit price ? )


3.)

If Above examples are correct, then it's only buy and sell @ limit and stop orders.

Does Selling @ Stop price refers to stop loss order then ?

Thanks in advance for anyone's kind help :)
 
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