A limit order is an order to buy or sell a stock with a restriction on the maximum price to be paid for buy orders or the minimum price to be received for sell orders. If the order is filled, it will only be at the specified Limit Price or better.
Entering a Buy Limit Order
In the Order Entry widget found at the bottom of the web platform, input the following information:
- Symbol of the security
- Quantity - Number of shares you would like to buy. The market that this order will be sent to will be indicated with a label beside the quantity. If the label is MAIN, it is a round lot order and will be sent to the main market. If the label is ODD, it is an odd lot order and will be sent to the odd lot market. Go to this page to know more about main and odd lot orders.
- Order Type - Choose "Limit"
- Limit Price - Enter the highest price you are willing to pay
- Duration / Time in Force - Choose the validity period of your order (Day, GTC, GTD). Read more about duration here.
Entering a Sell Limit Order
- Symbol of the security
- Quantity - Number of shares you would like to buy. The market that this order will be sent to will be indicated with a label beside the quantity. If the label is MAIN, it is a round lot order and will be sent to the main market. If the label is ODD, it is an odd lot order and will be sent to the odd lot market. Go to this page to know more about main and odd lot orders.
- Order Type - Choose "Limit"
- Limit Price - Enter the lowest price you are willing to sell
- Duration / Time in Force - Choose the validity period of your order (Day, GTC, GTD). Read more about duration here.