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Pastimes : Learning To Invest Correctly - A Shared Experience
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To: Fredman who wrote (243)9/16/1998 12:42:00 AM
From: Nazbuster  Read Replies (1) of 253
 
Fred,

You would use a simple limit order to specify the price of a pending trade. If you own the stock and want to sell (higher) at a particular price, you only need to set the limit price. When the stock trades at your limit price, you'll execute.

Sometimes, you want to enter a trade only when the stock breaks out of a trading range. Let's say, a stock trades between 12-14 but looks like it has reached a bottom and might trade up significantly. You could put in a GTC STOP LIMIT order at 14 1/2. This would turn your order into a market order when the stock trades at 14 1/2 (hopefully on the way to 30).

In the other direction, you would put the STOP on a sell order to minimize your loss exposure. If you bought at 12, you might put in a SELL STOP LIMIT 11 1/2. This would turn your sell order into a market order if the price dropped to 11 1/2.

As far as AON, DNR, and FOK, AON is All-or-None, DNR is Do-Not-Reduce, and FOK is what the market has done to me this year. Oops... Fill or Kill.
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