online stock trading guide

Selling a stock

by Jeff
(Seattle, WA)

Does the sale of an online stock trade through a brokerage like Scottrade take effect immediately upon you hitting the last "enter" key in the sell process or do you receive the price the stock ends up at upon the closing of the market that day? Thank you.

Jeff

Comments for
Selling a stock

Click here to add your own comments

Selling A Stock - When does execution occur?
by: Larry

Hi Jeff,

Thanks for submitting your question.

Once you click on the last "enter" key, or "submit" order (I'm not sure which one Scottrade has), your order immediately goes live into the market as long as it is a basic order type such as a "Market" or "Limit" order, and the order is for a stock, not a Mutual Fund.

Going "Live" and being executed are two different things though. If you enter a "Market" order, your order will be filled at the next available price as soon as it is submitted. It will not take until the end of the day to be filled.

If you enter a "Limit" order, your order will be filled when, and as long as the price you entered for your "limit" is accepted. This means that as long as someone is willing to buy your shares at the "limit" price you specified, your order will be filled at that time. The price others are willing to pay at any given moment is called the "Bid" price.

If the "limit" price you entered is higher than what others are willing to pay, your order will not be filled.

I hope this answered your question. If not, let me know and I'll try and explain in a little more detail.

Click here to add your own comments

Free Stock Trading Course

Getting Started

Trading Strategies

Trading Resources

Trading Research

Historical Info

Subscribe to Updates

Free Newsletter

Free Simulated Trading

Open a free Simulated Stock Trading account to practice trading, test different strategies and have the chance to win weekly cash prizes.
Sign Up Here

Elliott Wave Videos

Free Elliott Wave Video Lessons. Learn to trade in the direction of the forecasted trend with this free video course.

Promotional Resources

Zecco Trading
Market Club Free Trial