|Category: Beginner||Posted on: September 17, 2011 by: pseacademy_administrator||Comments: 0||Attachments: 0|
What basic information do I need to provide my stockbroker
when posting an order?
When posting an order, you must tell your stockbroker the name of the listed company or the symbol of the stock to be bought or sold, the price you are willing to buy or sell a specific stock and lastly, the number of shares to be traded.
• Buy or Sell
Choose BUY to purchase shares or SELL to dispose shares.
• Number of Shares
Indicate the number of shares to trade—must be a whole number bigger than zero. All buying and selling orders are subject to a minimum number of shares as prescribed by the board lot table instituted by the PSE. Prices in the market may fluctuate according to the set intervals based on the price level of the shares. See the NEW PSE Board Lot Table.
• Stock Symbol
State the name of the listed company or the symbol of the stock to be bought or sold. Go to Stock Symbol Lookup.
Indicate the highest price you are willing to buy or lowest price you are willing to sell the stock to be bought or sold. Price may be specified or based on the market depending on the type of order you want to post.
• Order Type based on Price
The most common order types based on price are market (prevailing market price) and limit (specified price) orders. See Order Types.
• Order Type based on Expiration/Validity
Traders have access to many different types of orders classified according to validity such as Day, Good Till Cancelled (GTC), Good Till Date (GTD) and Good Till Week (GTW). See Order Validity Types.