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  Key Terms  
 
 
» Market Order

These orders are executed within seconds, at the going rate of the stock at the time the trade request is made (during market hours) or when the market opens, if the request is made after the close of the trading day.
   
» Limit/Stop Order

These orders must have specific prices noted and will not be executed until the market reaches that price. You must indicate whether the limit/stop order is for the trading day only or good until cancelled.
   
»
 Day Order
  This is an order to buy or sell a stock that will automatically expire at the end of the trading day on which it is entered.

 
» Good-till-cancelled Order/GTC

This is an order to buy or sell a stock that remains in effect until the broker executes it or the customer cancels it.
   
»
 Ticker Symbol
  This is an abbreviation by which a security is known for the purpose of trading, getting quotes or detailed information about a particular company.

Example - Microsoft Corp. is MSFT.

To find a ticker symbol, click on ticker look up and then symbol look up on the Quotes page. Type in name of company, then click search. Where more than one company with a similar name exists, check to ensure that you select the correct stock you are searching for.

 
» Quotes

This is a listing of the price at which a security trades. In addition a "current bid" and "ask price" is usually indicated, giving the trader more guidance as to the range of values ascribed to the stock.
   
»
 Ask Price
  The price at which a security is offered for sale.

 
»
 Bid Price

The price that a potential buyer is willing to pay for a stock. It is also an offer to purchase a stock.

 
»
 Buy to open or increase a long position

This is an order to purchase a stock.

 
»
 Sell to close or reduce a long position

This is an order to dispose of or sell a stock.

 
»
 Short Sale/Sell Short

This is the sale of a stock that must be borrowed to make delivery. Short sales usually involve the sale of stocks that are not owned by the seller. The seller anticipates a profit due to a decline in the price of the stock.

 
»
 Short Cover/Cover a short position

This is a purchase of a stock that has previously been sold short in order to close out the position.
 
 
     
   
 

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