There are two fundamental execution options when buying or
selling shares, you can place the order at market or at limit.
Market Orders: These transactions will usually execute as quickly
as possible at the current market price ie a SELL order will match the highest buyer
and a BUY order will match the lowest seller. However, it is important to note that these are market-to-limit orders.
Market orders are optimal in larger stocks with substantial volume and low volatility (price movement), when the primary goal is to execute the trade immediately. However, please be aware for stocks that are moving quickly, or have a low level of liquidity, market-to-limit orders convert to a limit price when they are entered, therefore they may not be completed at the desired price if there is insufficient volume at that price step.
Limit Orders: Limit orders allow you to choose the price you wish to
purchase and/or sell your shares at.
Order Expiry Options:
In addition to order type, price and volume, you will be asked to set one of the following expiry options to determine how and when your order will expire.
GTC - Good Till Cancelled - the order will stay in the market until is cancelled
DO - Day Only - the order will expire after the current trading day and will need to be reinstated
GTD - Good Till Date - the order will stay in the market until the specified date