I'm new to the whole stock thing and am just messing around with software doing paper trading and learning as i go. I'm using software from realfasttrader.com. Anyway, what I'd like to know is, can I place an order, and have it filled before 10 am or can you only buy and sell starting at 10? Say I see a stock at $20 at 9:30..If I put my order in at 9:30 to buy it, will it accept the order then and there, or hold it till 10?
The stock market opens at 9:30 EST, so if you try to buy a stock at its current "ask" price you will more than likely be filled within several seconds depending on your broker. You can also trade before the market opens on ECNs. I suggest you do plenty of reading before pursuing trading any further. One book for a newbie like yourself:"What Works in Online Trading" by Mark Etzkorn. There are many other beginner books out there, just go to B&N and read up. Tony
The market is 9:30 - 4:00. Then you have extended trading. The thing you want to watch out for is large spreads during extended trading.
thanks guys. See I don't even know what an ecn is or a spread. All I really know is..watch the news, buy low, sell hi.
If this is honestly all you really know, then my suggestion is to pick up a few books, read over a few free websites on trading before worrying about order placements. That kind of basic knowledge unfortunately can kill a trader. I mean this sincerely, not as a flame.
yeah, eventually what I'm going to do after reading some books is sign up for one of those online training courses like at mtrader.com. Anyone suggest anythign esle?
I'd start out with free stuff first. Hardrightedge.com has always been a good place to start...http://daytradingthemarkets.com/ lists a bunch of things to weed through. Check there first. Chris