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Definition of Screen Terms for Internet -ready Cellular Phones |
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Action |
The type of order for a trade. For stocks, the action can be Buy or Sell. |
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Quantity |
The number of units specified in an order. For stocks the units are the number of shares. |
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Symbol |
An identifier that is used throughout the financial community to identify a security. |
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Order Type (Order Price Type) |
The type of order you wish to place. You can select Market, Limit, Stop Loss, or Stop Limit.
A price restriction that is placed on the execution of an order. Not all price types are valid with all types of orders. Price types include:
-Market
-Limit
-Stop Limit
-Stop Loss
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Market |
An order price type placed on the execution of an order. A market order requires that the best price in the current market at the time your order executes is used to buy or sell a security. |
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Limit |
An order price type that is placed on the execution of an order. Limit restricts the price you pay to buy or sell a security to be a limit price you specify or better. The limit price is specified in a separate Limit field. Buy limit orders state the maximum price at which to buy.
Sell limit orders state the minimum price at which
to sell.
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| Stop Orders |
A sell stop order is placed below the current market price and a buy
stop is placed above the market. Stop loss and stop limit orders
can help investors protect a profit or prevent further loss if a stock moves
in the wrong direction. It is important for investors to understand that
news or market conditions could negatively effect companies and could result
in a sell stop loss order being executed dramatically below a sell
stop loss price or not executed at all with a stop limit order. - Stop
loss orders change to market orders when the stock trades at or moves
through the specified stop loss price. The order could be executed at a
price lower than the specified stop loss price. Stop loss orders
are generally guaranteed an execution if the stop loss price is triggered,
however are not guaranteed a specific price. For example, a stock is quoted at
85 bid and 85 1/2 ask. A sell stop loss order placed at 83 would be
triggered at 83 and become a market order to be filled at the next
available price which could be lower than 83. For example, a stock is quoted at 85
bid and 85 1/2 ask. A buy stop loss order placed at 87 would be triggered
at 87 and would become a market order to be filled at the next
available price which could be higher than 87. Stop limit orders change to limit orders
when the stock trades at or moves through the specified stop limit price.
Once the stop price is triggered, the security must hit the specified stop
limit price for the order to be considered for execution. There is no
guarantee of an order execution. For example, a stock is quoted at 85 bid
and 85 1/2 ask. A sell stop limit order placed at 83 would trigger a sell
limit price at 83 and must trade at 83 to be considered for execution. For
example, a stock is quoted at 85 bid and 85 1/2 ask. A buy stop limit
placed at 87 would trigger a buy limit price at 87 and must trade at 87 to
be considered for an execution. Note: If the stock price keeps moving past
the stop limit price the limit order may not fill at all.
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| Stop Limit |
This is an order price type that is placed on the execution of an
order. Note: Please read Stop Orders. A stop limit order states that an
order executes at a specified limit price or better after the stop price
is triggered. Once the stop price is triggered, the order becomes eligible
for execution. For: - Buy stop limit orders, the price is the maximum
price at which you are willing to buy and must be above the last ask price
Buy stop limit orders become limit orders when the price it triggered -
Sell stop limit orders, the price is the minimum price at which you are
willing to sell and must be below the last bid price. Sell stop limit
orders become limit orders when the price it triggered After the stop
price is triggered, the security's price may continue to rise or fall. As
a result: - Your order may or may not be executed depending on the
security's relationship to your specified stop limit price - Your order
may not be executed at a price that is higher or lower than the stop limit
price Stop limit may not be used with option, mutual fund, or bond
orders.
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| Stop Loss |
This is an order price type that is placed on the execution of
an order. Note: Please read Stop Orders. A Stop loss order requires that
the stop loss price is reached before the stop loss price is triggered.
Once the stop loss price is triggered, a stop loss order becomes a market
order and is eligible for execution. For Buy stop loss orders, the stop loss
price is the maximum price at which you are willing to buy and must be
above the last ask price - Sell stop loss orders, the stop loss price is
the minimum price at which you are willing to sell and must be below the
last bid price.Stop loss orders can only have a time in force of day or
good 'til canceled. After the stop loss price is triggered the stop loss
order becomes a market order, The security's price may continue to rise or
fall and as a result, your order may be executed above or below your
specified stop price. Stop loss may not be used with option, mutual fund,
or bond orders.
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TIF (Time in Force) |
A time limitation that can be placed on the execution of an order. Time in force limitations include:
-Day
-Good 'til Canceled |
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Day |
A time-in-force limitation on the execution of an order. This limitation requires that the order be canceled if it cannot be executed before the current day's normal market close (4 p.m. Eastern time).
-If you place a limit order with a time-in-force of day and the limit you specify is not reached during the current day’s normal market hours, the order is canceled.
-If you place an order with a time-in-force of day
after the close of trading, the order is good until the close of the next trading day during normal market hours. |
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Good 'til Canceled (GTC) |
A time-in-force restriction that can be placed on
the execution of an order. This restriction requires that the order remain open until the order completes or 120 days, which ever comes first. Note: Good 'til canceled limit orders placed with limit prices too far from the current market price of a security will not execute. |
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Trade Type |
This is the type of account. Valid account types for trading are:
-Cash
-Margin |
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Cash |
A trade type indicating that a trade order to buy will be paid for in cash not by borrowing on margin. |
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Margin |
Ability to borrow against securities you own to purchase other securities, cover checks written against the account, etc., up to a specified limit. |
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