Upbeat music plays throughout
Video Introduction Plays
Narrator: You can help manage the risk of a trade by placing a trailing stop order
Screen Transitions to Blue Definition Slide
Narrator: A trailing stop order is a conditional order that uses a trailing amount, rather than a specific price like a normal stop order, to determine when to submit a market order. You can set the trailing amount in either points or percentages, and the order then follows or "trails" a stock's price as it moves up. When it drops back within the set trailing amount the trigger will fire and send a market order.
Screen Transitions to Schwab Home Page
Narrator: To place a trailing stop order, click on Trade, and select All-In-One Trade Ticket
Mouse clicks on Trade then All-in-one Trade Ticket
Narrator: To begin, enter the symbol and set the action to sell.
Amazon stock is searched and Mouse selects Sell.
Narrator: Set the desired quantity of shares you would like to sell for this trailing stop order. Then set the order type to Trailing Stop.
Amount of 1 is Entered the Mouse selects Trailing Stop Order from Order type drop down.
Narrator: Select whether you want to use points or percentages, then enter the trailing amount.
Mouse selects Percentage then Enters the Amount of 10
Narrator: Select your timing, Day only, or Good till Canceled.
Mouse selects Good till Canceled
Narrator: Remember, like normal Stop orders, Trailing Stops become market orders when triggered, generally making sure the order is filled, but there's no guarantee of any specific price or price range. The resulting trade price may be above, at, or below the trailing stop's trigger price itself.
Blue Definition Panel appears on Right side
Narrator: You can now click review order
Mouse Clicks Review order
Narrator: it's important to review all order details to make sure they are correct on the "verify order" screen as this is the last opportunity to go back and make corrections prior to placing the order.
Additionally, make sure to read and understand all previously mentioned disclaimers before placing the order If all the details look correct, click "place order" to place your trailing stop order.
Mouse Clicks Continue button on Disclosures and scrolls over the review order page then clicks Place Order
Narrator: Upon submission, the trailing stop order remains active for the specified duration until it's triggered.
Good Till Canceled is highlighted on the order screen
Video outro plays.