Hello and welcome to the Quick Start video for Order Types available in Charles Schwab's StreetSmart Edge platform.
This video will introduce you to some of the order types available in the All in One Trade Tool found only in StreetSmart Edge.
This video will cover Limit, Market, Stop, Stop-Limit, and Trailing Stop orders.
Walk-Limit, Bracket, and Alerts/Contingent Orders will be covered in another video.
Open the All in One trade tool by going to Launch Tools and selecting All in One Trade Tool.
Once you have entered an equity symbol in to the All in One trade tool, the order ticket is ready for your instructions.
Let's start with Limit order. A limit order is an order to buy or sell a stock with a cap on the maximum price to be paid or the minimum price to be received (the "limit price").
Let's say you've entered the number of shares you want to buy or sell.
Click on the Order Type drop-down menu and select Limit.
The Limit Price field appears and is where you will enter your "limit price".
Next, let's see the Market order. A market order is an order to buy or sell a stock at the market's current best available price.
Click on the Order Type drop-down menu and select Market. When you select Market, the field to enter a price goes away because you want the next available price.
Next, let's see the Stop order. A stop order is an order to buy or sell a stock at the market price once the stock has traded at or through a specified price (the "stop price").
Click on the Order Type drop-down menu and select Stop.
The Stop Price field appears and is where you will enter your "stop price".
Next, let's see the Stop-Limit order. A stop-limit order triggers the submission of a limit order, once the stock reaches, or breaks through, a specified stop price.
Click on the Order Type drop-down menu and select Stop-Limit.
When you select stop-limit, 2 price fields appear: a stop price and a limit price.
Lastly, let's look at Trailing Stop order. A trailing stop order is a conditional order that uses a trailing amount, rather than a specified stated stop price, to determine when to submit a market order. The trailing amount, designated in either points or percentages, then follows (or "trails") a stock's price as it moves up (for sell orders) or down (for buy orders).
Click on the Order Type drop-down menu and select Trailing Stop.
When you select trailing stop, the Trailing Amount field and pts/% selector appear.
This concludes this Quick Start Guide for Order Types for StreetSmart Edge platform.
Please check out the Learning Center, and the Online Help Manual, both of which are located under the Help Menu.
Additionally, you can visit the calendar on Schwab.com/live for a schedule of upcoming live platform videos.
Thank you for choosing Charles Schwab and have a great day!
Many traders find that different types of orders help them enter and exit positions on their terms. Learn about the order types available on StreetSmart Edge®.