What is the stop limit and the act price on TD Ameritrade?
Asked 4 years ago
I'm new to Ameritrade, and I want to buy a particular stock. I tried putting in my order (quantity, "day"), but it wouldn't let me buy on RH. It told me that I had to put in a "stop-limit" order. I looked up what I should do next and it said that I should set the "act price" at the highest point I was willing to go. It then accepted my order. At the end of the day, my order didn't go through and it never reached my "act price", which I THOUGHT meant the maximum price per share that I was willing to buy. I have read and trying to do thorough research before typing out a story here. Please help educate me!
Andia Rispah Igobwa
Tuesday, October 12, 2021
Try to enter your order as a limit order and put the highest price you're willing to pay.
You can also set the order for the day, day+, extended hours, or good till canceled (GTC).
If you only set for the day, your order will expire if it can't meet your price... But you'll have to set another limit the next day. If the price is moving up fast, you can do a market order to get you in, but you won't know the price until it's filled."
Andrew Moran
Thursday, October 14, 2021
The stop price is a price that functions above the market price of the stock. Essentially, you can pick the price range when you execute the order.
Put simply, you want to buy or sell Acme International at [insert number here], but not any higher or lower than [insert number here].
So, when you are executing a trade on TD Ameritrade, you would be better off setting it as a limit order and inserting the highest price you want to pay.
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