Ive really been enjoying using this app since july 2020. Ive used the ISA account and have bought and sold but im mainly investing for a longer game rather than buying and selling with every price fluctuation.
When i want to now buy a share, there are three more tabs “limit”, “stop” and “stop limit”.
Now i understand these are useful tools for selling before you lose to much, sell at a certain profit ( i think thats Correct?) but i currently dont want this. I simply want to buy whatever shares i want and sell whenever i want.
As mentioned if you want to simply buy or sell at whatever is best buy or sell then continue to use the market order.
The BUY limit is useful when you want to set a max it will buy at, say I wanted to get RR at 104 I would enter a limit of 104 and place the order. It will only fill if it can get 104 or less per share.
The SELL stop is useful as protection. Say I bought in to RR at 98 on the dip. I could set a SELL stop at 100 that way if the price fell back to 100 it would place a market sell on my behalf. Just means you don’t need to stare at the stock all the time to make sure it’s above where you want it to be, and it doesn’t fall under 100 whilst you are making a tea or taking a phone call etc
So stop is an automatic trigger point for it to place a market order
A limit sets a specific min or max you sell or buy for. Note of it can’t get that price it won’t fill. You can set it to keep until the end of the day, or until cancelled.
