Selling a stock at a certain price, also known as a limit order, allows you to specify the exact price at which you’d like to sell your shares. Using ETRADE as an example, here’s a step-by-step guide on how to place a limit order:
How To Sell Stock On Etrade At A Certain Price
- Log In to Your E*TRADE Account:
- Visit the E*TRADE website or open the mobile app.
- Enter your username and password to log in.
- Navigate to the Trading Platform:
- Once logged in, you should find a tab or link that says something like “Trading” or “Trade Stocks.”
- Select the Stock You Want to Sell:
- Enter the stock ticker (symbol) in the search bar or find it in your portfolio.
- Click on the stock once it appears in the results.
- Enter Trade Details:
- Action: Choose “Sell” from the dropdown menu.
- Quantity: Input the number of shares you wish to sell.
- Order Type: Choose “Limit” from the dropdown menu. This allows you to specify the exact price at which you’d like to sell.
- Limit Price: Enter the price at which you want to sell the stock. This is the minimum price you’re willing to accept for your shares.
- Duration: Choose how long you want the order to remain active. Common choices are:
- Day: The order will expire at the end of the trading day if not executed.
- GTC (Good ‘Til Canceled): The order will stay active until you manually cancel it or it gets executed.
- Other settings or options might be available depending on the platform’s features, like trailing stops or conditional orders.
- Review Your Order:
- Once you’ve input all the necessary information, you should have an option to review the order. Ensure all details are accurate, especially the limit price.
- Confirm and Place Your Order:
- After reviewing, click on the “Sell” or “Place Order” button.
- You’ll typically receive a confirmation message indicating that your order has been placed.
- Monitor Your Order:
- Check back in your open orders or order history to see the status of your order.
- Remember, a limit order might not execute immediately. It will only execute when the stock reaches your specified limit price, and if there’s a buyer willing to pay that price.
- Adjust or Cancel if Necessary:
- If the stock doesn’t reach your limit price, or if you change your mind, you can modify or cancel the order as long as it hasn’t been executed yet. Simply navigate to your open orders and make the necessary changes.
Important Notes:
- Liquidity: If the stock is not very liquid (i.e., not many shares are traded), even if it reaches your limit price, there might not be a buyer available.
- Market Conditions: Stock prices can be volatile. If there’s a rapid price change, your order might be bypassed or partially filled.
- Fees: Always be aware of potential trading fees or commissions that might apply.
Always consult the platform’s official resources or support if you’re unsure about any step. The steps above are meant to be a general guide and might differ slightly based on platform updates or specific account types.
