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Selling stock for dummies

Posted: Sun Dec 30, 2018 2:16 pm
by bb
Accumated few hundred shares of F500 (Fortune 500) stock and want to sell. Assume market order is fine for F500 stock? Assume it is of no benefit to break order up into 2 orders - 1 that is a integer multiple of 100 and then 1 that is not?

Re: Selling stock for dummies

Posted: Sun Dec 30, 2018 2:30 pm
by Shallowpockets
I don't know what F500 stock is, but I would never place a market order. Do a limit order. But first take a look at past price movement. You can price any limit order as you want, but be aware that way outside the trading range may not execute. No problem because you can cancel or change order price at will. You can place it as a day order or longer.
You need to take into account orders volume as well as price. Lots of volume means liquidity. Lots of chances for price change. Low volume, not so much.

Re: Selling stock for dummies

Posted: Sun Dec 30, 2018 2:35 pm
by livesoft
You can review this thread which is not for dummies:
viewtopic.php?t=165732
and see that if you can see the bid and ask differ by 1 or 2 cents, then a market order will be fine.

Do you know how to get a quote while the market is open in order to see the bid and the ask prices?

Re: Selling stock for dummies

Posted: Sun Dec 30, 2018 2:39 pm
by mortfree
If there is a fee to sell, be sure to look for the option to sell “all or none”. Otherwise you could be hit with multiple fees to sell the number of shares you requested.

This answer supplied by a dummy.

Re: Selling stock for dummies

Posted: Sun Dec 30, 2018 3:00 pm
by lstone19
mortfree wrote: Sun Dec 30, 2018 2:39 pm If there is a fee to sell, be sure to look for the option to sell “all or none”. Otherwise you could be hit with multiple fees to sell the number of shares you requested.
Every brokerage I've used only charges multiple commissions if a limit order executes over multiple days. Multiple executions of an order on the same day do not incur additional commissions. OTOH, "all or none" could cause a limit order not to execute when it could have executed as multiple executions. If you place a limit order to sell 500 of XYZ at $50 with "all or none" and there's not buyer who wants all 500, then it does not execute. Don't put "all or none" on it and might immediately sell 200, then a minute later another 100, and the last 200 a minute or two after that as buy orders come in.

Re: Selling stock for dummies

Posted: Sun Dec 30, 2018 3:06 pm
by JoMoney
What is "F500 stock"?
Is that 500 shares of F (Ford Motor Company) ?
Bizarre short-hand for a random Fortune 500 company you're unwilling to disclose?
Confusion with a S&P 500 index fund ?
Something else?

Re: Selling stock for dummies

Posted: Sun Dec 30, 2018 6:29 pm
by bb
Yes I abbreviated Forture 500 as F500.

Sorry for the confusion.

Re: Selling stock for dummies

Posted: Mon Dec 31, 2018 11:45 am
by GrowthSeeker
I could be wrong, but I thought that if your order gets broken up into smaller orders you still only get charged one commission.

I sometimes use market orders. I just did a tax loss harvest and after I sold VTI, I wanted my VOO buy order to be ASAP to not be out of the market very long (it was just under 2 minutes). (this was in Etrade which charges no fee for either, so I can't answer the commission question based on those 2 trades).