There is a lot of feedback from cows. Many types of Futubull orders, 11 types of Hong Kong stocks, 8 varieties of US stocks, what is really necessary?

But if you send me to tell you that mastering the get order type, you can buy Chinese stocks faster and make more profits without looking around... would you be a little excited? Want to find out quickly?

You can see 15 variants of orders, different types of recycling, etc., get order types, develop a variety of options, let you have more Futubull functions, more than one gold bucket ~

First, why are there so many order types?! Is it really necessary?

It is necessary.

First of all, there are 17 types of Hong Kong stock order+US stock order types, which seems like a lot, but in fact we only need to know about 7 order types at most:

LIMIT PRICE, MARKET PRICE, BID X, SPLIT, STOP LOSS X, HIT X, TRACK X.

And with so many different order types, it seems like a hassle, the purpose is really to make it easier for cattle lovers to operate.

Different order types are designed to accommodate the ordering needs of different scenarios, making it easier for users to make fewer options and place orders quickly.

As if you were buying a wedding dress, let you choose the gender, size, color, style, material, design elements, price range... 10 options are not a hassle, but if you have a bride/wedding dress, just choose the size, color, price range, or is it a lot faster.

The idea of the order type is to adapt to the ordering needs of different situations, to help users fill in fewer options, place orders quickly and make it easier for cattle friends to operate.

Today, let's take a look at limit orders, market quotes, bid X orders, and broken stock orders.

Second, the advantages and considerations of different orders.

01 Limit order, the transaction price you said

Limit order, you need to pay attention to a price and the number of buys and sells.

The system will only trade at that specified price and better price. For example, your next limit order, buying 500 shares of Rabbit Hare Company at $11, then it is impossible to trade at a buy price of more than $11. At this time, in the market, if someone sells 10.5 shares of Rabbit Company stock, then it is possible to trade at a buy price of $10.5.

Advantages of Limit Orders: The price has the advantage of trading at a specified price that is better than or equal to the heart meter.

Disadvantages of Limit Orders: Relatively, trades have a waiting time and need to wait for a summary transaction.

Therefore, a limited price list is the best order type for newbies.

02 Market Price, One Step to Trade Quickly

Market price list, just pay attention to the number of orders bought and sold.

And the price is determined by the market price.

The difference with a limit order is that a limit order lines up exactly to match the placement trades, and there is no price deviation.

The market price will quickly match the price of a stock on the market. For example, if you want to buy 500 shares of Rabbit Company stock, someone in the market sells 500 shares of Rabbit Company stock at a price of $50, and it will be traded immediately.

Advantages of market quotes: Buy and sell according to the market price of the counterparty, and trade quickly.

Disadvantages of market price lists: less controllable prices and greater volatility. (In the Hong Kong stock market, market prices are simulated at the five positions of the pairings and prices are relatively manageable. (The relative volatility of U.S. stocks may be larger.)

It should be noted that trading Hong Kong stocks, when you submit a market price of 500 shares, but you may only have traded 300 shares. The reason is: the market price is traded at the market price at an “instant” time. If there are not enough orders in the market, only 300 shares are traded, then the remaining 200 shares will be withdrawn directly. To prevent trading at a price that fluctuates too much.

As an example of exaggeration, you submit a market order for 500 shares of a rabbit company, where there are only 300 sell orders for 50 dollars on the market “right now”, the next second there is a sell order for 100 dollars, then you will only buy an order for 50 300 shares, and not buy the remaining 200 shares for 100 dollars Single.

This is to prevent risk and avoid major losses for users.

03 Auction limit order, auction market price (Hong Kong stock market only), open and close trade at a relatively fair price

Please note that the bid here has nothing to do with the price, but refers to the time period of the transaction.

In Hong Kong stocks, there are two early bid trading periods of 9:00-9:22 and closing auction trading periods of 16:00-16:10. During these two time periods, you can submit a bid limit/market price order.

While the price of the transaction is concentrated together at the order price for all people, at the mid-segment price with the largest number of transactions becomes the transaction price, and all people's orders will be traded at the price.

The trading price is generated at a random time between 9:20-9:22 in the morning bid, or at a random time between 16:08-16:10 in the closing bid period, and then the direct conclusion of the trade.

BIDDING LIMIT ORDERS, IF THE TRADE PRICE IS BETTER THAN YOUR SET PRICE, MAY GENERATE TRADES AT THE BID PRICE, IF THE TRADE PRICE IS LESS THAN THE PRICE YOU SET, YOU MAY NOT TRADE, AND THE MARKET PRICE MAY GENERATE TRADES AT THE BID PRICE GENERATED DURING THE BIDDING PERIOD.

Attention needs to be paid to:

① The time for submitting an order is subject to consideration.

As an example of early bidding, use the counter time of 9.20-9.22 as a node. Assuming a morning bid price is generated today at 9:21:01 a.m., a bid order placed before this can be traded at the trade price, entering a temporary period after summing, the HKEx does not accept orders, and a bid limit price previously set but without a successful summary will be transferred directly to the continuous exchange Easy time, waiting for transactions to enhance market liquidity.

② After the transaction, it is determined according to the queuing policy.

Sequencing is based on price first and then time first. Bid-to-market price limits are matched first, then sorted by time at the same price.

③ No orders may be changed or withdrawn after 9:15 AM, and orders may not be changed or withdrawn after 16:06 of the closing time.

Advantages of Limit Orders: Participate in the auction period of Hong Kong stocks to trade relatively fairly at the maximum number of transactions, mid-range prices.

Disadvantages of limit orders: affected by rules, queues, and may not be traded.

04 Broken Shares (Hong Kong Shares Only) Sell and Sell in Fragment Pool

Usually, when a company distributes dividends, investors may give several shares, a small number, not enough hands, and cannot be traded.

But fractional shares are also stocks, and if you want to trade, use a broken stock order.

Shards here, which can be understood as a “fractional pool”, are all stocks in it. Trading transactions can only be traded in this pool, not mixed with other stocks, so liquidity is poor.

Therefore, shards want to sell, and the probability of trading at the market price is extremely low and there is a certain “discount”.

Fragmented shares are limited in nature and are traded at a preferential and preferred price.

Disadvantages: Inactive, may not be traded; prices are less than ideal.

I heard about this today, whether we have a deeper understanding of prices, market prices, bidding, and stocks. In the next lesson, we will talk about stopping losses, touching, and tracking stop losses, so that everyone can learn to look around less and earn more.