What order types (for options) does my broker need to support?
When trading option positions, we require that all of our order types for stocks be triggered 'conditional' on the underlying stock price behaviour. Not all brokers offer this facility.
Again, it is very important that you are thoroughly familiar with your chosen broker's procedures and terminology.
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What order types (for stocks) does my broker need to support?
For stocks, options, CFDs and Spreadbets if your broker offers a 'demo' or paper trade account you can check out their order procedures and terminology there at no risk. They should also have an FAQ, and should be happy to guide you by online video ...
As a complete beginner how long would I need to spend on this each day?
First work through the on-line training and take notes as you go. Many subscribers go through the education several times. Go at your own pace, its better to understand it than to finish quickly. Once you have a basic feel for it, an hour a day is ...
Are the trades placed before the market opens/during market off-hours or do I have to be present when the market opens?
If you are based in the UK and spreadbetting, we normally recommend that you place your trades during market hours to avoid gapping. If you are based outside the UK and/or trading stocks/options, you can place the trades outside market hours if the ...
How would we put in an order to close out 50% of our position with our broker?
The method to close half the position when first profit target is reached will depend on your broker's platform. Your broker will be best placed to advise on this. Ideally, you will place the opening order conditional on the stock price (or for an ...
Why do I need a 'Demo' or 'Paper Trade' account with my broker?
It is absolutely essential that you fully understand the terminology of your broker (which may vary from ours), and their own methods of opening/closing trades, managing profits and adjusting stop-loss orders. Trading in a 'Demo' account is not the ...