Order Types Explained: How To Use Them To Save Money

[@alwAudio]

This was excellent, I've used limit orders in the past and often wondered about the mechanics behind the scenes. Thank you

[@Pensioncraft]

Hi @alwAudio I'm glad you found the stuff about the order book helpful. I think it gives a deeper insight into what goes on when you trade. Thanks, Ramin.

[@ianschofield8259]

Great content, well explained with clear examples. Thanks very much Ramin.

[@Pensioncraft]

Hi @ianschofield8259 thank you! Ramin

[@Andrei-re3dm]

Hello PensionCraft I want to ask something about this video. At 3:56 there is an image on the left. I think it should be ask you sell---------bid you buy.

[@Pensioncraft]

Hi @Andrei-re3dm the rhyme I find helpful is "bid to get rid" i.e. sell. For instance, a quote of 50.25/50.30 (bid/ask) means you can sell at $50.25 or buy at $50.30. As market takers we sell low and buy high because the market maker profits from the other side of the trade. Thanks, Ramin.

[@venil82]

Useful content, even though i already knew this

[@menger88p]

I trade once or twice a year, today I've executed a limit order, but thanks for the video

[@Pensioncraft]

Hi @menger88p well done! Thanks, Ramin.

[@OctavianGuzu]

Trail Stop orders or Trail Stop Limit orders are also useful for taking a "guaranteed" profit or for limiting the maximum possible loss without limiting the maximum possible gain.

[@Pensioncraft]

Hi @OctavianGuzu that's a good point and I did consider mentioning them but the video was quite long already. Thanks, Ramin.

[@katsaplias2003]

Is a different if you buy a stock in a european exchange insteed of US ?

[@Pensioncraft]

No @katsaplias2003 exchanges across the world operate in the same way (order books) but there is variation in the order types offered by brokers. Some only offer market orders while others offer the entire range of order types I discuss in the video. For beginners this can be confusing which is why market orders are the default. Thanks, Ramin.

[@PH-dm8ew]

love your show. I have learned so much from it. My biggest problem is trying to decide how to draw from my various funds to provide income. I have only a small amount in a brokerage account and the rest is in stocks, bonds, and US treasuries. Any suggestions of how i can decide what the best way to generate income for my situation is?

[@Pensioncraft]

Hi @PH-dm8ew unfortunately if you don't have much you can't draw much income without exhausting your savings. There really isn't any way around that. Thanks, Ramin.

[@JamesMarkWright]

Is that a deliberate typo just so I comment? Well you got me...

[@johnristheanswer]

20% saving on the spelling.

[@Pensioncraft]

Hi @JamesMarkWright where was the typo? Thanks, Ramin

[@johnristheanswer]

​@@PensioncraftThe video title strap line was missing a ' y ' on ' money '.

[@marcm1088]

MO (Market Orders) - Execute immediately at the best available price but may experience slippage (unexpected price changes). LO (Limit Orders) - Specify a price for buying or selling, ensuring price certainty but risking partial fills or no execution if the price is not reached. GTC (Good Till Cancelled) - Orders stay active until they are either filled or manually canceled. IOC (Immediate or Cancel) - Executes as much of the order as possible immediately, and any unfilled portion is canceled. AON (All or None) - The order must be fully executed, or it won't be executed at all (no partial fills allowed). FOK (Fill or Kill) - The order must be fully executed immediately or it is canceled entirely. SLO (Stop-Loss Orders) - Automatically sell a position to limit losses when a specific price is reached, but may result in poor execution if prices recover quickly after a temporary drop.

[@PRIVID6666]

Everything I've always wanted to know, but never dared to ask...

[@Pensioncraft]

Hi @PRIVID6666 8-) Thanks, Ramin.

[@GoodEvening62]

So many bots on KZbin now trying to pump trashcoins! 🤦‍♂

[@Pensioncraft]

Hi @GoodEvening62 I just blocked 52 spamming accounts and deleted all their comments. Thanks, Ramin.

[@GoodEvening62]

@Pensioncraft What a pain, I fear that the battle against crypto bots is not one we will win unfortunately 😂 keep up the good content mate 👍

[@tancreddehauteville764]

The problem is that when you are buying and selling funds in a SIPP it's just a gamble, you cannot set conditions. Settlement is normally two working days, so if you're unlucky you could lose thousands on a trade.

[@nighttrain1236]

You shouldn't be 'trading' funds.

[@palmtree-e2l]

Surely you just buy and hold funds for a minimum 5 years?

[@mw01908]

Not with a Freetrade SIPP, you can trade instantly and do stop losses, limit buys and sells etc

[@mw01908]

@@nighttrain1236 Who says? You hold and suffer a loss while traders make money.

[@nighttrain1236]

@@mw01908 not with funds, I think? It's the fund that has to cash you out not a market maker.

[@DavidYoung81]

First