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There is a stock currently trading for $10.00 per share and the price has been falling.
You want to purchase the stock automatically if the price hits $9.50
“Day” means the order is only good for today.
“GTC” means the order will be Good Till Canceled (in could execute 3 weeks from now or more).
Enter the Symbol, Quantity, Type (Limit), and enter 9.50 in the limit field. Click "Buy" and confirm the order.
click to enlarge
The stock will be bought when the price drops to $9.50
You will own it at $9.50 even if the stock continues to go down, lets hope it bottoms there and the price rises after that.
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