Take it to the Limit!

So today, as I was thinking about all the opportunities lost from holding on to Citi, I decide I would try a new type of trading. Some of you may be aware of Limit Orders, but for me, this was my first one.

Brief Lesson: Limit orders are orders that you place for a certain amount to guarantee a price to buy or sell.


For instance I wanted to sell Citi but I didn't want to do it at the current market price of $3.18(also the markets are into after hours, since the markets close at 1 PM PST). So I decided a share value I would be willing to sell my shares which is $3.30 a share. The brokerage will then sell my shares for exactly $3.30 automatically when they reach that price. This saves me from having to pay attention and sell them manually.


As you can see from the summary, I am going to end up with $105.55 after commissions. While this is indeed a loss, I am still up on my account! When I made a Sharebuilder account I was offered $50 free if I made a deposit. My account was credited the $50 earlier this week. So with a initial $150 deposit, and after losses and commissions, I will be on top by about $12! WOO!

Of course I would have liked to have made more money then just what was given to me, but considering all the learning and mistakes I made I am pretty pleased; I am sure I could have lost a whole lot more.

Keep in mind though, Citi is still in my account until the price gets up to 3.30. I can't be sure if that will happen anytime soon, but one can only hope.

So with my Limit Order in place, ATVI doing well, and a free 50 bones, I'm feeling pretty good!

Heres to the weekend!

-tCT