Simulator How-To Guide: Purchasing Stocks
  1. Simulator How-To Guide: Introduction
  2. Simulator How-To Guide: The User Interface Tabs
  3. Simulator How-To Guide: Purchasing Stocks
  4. Simulator How-To Guide: The Portfolio Summary Page
  5. Simulator How-To Guide: Ticker Symbol Look Up
  6. Simulator How-To Guide: Stock Quote Information
  7. Simulator How-To Guide: Diversified Portfolio
  8. Simulator How-To Guide: Selling Stocks
  9. Simulator How-To Guide: Advanced Trade Types
  10. Simulator How-To Guide: Short Selling
  11. Simulator How-To Guide: Covering Short Positions
  12. Simulator How-To Guide: Cancelling Orders
  13. Simulator How-To Guide: Margin Accounts
  14. Simulator How-To Guide: Buying Options
  15. Simulator How-To Guide: Options Usage
  16. Simulator How-To Guide: Conclusion

Simulator How-To Guide: Purchasing Stocks

Now that you're familiar with your trading account interface, let's go ahead and execute your first stock purchase. We will buy 100 shares of a well-known American corporation, Wal-Mart Stores Inc (NYSE: WMT), using the following steps.

After logging into your Simulator account, click on the "Trade" tab near the top of the screen.

In the Trade Stock screen, type in ‘WMT' in the Symbol field and ‘100' in the Quantity field, leaving all other fields at their default settings, as shown here:

Ignore all the other settings and click Preview Order to proceed to the order confirmation screen:

(*Note that the stock price and all associated numbers may be different than those below since they're always changing due to the inherent volatility of the stock market.)

Take a minute to review the details of your order. As you can see, you are buying 100 shares of WMT at its market price. Your transaction type is Buy Market Order (Buy MO), which means you want to buy shares of WMT at the current market price. In order to simulate a real online trade, you'll be charged a commission of $19.99 per trade. Brokerage firms commonly charge commissions for the service of executing trades.

Click on Submit Order button to confirm your purchase of 100 WMT shares. Your order is now confirmed and will be filled at the first available opportunity. Please note that if you have made your order outside normal market hours (9:30 am – 4:00 pm Eastern Time), your order will be filled at the start of the next trading day. If you place the order during regular business hours, you'll see WMT in your portfolio within 20 minutes. To learn more about why there is a 20 minute delay, click here.

Order Confirmation

After submitting your order, you'll see a page that confirms that your orders has been successfully accepted by the stock simulator.

Furthermore, the stock simulator will also show you the 5 stocks that currently have the biggest gains and biggest losses in the market. This information can be a good jumping off point for other stocks to trade!

Now that you've purchased your first stock, let's review the details of your holdings in the next section.

Simulator How-To Guide: The Portfolio Summary Page

  1. Simulator How-To Guide: Introduction
  2. Simulator How-To Guide: The User Interface Tabs
  3. Simulator How-To Guide: Purchasing Stocks
  4. Simulator How-To Guide: The Portfolio Summary Page
  5. Simulator How-To Guide: Ticker Symbol Look Up
  6. Simulator How-To Guide: Stock Quote Information
  7. Simulator How-To Guide: Diversified Portfolio
  8. Simulator How-To Guide: Selling Stocks
  9. Simulator How-To Guide: Advanced Trade Types
  10. Simulator How-To Guide: Short Selling
  11. Simulator How-To Guide: Covering Short Positions
  12. Simulator How-To Guide: Cancelling Orders
  13. Simulator How-To Guide: Margin Accounts
  14. Simulator How-To Guide: Buying Options
  15. Simulator How-To Guide: Options Usage
  16. Simulator How-To Guide: Conclusion
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  4. Market Order

    An order that an investor makes through a broker or brokerage ...
  5. Box-Top Order

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  6. Firm Order

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RELATED FAQS
  1. How do I place an order to buy or sell shares?

    Read a brief overview of how to open a brokerage account, how to buy and sell stock, and the different kinds of trade orders ... Read Answer >>
  2. What's the difference between a stop and a limit order?

    Different types of orders allow you to be more specific about how you'd like your broker to fulfill your trades. When you ... Read Answer >>
  3. How do you know if a trade placed to a broker is confirmed?

    Learn how to check if trades placed with brokers online or over the telephone have been filled and confirmed. Explore different ... Read Answer >>
  4. What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within ... Read Answer >>
  5. How long does it take a broker to confirm a trade after it is placed?

    Learn about placing trades with a broker and the amount of time required to received confirmation of different types of orders, ... Read Answer >>
  6. Why can't I enter two sell orders on the same stock?

    To answer this question, let's look at a few different situations. You bought a stock for $10 but want to be able to protect ... Read Answer >>
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