Buying Shares with stop loss entry

[Guest FXPunt]

Hi, I am looking to buy shares on a break out above the market. On IG index share platform, would I simply place a 'Stop market day' Buy order ?

 

Thanks

[HannahL]

Hi , thanks for the post!

 

If you are looking to buy at a level higher than the current market price, you would choose one of the Limit orders available, as this means you are working towards a certain price in the market.  The 'Stop Market Order' is solely if you do not have a maximum price to buy at, but just want a set number of shares to be purchased, and this quantity is more important than the price itself.  If you do have a set price limit in mind, then you can choose the type of Limit order to best suit you.

 

If you have more questions about the order types then please do let us know!  You can also call, email or tweet us, whichever is most convenient.

 

Thanks!

Hannah