You also have to monitor the company’s share price movements. When you buy shares to hold them over the long term or to benefit from speculating on share price movements, you need to watch for reporting on company performance and keep a close eye on business fundamentals. On most platforms, you can place your order with the click of a button. Once you're happy with your strategy and with funds in place, it's time to get going with trading. Keep in mind in a fast falling market your order might only be filled at a price below your nominated stop loss.
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If your Zip shares hit this price, the order executes and they are sold at the next available market price. You might decide to set a stop loss at $5.70. If the share price drops significantly, for example, the stop loss means you automatically sell out before your shareholding suffers too much damage. In this case you nominate a price at which you decide to sell your shares. Your order is only executed if shares can be bought or sold within your nominated price range.
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The stop price activates the order and the limit price indicates the highest price at which you are prepared to buy or the lowest price at which you are prepared to sell. This is when you nominate a price range within which you want to buy or sell your shares. Once the price drops to $5.74, your limit order will kick in. Let’s say you decide you only want to buy Zip shares at $5.74 or lower. With a buy limit order, your trade will only execute when the share price reaches the price, or lower, that you nominate. The same situation applies if the share price goes up while your order is being executed. You will get your shares at the lower price. You place an order but by the time it executes the share price has dropped to $5.32. Let’s say you place an order for Zip shares at $5.74. In fast-moving markets, these prices can change while you're making the trade. Market orderĪ market order is an order to buy shares at the current market price. Orders are how you tell online brokers what sort of trades you'd like to make, and decide how you'd like your money to behave. This means less volatility, and you win if the market wins, but it is less interesting for those looking to actively manage their investments.ĮTFs which own shares of Zip include Vanguard ESG International Stock ETF (VSGX), Global Equities Account Class R1 (QCGLRX), and FINX - Global X FinTech ETF (FINX). An ETF (Exchange Traded Fund) is considered to be a less risky option because it invests in a group of companies or market indices rather than relying on the performance of a specific company. One big question you'll have to answer is whether you want to invest in shares or an ETF. Take a look at Zip's current share price and make a judgement, but remember you can always buy more when the price drops. You should always have an investment plan, based on what you can afford.
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Step 3: Decide how much you want to invest You can expand your horizons when you become more confident at trading, but never invest an amount you cannot afford to lose, because share prices can be very volatile. It's a good idea to start with a small amount. You need to add money to your account with your online broker before you can trade. Apart from charting, look for things like Zip’s price history, market analyst recommendations, price forecasts, company announcements, earnings reports, etc. Look for a platform with solid research and reporting on each company. Other useful features for new investors include demo trading accounts where you can practice without consequence, and educational guides (preferably in video format). Trading in shares needn’t be complicated, so keep an eye out for a trading platform that is straightforward to use.
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This is quite widely available now, but generally not for shares listed on the ASX.
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Some online brokers will offer free trades.
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These are some of the key features to look for when choosing an online broker. There are many online brokers available, offering various options and features. When you buy shares online, you do it through an intermediary called a broker.