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How to Place Limit Orders
The next type of order I want to show you is the Limit Order. The Limit Order is very similar to the Stop Order, in that you place it on the screen just by clicking the Limit Order button. You drag above the market, and you'll notice that it's in reverse this time because a limit order, the price must come up. Touch this price, then to be profitable, it must drop. So, this would be a Red order, or a Sale order above the market. That's why we put limit orders- to sell above the market. As we slide across the price line or across the strike price, you'll notice that the order line changes to green and this indicates that this is a BUY limit. The market must come down, touch this price and then rally, to be profitable. So, if we place an order above, this would be to bracket the market to go short the market. Again, we hit okay. If we want to come in here and place the Limit Order below the market we're going to get a green order, which would be a BUY order. We hit release, again. We can say, Don't Show Me This Again. Accept the One-Click disclaimer for the Limit Orders. Hit okay. Click the Order Confirmation box. We now have two pending orders, which will be limit orders in our Accounting window.