RetireJapan

I want to sell some stocks in SBI and if tomorrow it's at an all time high and I click sell, which price will it sell at? Now or when the sale goes through in a few days? It's actually in a NISA a/c and I want to sell before the y/e before rebuying, but the question is not NISA specific. Should I set a limit price or something?

banders wrote: ↑Sun Dec 10, 2023 9:41 am I want to sell some stocks in SBI and if tomorrow it's at an all time high and I click sell, which price will it sell at? Now or when the sale goes through in a few days? It's actually in a NISA a/c and I want to sell before the y/e before rebuying, but the question is not NISA specific. Should I set a limit price or something?

Always use limit buy/sell order. Never market orders, unless you know the market and the liquidity.

Market order allows the broker to match to the "best offer", limit order sets a minimum sale price.

You sell at the price, that someone is willing to buy at, it is that simple.

For Equities (shares of stock), the Sell Price is decided when you place the order at market, or when the sale gets triggered by a Limit Order.

For Mutual Fund Units, the Sell Price is decided at the Closing Price on the day following the acceptance of the Sell Order.
If you place an order before 3pm on a Business Day, the Sell Order will be accepted the same Business Day, and the Closing Price of the next Business Day will be used.
If you place an order after 3pm, the Sell Order will be accepted the next Business Day, and then the Closing Price of the next Business Day after that will be used.

Thanks for the replies.

JohKun wrote: ↑Sun Dec 10, 2023 10:42 am May i ask why sell at year end and rebuy?
Can’t see a benefit of wasting the tax free old NISA balance.

These are Apple stocks I bought in 2019 so they are about to come out of NISA. I'm trying to decide the best method to rebuy in the new NISA at least the amount of shares I sell. I watch the stock closely so kind of have a feeling where it's going. It's almost at the ATH, which is why I've started selling now. I want to have ¥2.4m ready to buy at the y/e.

Tsumitate Wrestler wrote: ↑Sun Dec 10, 2023 12:13 pm Always use limit buy/sell order. Never market orders, unless you know the market and the liquidity.

Yes, thankfully I came to that conclusion intuitively. I've seen prices spike downwards momentarily and would hate to get caught in that. I set a limit order last night and of course the stock went down overnight...

Tkydon wrote: ↑Mon Dec 11, 2023 2:42 am For Equities (shares of stock), the Sell Price is decided when you place the order at market, or when the sale gets triggered by a Limit Order.

But selling (on SBI in my case) is not real time, is it? If I place an order when NASDAQ is open, when is the price decided? If I place an order when it's closed, what then?

banders wrote: ↑Tue Dec 12, 2023 2:37 am

Tkydon wrote: ↑Mon Dec 11, 2023 2:42 am For Equities (shares of stock), the Sell Price is decided when you place the order at market, or when the sale gets triggered by a Limit Order.

But selling (on SBI in my case) is not real time, is it? If I place an order when NASDAQ is open, when is the price decided? If I place an order when it's closed, what then?

If you place your order with SBI when the market is closed, it will get executed at Market Open, and that will be the price.

Tkydon wrote: ↑Tue Dec 12, 2023 4:00 am

banders wrote: ↑Tue Dec 12, 2023 2:37 am

Tkydon wrote: ↑Mon Dec 11, 2023 2:42 am For Equities (shares of stock), the Sell Price is decided when you place the order at market, or when the sale gets triggered by a Limit Order.

But selling (on SBI in my case) is not real time, is it? If I place an order when NASDAQ is open, when is the price decided? If I place an order when it's closed, what then?

If you place your order with SBI when the market is closed, it will get executed at Market Open, and that will be the price.

This is another reason why Limit orders are superior. Limit orders can be set to be set til the end of the trading day, end of the trading week etc.

Depending on the stock, and the broker it would be possible for someone to view a market order made after hours, and position themselves to take advantage of it. Resulting in you getting a worse price.

These shenanigans are one of the reasons mutual funds help protect us from ourselves, and others who take advantage of market orders.

While dealing with highly liquid things like VOO and VT etc, these issues are not a worry.

Some useful info there! Thanks a lot.