8. Indicate the duration of the order.
Select an entry from the Duration drop-down list box. Day means the order is good for a day, and GTC, which stands for “good ’til canceled,” means that the order stays outstanding until either it’s executed or you cancel it. After you have described in detail an order you want to place, click a Send, Place, or Pre-Submit button. Shows a Pre-Submit button. The online brokerage service then displays a confirmation window that describes your order.
Use this window to review the order description and make sure that the order is as you want. The Verify Order window typically also identifies the estimated commission and any fees, as well as the net proceeds you will receive. Assuming the order is correct, click the Place Order, Order Now, or Submit button. The brokerage service then places your order.
Probably within a few seconds your order will be executed and you will have either sold or purchased securities. The online brokerage service may provide you with a Web page that lists your pending orders. Typically, you can use this pending order Web page to monitor which orders you have outstanding. You will also typically have a Web page that lets you confirm the details of any executed orders.
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