A Sell Order page will appear. After finding the desired stock you will see the following screen: When you click “Trade”, the following screen will appear: From here, you can click on “Market Types” in the top left corner and you will find the following screen. In the “Limit Price” field tap on the entry field and enter the limit price. Validate that the Sell Order page has all the right details. This is different from a limit, but sounds similar. Up to $3,500 cash bonus + $0 trades + transfer fee rebate. Suppose you want to sell stock in company ABC, and it currently trades at $5.00 per share. In this article, the different Robinhood order types will be covered in depth. You are worried that the stock may be headed in a downward trend and want to minimize potential losses. You don’t have to watch the stock’s price meticulously. This may not make a huge difference when buying a small amount of shares, but when purchasing hundreds or thousands of shares, a few pennies can make a large difference. Tap on gear icon located on the top right of the order entry page. Stop orders, on the other hand, are the complete opposite. If the stock rises, the trailing price is updated to 5% below the new higher price. For example, if you're selling a stock, a trailing stop order tracks the stock's highest price. A stop limit order combines the abilities of the stop order and the limit order. With a limit buy, you set the fixed price beneath the current price. Page will refresh to the stock or stock option details page. Tap on the Trade button located in the lower right-hand corner. If the price hits $5.50 it will trigger a buy. Trailing stop orders keep track of stock prices, so you don’t have to. Suppose you want to sell stock in company ABC, and it currently trades at $5.00 per share. Understanding the different options available may help you maximize profits. *The following examples are for illustration purposes only, I am not offering advice on any stocks that you should buy or sell.*. If the price of the stock falls to $4.50 a share, then the trailing limit will update to 10% over the new lowest price or $4.95 per share. Suppose you want to buy stock in company ABC, and it currently trades at $5.00 per share. Tap away from the list of options and it will close. You can set a buy trailing stop at whatever percentage you see fit. $0 fees on all mutual fund, stock, ETF, & option trades. It is also a way to purchase a stock when it falls to a specified price or to sell when it rises to a specified price. Tap on the Review button. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. You can set a limit sell to execute if the stock price increases to $5.20 per share. In the below screenshot, you can see we setup a stop-loss order to buy 100 shares of GLD at the market price only if and when the stock price first reaches $125. Robinhood Order Types. A menu list will appear and tap on the Sell button. A limit order can be set to sell a stock you own, or to buy a stock you’d like to own. You set a trailing stop at 5% below the highest price. Now if the price ever rises to $4.95, then the order will be triggered. *The following example is for illustration purposes only, I am not offering advice on any stocks that you should buy or sell.*. You may actually end up purchasing the shares at $5.05 or $4.96 instead of the current price of $5.00. Suppose you currently own shares in company ABC. Understanding the different options available may help you maximize profits. Since the stock is currently at $5.00 a share, the initial trailing price is 5% below that price or $4.75. You think that if the stock reaches $6.00 per share, then it will continue to rise. You think that the stock price could potentially start trending upward, but you don’t want to buy yet until it reaches a certain price. In this order type, you can specify a certain stop price, which if reached, will initiate a limit order. If the stock never decreases to $4.00 per share, then your limit at $4.50 will never initiate. The market does not close for a moment to let you execute the order. But if the price of the shares fall, the trailing price remains constant. One of the reasons Robinhood has become so popular, apart from the fact that you can trade for free, is its ability to allow the user to perform different types of buys and sells not available in other trading apps like Stash or Acorns.