More about using Orders for trading on Etoro (for beginners). Here's a link to the site: http://etoro.tw/2ijxtbg
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Orders are one of the basics of trading, and beginners to social trading (on Etoro in this video) need to be aware of some of their features in order to make the most of their money. It's really not that complicated, there's just a few things to know about them...
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So I left something out of the last video (again) - All assets are traded on their own exchanges... So Barclays is traded on the London Stock Exchange, Tesla is traded in New York, and all the other stocks and other assets have their own exchanges (some like cryptos are traded 24 hours per day, 7 days per week, but that's not the norm.)
If you buy a stock which is traded on the New York stock exchange and you click the button to open the trade while the New York stock exchange isn't open, then Etoro will automatically turn it into an order to be opened 'At Market'. What this means is that it will open your new position for you at whatever price the asset is trading at when the market it's traded on opens. To find out more about when each of the exchanges open, just check in Google and you'll easily find the info.
New York opens at 3.30 pm if you're in Central Europe (an hour earlier if you're in the U.K)
When you place an order, however much money you've stated you want to spend in the trade is automatically removed from your available balance - it's kept to one side by Etoro waiting for your desired price to be reached and for your new position to be opened. Whilst waiting, you can't use that money to copy other people, or to place new trades or even to withdraw - it just waits for either:
A: The order to be fulfilled
B: You to cancel the order manually
If you cancel it, the money will be returned to your available balance with no charge. So be careful not to tie up all of your money in unfulfilled orders! Remember your money needs to be working for you in trading...