First time buying a stock. question about limit, stop, AON, etc...?

Question

So I've done my research and read some books. I do want to buy intel (INTC) stock very soon. I signed up for a brokeage account and very close to buying stocks for the first time. My question is.

If i want to set my own price, then I would use limit right?

so I would put 20 dollars(thats the amount I want to buy it at) under limit, what would i put under stop? also for duration, i shoudl just put GTC right? because I plan on buying it for 20 for awhile.

Also its a good idea to have the AON checked so that I can buy all or none of it. : )

Answer 1

<<<If i want to set my own price, then I would use limit right?>>>

Correct.

<<<so I would put 20 dollars(thats the amount I want to buy it at) under limit>>>

Correct.

<<<what would i put under stop?>>>

Usually you would leave the stop value blank. If you specify a stop value you will have either a stop order (if "limit" is left blank) or a stop limit order (if "limit" as well as stop is specified). A limit order acts a a trigger and your order will not be submitted until the stock price crosses that price.

<<<also for duration, i shoudl just put GTC right? because I plan on buying it for 20 for awhile.>>>

It is up to you. I usuall use day orders, but there is nothing wrong with using a good 'til cancel (GTC) order.

<<<Also its a good idea to have the AON checked so that I can buy all or none of it.>>>

Usually you do not want to check AON. That decreases the chances of getting your order filled.