How to BUY Stocks using Robinhood for Beginners | Order Type Overview
I show you how to buy stocks using Robinhood, WeBull, and discuss what the differences between all the order types are: Market orders, Limit Orders, Stop Limits, Trailing Stops, etc. We also buy a share with a live screen share, on both Robinhood and WeBull.
I walk you through step-by-step how these order types work and how to buy a stock!
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Buying a stock requires:
A brokerage account (an intermediary) that allows you to buy and sell stocks on the market.
Robinhood is one of the easiest so sign up for. WeBull is also good for their signup bonus.
After you open a brokerage + link your bank account and transfer some money into your brokerage, you're able to buy stocks - make sure to follow the tutorial on screen.
Order Types:
Market Orders:
Buy in Dollars/Share
Market orders fluctuate and you'll get the "best price available" to you.
This is generally used if you want to buy the stock, don't care what price you pay, and better for long term investors.
Conditional Orders:
Limit Order - buy the stock at a specified price or lower
Stop Limit Orders - if the stock raises to a certain level, execute a limit order, which means to buy the stock at a specified price or lower
Stop Orders - if the stock raises or drops to a certain level, execute a market order
Trailing Stop Orders - if the stock raises or drops to a certain level by a specific amount (usually a trailing percentage), execute a market order.
Let me know if this tutorial helped you out in the comments!
▶️ My name is Humphrey Yang, I've built multiple businesses and am passionate about Personal Finance. If you're trying to build a solid foundation of financial literacy, learn to invest, or become financially free - then I'm here for you! This channel cover topics like getting out of debt, managing money, building credit, multiple income sources, passive income, etc.
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