Sell a Stock

There are multiple ways to sell stock using the Direct Pro platform. The most common way utilizes the Market Depth Window (since you can both quote and trade stock there). The instructions given here use this method. You can sell stock according to number of shares desired, or the dollar amount you wish to gain.

Other ways to sell a stock include:

1. Right-clicking on the Portfolio Positions window and selecting "Close Out Selected" or "Close Out All," and
2. Creating Hot Keys to sell stock with a key command.
3. Creating a custom strategy to exit positions using Trade Strategies, and
4. Selling multiple stocks at a time using Baskets.
5. To sell a stock, you must first hold a position. To view your currently held positions, select Portfolio from the Feature drop-down menu, and click the Positions tab.

Place a Sell Order (for a set number of shares)

1. Select the Market Depth Window from the Feature drop-down menu.
2. Enter the stock symbol of the company and the number of shares you wish to sell in the Order Entry Window.
3. Select an Order Type from the drop-down menu.
   (See Advanced Order Options for information on other choices in these fields.)
   
   
   
   
   
4. Select a Route and Time-In-Force from the drop-down menus.
   (See Set "Time In Force for information on TIF.)
   (See Choose a Route for information on additional Routes.)
5. Click "Sell" to save your pending transaction.
   "Change Order" and "Cancel Order" options are also available here.
6. An Order Verification page will pop up. Click "Submit" to place the order and close the window.
   
   Click the "Do not show this window in the future" check box if you wish to eliminate this step from the order process.
   
   
7. After submitting a limit order to the market, a black "My Order" line will appear on the Market Depth at the price where your order entered the market. This line will remain until the order fills. Buy-side orders appear on the left of the book in green type. Sell-sides orders appear on the right of the book in red type.

Place a Sell Order (for a specific dollar amount)

The Order Entry Bar can be used in conjunction with the Trade $ Amount  to determine the amount of shares you can sell for a specified dollar amount.

1. In the Market Depth Window, enter the stock symbol you wish to trade into the Quote Bar to get a quote. The Order Entry Bar will pre-fill.
2. Check the box next to Trade $ Amount located on the Order Entry Bar.
   
   
   
   
3. Enter the dollar amount you wish to trade
4. Click Calculate Shares to estimate the number of shares that can be sold for the dollar amount entered. (See note below.)
5. The Order Entry Bar will prefill with the number of shares,  stock symbol and  price and set the order type to Limit.  Limit orders are recommended, but Market can be sent. (Click here to learn how to customize this setting.)  The amounts entered will continuously  update to reflect current market conditions. (The Inside Ask will pre-fill for buy orders; Inside Bid for sell orders )
6. Click Sell to send your order.
   
7. After submitting a limit order to the market, a black "My Order" line will appear on the Market Depth at the price where your order entered the market. This line will remain until the order fills. Buy-side orders appear on the left of the book in green type. Sell-sides orders appear on the right of the book in red type.
   

NOTE:  Be aware that even when using the Trade Dollar Amount tool, your order may not trade to the penny. There are several reasons for this:

1. Since fractional share amounts cannot be traded, amounts are rounded down to the nearest whole share.
2. If your order is a Limit order, the trading platform holds a certain dollar amount in reserve to cover any commission and/or miscellaneous  fees. By default, this amount is $25.00 for limit orders,  however this  default can be customized to match your commission schedule.
3. If your order is  a market order, the system will  reserve 5-10% of the total transaction amount in order to protect you and your account. (10% for stocks that trade under $5.00;  5% for stocks trading at $5.00 or over)

If you receive an Error in Requested Trade notice, you will need to recalculate shares or increase your reserve on limit orders.

Monitor the Progress of Your Order

1. Select Portfolio from the Feature drop-down menu.
2. Click the Open Order tab. Your order appears in this list until the transaction is complete. The ”Status” field records the current state of your order, and reports when your order is Received, Submitted, Routed, and Executed.
   
   Similar information can also be found in your Portfolio under the Trade Journal tab. (Note the ”Unique Order Number” attached to your order. This number will appear every time the order is referenced.)
   
   
3. When you order has been completed, your newly held position will appear in your Portfolio under the Positions tab.