If you are looking for a step-by-step live walkthrough of how to buy a stock you found the right video now before we go to my actual desktop and you watch me buy a stock this is more so a part two of a two-part series that I've done and the quick kind of quiz and tests you can give yourself is when I say limit order market order stop limit stop market if you have no idea what I'm talking about when I say that then first go and watch the video that I've linked down below and this video will make a whole lot more sense because I am assuming that you know those terms so again if you don't know what I mean when I said those terms watch the video that I've linked down below and then come back to this one it'll make a whole lot more sense now if you do understand those terms then perfect you know the video here that I'm going to go over those assumptions that I've made will make total sense to you so with that being said let's go to my desktop before anything though I want to go over the basic math on well how to buy stocks how exactly does it all work and the great news is I'm probably going to insult your intelligence here I hopefully I am but let's go over a quick math problem here so apples cost $2 each Billy Bob has $10 in his pocket so the question how many apples can he buy again you're just there stick with me here so let's just go through the quick math well he's got $10 in his pocket and they cost $2 each so that means he can buy what five apples right now if you don't understand that math yeah just put a pause on the stock market and go back to like third grade or something not for you Billy Madison fans maybe you got to go I don't know but I'm assuming 99.9% of people understand the math there so when it comes to the stock market when it comes to calculating how many shares nothing fancy at all just instead of apples here replace that with let's just say X Y Z so ticker symbol X Y Z has shares and those shares cost $2 each you have $10 so how many shares can you buy well again instead of this being representing apples and now represents shares so 10 dollars divided by $2 per share equals 5 shares that you can buy so that is the math there are no fancy calculations there are no fancy calculators you know you don't need a financial advisor to figure out how many cheers you can buy all you need is how much money do I want to invest and then you need the other number how many what is the cost per share now maybe write anything well how do I figure out the cost per share well I'll show you how that all works here but again two big numbers how much money do you want to invest what does it cost per share so welcome inside of my online broker account my brokerage account maybe for a different terminology of broker broker brokerage online broker online brokerage all those things one of the same and you know this is what the inside of mine looks like and this is Merrill edge do Bank of America now first right off the bat by no means am i implying that this is the only broker available this is the broker you have to use nothing like that this is personal preference this is all up to you in fact I use them because when you keep certain to minimums in your banking accounts with Bank of America you get 30 free trades you know per month so whenever I'm doing stuff from my retirement if it's always Commission free for me because I keep those a minimum so to me that's what drew me in knows hey I'll take $0 Commission trades now if you don't meet the minimums you know then prices can vary but there's a lot of online brokerages out there so and if you're curious well which one's for me what should I be looking at I will put a link down to how to find an online broker down below this video - and you can kind of check that stuff out but you know again this is not like some sales pitch or anything for Merrill edge this is just who I personally use and the second part here is all brokerages are going to look different so when you sign up for one if it's not Merrill edge you know this screen the inside of your broker is going to look different now the overall dynamics the overall you know key components are the same right you're going to enter in certain amounts and numbers which you'll see and then you buy your stock but you know colors you know how things look you know you know to the human eye yeah those things are going to vary but at the core it's all the same so first up in anything is well we got to figure out what stock you want to buy right because if you don't know what stock you're going to buy then you're not going to know the price and or anything like that so what stock you want to buy and how much money do you want to invest into that stock that's the first question that you're gonna have to ask yourself again what stock how much money do I want to invest for me I've determined I've been watching this one for a while but I want to invest and put our o st so you can see with Merrill edge you know it auto populates and you know the name of the company right there so I'm going to click on that and after that loads you can see that we had this pop-up window right here that form and that's going to give us some very important information but before you get to any of that information the first thing is that well as I said I want to buy some shares so action what sort of action do I want to take well I want to buy so I want to buy our OST that's how that works now next part here's where the math comes in quantity how many shares do I want to buy and the cool thing here is they have a calculator so I'll just click on that and this is where we're going to go through it and the nice thing about this is it lets you know what the price is so right now with Merrill edge it tells you that the price per share is fifty eight point six four but actually let's not even use that because your broker may not have it so we'll just go to the old school school route here so looking here at the information we've got to look down here and see what the price actually is so the price right here you can see that's going to be that's going to be the price of the current shares right now right around fifty eight sixty two I say right around because prices are always fluctuating but that's going to be the number that we can use and what I always like to do is just go a little bit above there because like I said prices are fluctuating so you know give yourselves a little bit of leeway so what I'm going to do is let's just run the calculation on 5875 now how much cushion if you want to do 5865 that's up to you if you want to do fifty eight seventy that's up to you if you want to do 58 62 right on the dot that's fine but remember prices are always changing so you may not get fifty eight sixty two because who knows maybe written the new price right now is 58 65 for example and again if you watch that previous video that'll make you know more sense in terms of you know how the prices and such are changing but for me I want to do five hundred dollars so let's bring over this calculator and this is just simply what comes with Windows so you know nothing fancy here so like I said I have five hundred dollars in my pocket and apples cost fifty eight I'm going to use 75 now of course they're not apples they're shares but fifty eight seventy-five and that equals eight point five now if all you have is five hundred dollars then you always need to round down now you can't go and buy eight point five one chairs so but if all you have is literally five hundred dollars then you can't go and buy nine chairs you're going to have to round down to the nearest number and that is eight so you would have to get eight shares in this situation now I do have more than 500 dollars so I'm just going to go ahead and round that up and pick up nine chairs but again I want to reiterate that if all you literally have is $500 then you can't round that up to nine because well then you're not going to have enough money to make the purchase you would have to round down even if that says you know eight point nine nine nine you would sell up the round down to eight because well you don't have enough money for nine shares so just one thing to keep in mind but in my case since I do have more than $500 I just want to round that up and I'm going to buy nine chairs now order type and this is where definitely the previous order comes into play but I'm going to select limit again what does limit mean well hopefully you watch that other video so you know exactly what that is and like I said I want to put it in fifty now ideally I'm going to get a better pricing right now it's actually warning me the limit price is entered above you know what the current price is but that's fine what this I'm just saying I don't want to pay anything more than fifty 875 but ideally I'm going to get filled meaning I'm going to get more shares or I'm going to get my shares for less than fifty eight seventy five but I'm going to put that in there again if you want to do fifty eight seventy at that cushion or if you want to do 58 65 actually let's do 58 65 and we'll see if I can get any shares if for that price and then finally duration meaning how long do I want it to last well I can just let that order sit out there for a day or I can let that order sit out there for thirty days for this I'm just going to do a day next we're going to preview the order so you can see right here that the entire amount that I would be putting in would be five hundred twenty seven dollars and 85 cents as I already explained my Commission is zero because of you know the cool stuff that Bank of America offers but that is the current you know amount of money estimated I should say because you know that the share price is always changing but estimated going to be right around five hundred twenty eight dollars and you know that you can go through everything you know it's your account the action is to buy the company name and ticker symbol so you see all that stuff it's just letting me review it one final time and then you can hit submit so again it's just here is the screen it's acknowledging that the order did indeed happen it's given you know even the order number and all that stuff so it's just giving you a list of everything that happened now we don't know if I got any shares yet this is real time so I actually have no idea if I got any shares but so now I want to come down here and click view order status and let's see I bought a you know TJX before the video got ruined but our OST right here executed and it got executed at 58 dollars and 61 cents so I do now officially own nine shares of our OST at a price of 58 dollars and 61 cents then earlier you can see about looking at the timestamps about 20 minutes prior to this video here is this happened at 1225 I bought seven shares at a price of 70 48 of TJX so two different orders there but you know the one that you saw was our OST and that's it that's how you buy stock online step-by-step-by-step very straightforward very intuitive you know the drop down menu menus make it quite easy and you know worst case will clay what happens if I try to buy more stock you know than what I have money for well then your broker is just going to say it's going to correct you it's gonna say no you can't buy that much because you don't have you know the proper funds in your account so it's not the end of the world you're not going to get thrown in a jail if you actually try to buy more shares and what you can can pay for so you know worst case scenario it's just going to reject your order and then you might have to do a new calculation so it's not like every little thing is do or die or anything like that just take it one step at a time go through the directions and you know that is how you do it and the reverse opposite is true for one you'd sell when it comes to action you would just click the cell instead of buy and then everything else you know remains the same so any questions or comments or anything like that you can leave those down below but yeah that is how you buy a stock online with an online brokerage if you are interested in trading alongside me and other traders then I do offer a private trading community known as the inner circle so the two images that you see on the screen the one image if you click on it it will take you to the inner circle page and give you all the details about it the other is going to be a behind-the-scenes tour that I personally give so you can see exactly what you are going to get with the subscription so if that sounds like something that could add value to you as a trader then go ahead check it out and by all means let me know if you have any questions
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