Updated Wednesday, March 16, 2011



Overview:

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SogoTrade's trading center offers a quality stock trading experience. Buying and selling securities from the redesigned trading center works well. Canceling open orders works perfectly but there is no option to modify orders. Trade confirmations display the date of execution but not the hour or the minute.  Trailing stop loss and trailing stop limit order types have recently been added, giving SogoTrade a respectable number of order types.  The SogoTrade web based trading engine is highly recommend.

Order Types:

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See our Order Types page for an explanation of order types

• Market
• Limit
• Stop Loss
• Stop Limit
• Trailing Stop Loss
• Trailing Stop Limit

Details:

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From the top SogoTrade menu select Trade and then Trading Center to load the Trading Center interface.  We selected to buy 10 shares of Citigroup (C) at a limit price of $4.55 and a duration of GTC (good until canceled).  GTC orders can be customized to be maintained in SogoTrade's system for up to 3 months.  Once everything was set we clicked the Verify Order button (click on images for larger views):


A window appeared showing us our order breakdown, including the expected commission.  Note that order verification can be disabled - a welcome feature for high frequency traders.  We clicked the Place Order button:


Open orders are shown at the bottom of the trading center in the Open Orders tab.  From here orders can be canceled or used as a template to place additional orders but cannot be modified. Canceling orders works flawlessly.

Once our order executed, our new holding appeared in the Positions tab found at the bottom of the trading center.  We decided to exit our position so we clicked on the available link:


This set the order entry panel action to sell and populated the symbol, the quantity and set the limit price to the latest bid price.  Surprisingly, many brokers do not handle this action very well but at SogoTrade this done perfectly.

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