File:Wall Street guide - (1902) (14781324101).jpg

Identifier: wallstreetguide00jlmc (find matches)
Title: Wall Street guide /
Year: 1902 (1900s)
Authors: J.L. McLean & Co.
Subjects: Stock exchanges
Publisher: New York: J.L. McLean
Contributing Library: Columbia University Libraries
Digitizing Sponsor: The Durst Organization

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ce. Failureto do this puts a great risk on your broker, and he isobliged and allowed by the rules of the board to closeall your trades to prevent or stop this loss. ALL SUMMED UP. After buying, therefore, 1. If the market advances you can sell and realizeprofits and have margins released. 2. If margins are kept good on all declines, and themarket then advances above your purchase price, youcan sell, realize profits, and have all margins released. 3. If the market declines and you sell at a lowerprice than you have bought, the loss will be deductedfrom your margins and the remainder returned to you. 4. If the market declines so that loss in your tradesequals the total amount of funds in your brokershands, or nearly so, and you fail to re-margin, yourtrades will be closed and all your margins lost. KIND OF ORDERS. Buying or selling orders may be sent to be exe-cuted— 1. At the market price when the order is received. 2. At a stated price when the market reaches it,if it does reach it.
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WALL STREET GUIDE, 35 The natural and correct way to trade is to buyor soil at the market price. Then your order willbe instantly executed, and you will get into themarket at the ruling price. Too many traders wouldlike to buy a little below the market, or sell a littleabove it. Therefore they send orders to buy it themarket goes down to a certain price. This is falsecaution. If the market is to go down, one shouldsell instead of buying. The giving of such an order,moreover, often defeats the purchase entirely. Peo-ple generally wish to buy when the market is rising.If an order is given to buy a little below the rulingprice, by the time it is received the market has morelikely advanced a little than declined a little, and theorder cannot be executed. 1 Never accept discretionary orders. Give explicitdirections at what quotation to buy or sell, or toplace the trade at market price on receipt of theorder, and leave nothing to our judgment or dis-cretion. TRADING INSTRUCTIONS. Trades may

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