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Use this investment strategy to maximise your profits

by , 06 August 2015

When you invest in shares, you want to buy at the lowest price possible and sell at the highest price you can. This maximises your profit potential from investing.

The way you instruct your stock broker to buy shares has a big bearing on this. It all comes down to the type of order you use.

So what type of order should you use when buying shares to maximise your profit potential?

Read on to find out…


This investment strategy doesn’t cost you a cent


This investment strategy is free to use, can save you money and can improve your profit potential when investing in shares.

It helps you to take control of your investments.

This investment strategy all comes down to the type of order you use when instructing your stock broker to buy shares for you.


Using market orders to buy shares


If you phone your stock broker up and instruct him to buy shares for you at the current price, you’re giving a market order. This means the stock broker will buy shares for you at the current price.

But using market orders can cost you. You can pay more for shares than you need to.

By changing the way you instruct your stock broker to buy shares for you, you can save money.


Using limit orders to buy shares


You should use limit orders instead. This means you tell your stock broker you want to buy shares in a specific company, but only up to a certain price.

By buying at a price you want, you maximise the upside potential.

Of course, there’s a chance the share price won’t fall to the level you set your order at, but you can wait. Patience pays off.


You should also use limit orders when you sell


By employing the same investment strategy when you sell, you also remove the chance of selling your shares at a lower price than you want. Yes, you may have to wait for the price to rise to the level you want, but again patience can pay off.

Limit orders are almost always the better way to go, Keith Fitz-Gerald in Total Wealth explains.

So there you have it. Why you should use this investment strategy to maximise your profits.

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Use this investment strategy to maximise your profits
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