Hi all, I searched the FAQ and this hadn't been answered, and Google has been little help so far, so I hope I can find answers here.
I am currently looking at doing a market order in an ETF and the Fidelity website has some terms I'm just unfamiliar with as I'm very new to the process.
The three options I have under "Time in Force" are "Day," "On the open," and "on the close."
I know what these terms means, but I'm a little confused as the way it's worded when I try to place the order leads me to believe that I'm only buying these shares for one day and then they'll be sold back?
"This order is to Buy (blank) Shares of IVV with a Market Order (Day). This order will expire at 4:00 PM ET."
What does it mean by the order will expire? And which option under time in force would probably suit me best in this situation? I'm not planning to do anything until the markets open on Monday but I figured I'd get the advice now before I pull the trigger.
Thanks in advance!
Submitted August 26, 2017 at 03:17PM by ExPatSTL http://ift.tt/2xBTFQr
