How to Cash in My Stocks
- 1). Call your broker and ask him to sell your stock at the market price. Use this method to cash in your position when you think you are near the top and you need the money immediately.
- 2). Ask your broker to set a limit order on the stock. Limit orders to sell stock are set at a price point above the market price. Decide what percentage gain you want from the stock, and have your broker place an order to sell at that price or better. Limit orders are not guaranteed to execute.
- 3). Set a stop-limit order with your broker to sell stock in a falling market. Set the stop price below the market price. Set the limit price to equal the stop price or slightly above it. When the stop price is reached, the limit order price is triggered. This hybrid offers you more precision than a straight limit order, especially in a rapid market, but it is not guaranteed to execute.
- 4). Set a stop loss order with your broker. Use this strategy to cash in stocks that are declining and for which you want to limit your loss. The order is executed as a market order when the stop price is reached.
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