# How long does it take for a stock order to go through?



## mvproduct (Jan 22, 2015)

I just purchased my first stock (Apple) using the QuesTrade platform. I submitted an order last night at $129. It still says "Queued". When does the transaction actually occur and when can I expect to receive my stock?

Thanks.


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## uptoolate (Oct 9, 2011)

The markets aren't open. Apple is listed on the NASDAQ which is open 0930h to 1600h Eastern Time weekdays. Last Monday was Presidents' Day and the market was closed. Tomorrow it opens at 0930h. If you have placed a market order, it should be filled in a matter of seconds from the market opening for a stock like Apple. Given that your status says 'Queued', it is unlikely that you have a time limit on it but you might just want to double check it. It's unlikely that Questrade would let you put a limit on it which would prevent it from even having the opportunity of being filled. 

I forgot to add that the 'trade' will actually settle 3 days later.


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## gardner (Feb 13, 2014)

Well the markets are closed on Saturday and Sunday, and an order can't be executed until the open on Monday morning. If your order is at the market price, it will generally execute immediately once the market is open. The trade will "settle" three days later -- settlement means that the money is payed and the stocks transferred to your ownership.


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## mvproduct (Jan 22, 2015)

What do investors usually do during the weekends when the markets are closed?


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## OptsyEagle (Nov 29, 2009)

mvproduct said:


> What do investors usually do during the weekends when the markets are closed?


Wait for them to open.


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## Eclectic12 (Oct 20, 2010)

Place advance orders and check what happens when the market opens ... do more research ... ignore the markets and go skating ... whatever they want to do.


Cheers


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## KaeJS (Sep 28, 2010)

OptsyEagle said:


> mvproduct said:
> 
> 
> > What do investors usually do during the weekends when the markets are closed?
> ...


Okay. That was funny. LOL.


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## supperfly17 (Apr 18, 2012)

mvproduct said:


> What do investors usually do during the weekends when the markets are closed?


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## mvproduct (Jan 22, 2015)

OptsyEagle said:


> Wait for them to open.





KaeJS said:


> Okay. That was funny. LOL.





supperfly17 said:


>


It was a serious question. 

To clarify-

Do stock investors just avoid anything stock-related and wait for the market to open while it's closed? Is the general mentality something along the lines of: "Oh- the market is closed now. I don't have to do anything stock-related now." 

OR, do they take that off-time to research, and make stock predictions for the upcoming week? Do they analyze their current portfolio and decide what their next move will be, etc? Surely there are stock-related things investors can do while a market is closed, that would help them gain an advantage for when the market re-opens. Right? 

The way I see it- as soon as the market re-opens, I know exactly what my next move will be because I prepared for it during the off-time. Whereas the dude who didn't do anything at all during that off-time will now have to use open market time to figure out what to do. 


Bear in mind that I'm new to investing, so I could very well be overthinking this. I'm here to learn and gain knowledge. If my questions are stupid- doesn't really matter to me as long as I learn something from them. 

Anyhow, hope that clears things up.


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## Eclectic12 (Oct 20, 2010)

YMMV as at times I've:
- placed an order good for a month and then moved on to non-financial activities.
- reviewed my holdings to decide on actions to take.
- dug into company info to confirm what I thought might be a bargain had reasonable financials before trying to buy when markets opened.
- updated my cost spreadsheet.
- done the prep work for the investing part of my tax return.
- read new articles/books/boards to learn new things.
- ignored investing and enjoyed life.

It depends on what's needed and what is pressing.




mvproduct said:


> ... Surely there are stock-related things investors can do while a market is closed, that would help them gain an advantage for when the market re-opens. Right?
> 
> The way I see it- as soon as the market re-opens, I know exactly what my next move will be because I prepared for it during the off-time. Whereas the dude who didn't do anything at all during that off-time will now have to use open market time to figure out what to do.


If what happens off the mark matters ... it's an advantage, if not - it may not matter.

YMMV according to investor as well as by their chosen strategy.
A coach potatoe will do a bit but the whole strategy is to buy the index/re-balance so there is little for them to do. 
A stock picker may like the time for analysis ... but if the bargain is around for say a month (like early 2009) ... the weekend might not be critical.




mvproduct said:


> ... Bear in mind that I'm new to investing, so I could very well be overthinking this...


IMO, it's not so much over-thinking but potentially focusing too much on speed. Part of that comes from watching the market and getting a feel for what things require speed and what ones don't.


Cheers


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## mvproduct (Jan 22, 2015)

Eclectic12 said:


> YMMV as at times I've:
> - placed an order good for a month and then moved on to non-financial activities.
> - reviewed my holdings to decide on actions to take.
> - dug into company info to confirm what I thought might be a bargain had reasonable financials before trying to buy when markets opened.
> ...


Cheers man. That's the kind of answer I was looking for. I want to get into investors' heads so I can try and adopt their mindset, rituals, and daily practices.


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## KaeJS (Sep 28, 2010)

Everyone is different, of course.

For me - Friday's & Saturdays are days to enjoy life. I rarely ever look at market related stuff on Fridays or Saturdays. Sundays are different because the futures open up and international markets open.

I'm usually relieved on Friday at 4pm that the markets are closed.


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## cainvest (May 1, 2013)

mvproduct said:


> Bear in mind that I'm new to investing, so I could very well be overthinking this. I'm here to learn and gain knowledge. If my questions are stupid- doesn't really matter to me as long as I learn something from them.


Learning is what its all about mvproduct, asking lots of questions is a good idea when starting out. I will suggest that before jumping in with both feet, as you did, that learning all the basic trading operations might save you some trouble/confusion down the road, think about the entire process *before* you enter into it. Just my 2 cents ...


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## GreatLaker (Mar 23, 2014)

mvproduct said:


> I want to get into investors' heads so I can try and adopt their mindset, rituals, and daily practices.


Here are two investors heads you should really get inside:

The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein

The Intelligent Investor: The Definitive Book on Value Investing by Benjamin Graham

The Four Pillars of Investing totally changed my views on investing. It's well written and easy to read with a good deal of humour. The Intelligent Investor is the fundamental text on value investing. Kinda dry and not my investing style but a worthy read.

Enjoy!


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