Trading & Orders

A composite order combining an IFD order (a set of new and settlement orders) with an OCO order (simultaneous take-profit and stop-loss orders). When the initial order is executed, take-profit and stop-loss orders are automatically placed simultaneously. It is one of the most advanced order types.

A sequential order where a second order is automatically placed once the first order executes. For example, you can set "buy at 1,000 yen, then sell at 1,200 yen." It reduces order effort and enables planned trading.

A trading method where buying and selling are automatically executed by computer programs. It trades at high speed according to pre-set rules without being influenced by human emotions. It is widely used primarily by institutional investors.

A display showing the prices and quantities of sell and buy orders for a stock. By reading the order book, you can see how many orders are concentrated at each price level. More liquid stocks tend to have a "thick" order book (many orders).

Collateral deposited with a brokerage when conducting margin trading. Approximately 30% or more of the transaction amount is required, and stocks can be used as a substitute for cash. A margin call occurs when the maintenance rate falls below a certain level.

A method of matching trades used at market opening and resumption. Accumulated sell and buy orders are matched to determine the price that produces the most executions. It is a different price determination mechanism from continuous trading.

A trading method that places and withdraws massive numbers of orders at ultra-high speeds measured in milliseconds. It is the fastest form of algorithmic trading, profiting from tiny price differences. While it contributes to market liquidity, there are debates about fairness.

A demand for additional funds when unrealized losses in margin trading cause the margin maintenance rate to fall below the required level. If a margin call occurs and funds are not deposited by the deadline, positions are forcibly liquidated. It is one of the major risks of margin trading.

An order method where two orders are placed simultaneously, and when one executes, the other is automatically canceled. For example, placing both a limit order for profit-taking and a stop order for loss-cutting allows automatic order management.

Repeatedly buying and selling the same stock in a short period. There is a risk of accumulating trading fees and increasing costs. When brokerages encourage clients to trade frequently, it can be considered inappropriate sales practice.

An order method that automatically triggers when a specified price is reached. Used for stop-loss and profit-taking. For example, setting "sell if the price drops to 900 yen or below" automatically limits your losses.

The buy and sell prices displayed before a trade is executed. The lowest ask price (minimum selling price) and highest bid price (maximum buying price) are especially important, and the difference between them is called the spread.

An order method where you specify the price at which you want to trade. You specify your desired price, such as "buy at this price or lower" or "sell at this price or higher." The order won't execute if the desired price isn't reached.

The regular trading period between the opening and closing. During this time, trades are executed individually following the principles of "price priority and time priority." This is when trading is most active.

The outstanding balance of unsettled margin purchases (long balance) and sales (short balance). High long balance indicates future selling pressure, while high short balance suggests future buyback demand. It is an important indicator for assessing supply and demand balance.

A trading method that accumulates small profits per trade through ultra-short-term trades lasting seconds to minutes. It involves more frequent trading on an even shorter time frame than day trading. It requires high concentration and quick decision-making, making it an advanced technique.

The state where a stock's daily price movement reaches the upper or lower limit. When the price reaches the limit range from the previous day's close, trading beyond that price is restricted. This system protects investors from extreme price fluctuations.

The range within which a stock price can fluctuate in a single day. The range is set based on the previous day's closing price according to the stock price level. For example, for a stock priced at 1,000 yen, the limit range is +/- 150 yen.

Trading hours on the stock exchange are divided into morning (zenba) and afternoon (goba) sessions. Morning is 9:00-11:30, afternoon is 12:30-15:30. No trading occurs during the lunch break. The afternoon session closing time was extended to 15:30 from November 2024.

Selling a stock when unrealized losses exceed a certain level to prevent further loss expansion. Considered one of the most important skills in investing, it is the basis of "cut losses short, let profits run."

An order method that automatically raises the stop-loss level as the stock price rises. It allows you to extend profits while automatically settling when the price drops by a certain amount, achieving both profit protection and loss limitation simultaneously.

An order method without specifying a price. The trade executes immediately at the current market price. Used when you want to ensure execution, but during rapid price movements, it may execute at an unexpected price.

A technique of buying more shares when the price drops to lower the average cost per share. If the price recovers, it becomes easier to profit, but if it continues to fall, losses can expand. Beginners should use this technique with caution.

The point when trading ends on the stock exchange. There is a morning close (11:30) and the final close (15:30). The price at the final close becomes the "closing price," and stock prices reported in the news usually refer to this closing price.

A proprietary trading system that allows stock trading without going through a stock exchange. Since night trading is available, it is convenient for investors who cannot trade during the day. It enables immediate response to overseas market movements outside exchange operating hours.

The point when trading begins on the stock exchange. The morning session opens at 9:00 and the afternoon session at 12:30. Trades at the opening are determined by the "itayose" (call auction) method, and the first price becomes the "opening price."

Selling a stock with unrealized gains to lock in profits. The timing of profit-taking is one of the most difficult investment decisions. The market saying "leave the head and tail for others" means not to aim for perfect timing.