> Select the Trade tab after you log into the system
Note that a weekly journal is required in order to trade
> Select the Ticker of the Stock or ETF in the Order Entry section
- You will be able to search by company name in the same location
- The Zolio Securities universe is limited according to our Trading Rules
> Fill out the Order Ticket details with Side, Quantity, Order Type, Price
- Side: If this is a Buy or Sell. We will imply a short if there is a 0 position
- Quantity: Amount of shares you wish to trade
- Type: The method of execution (Market, Limit, Stop)
- Market: Immediately executed. (Sell at the Ask, Buy at the Bid)
- Limit: Monitor the Bid/Ask for the price target, then take the Bid/Ask
- Stop: Monitor the Last Price until the target hits, the do a Market Order
o Limit Price: The price target for Limit and Stop Orders
o Expiry: For Stop and Limit orders, how long they stay active. Options are for the rest of the “Day” or “Good Until Canceled”
- Set your confidence level in the trade. This is essentially how confident you are that this trade will be successful. The range is from 0-100 with 100 being 100% sure of the viability of the trade.
- Check market pricing data
- Review your current holdings in the chosen asset as well as life to date P&L
- Review trade history for chosen asset
- Submit the trade by selecting “Place Order”
- Once you hit the button the order is live
- A Market order will execute immediately
- Outside of trading hours (8am to 4pm) only Limit or Stop orders are allowed
- Do the Journal, or hold off until later
- You will have the option to journal your trade at this time, but the trade is in!
- If you do not want to do the journal at this time select “Don’t Journal Now”
- If you do select to Journal
- Fill in all the questions marked as required with a red*
- Once all the required fields are filled out you will be able to Save it
- Journals can not be edited once saved.
- If you do not journal your trade you can still do it in the Journal tab
- Research shows that journaling as soon as you trade improves performance
- Monitor your order in “Today’s Orders”
- When placed, the order will appear at the bottom of your screen in the “Today’s Orders” section as status “Open”
- When your trade is executed, the Status will change from “Open” to “Filled”, there will be a check next to the order, and it will appear in green
Zolio will always fill the order completely
- You can cancel any orders with an “Open” status using buttons at the bottom
- For a single order, highlight it and select Cancel Trade in the bottom right
- To cancel all orders select the Cancel All trades also in the bottom right
- Once canceled the Status will show “Canceled” and text will be in red with an “X” in the first column
> Monitor your Portfolio
- Positions, trade records including after trade date, p/l, dividends, stock splits, and commission fees are all located within the Portfolio Tab.
- Click on any row to see information about your trade
- Journal after trading for one or more trades at once
- If you decided to not journal at the time of trade you can use the Journal Tab
- This tab will contain all journaled entries
- Click the “Select the Trades To Journal” option
- Select one or more trades that you would like to journal for
- Fill out Journal details.