Series 65: 7.1.5.1.5. Memory Tricks For Orders

Taken from our Series 65 Online Guide

7.1.5.1.5. Memory Tricks for Orders

Sell limit orders and buy stop orders are typically placed over the market price. This can be remembered through the mnemonic

SLOBS: Sell Limit-Over the market-Buy Stop.

Buy limit and sell stop orders are typically placed under the market price. This can be remembered by the mnemonic

BLUSS: Buy Limit-Under the market-Sell Stop.

SUMMARY TABLE
Types of Orders	Characteristics
Market Orders	• Filled immediately at the best available price • Always filled
Limit Orders	• Filled at a specific price or better • Used when not ready to buy or sell at the market price • Buy limits placed below market price • Sell limits placed above market price • Not always filled
Stop Orders (Stop-Loss Orders)	• Turns into a market order when a trigger price is hit • Buy stops are used to protect short sale gains • Buy stops placed above market price • Sell stops are used to protect long sale gains • Sell stops placed below market price • Always filled if triggered
Stop-Limit Orders	• Turns into a limit order when a trigger price is hit • Two important prices, trigger price and limit price • Buy stops are used to protect short sale gains • Buy stops placed above market price • Sell stops are used to protect long sale gains • Sell stops placed below market price • Protects aga

+ Read More

More Series 65 Info

What are people saying?

Create an Account

Since you're reading about Series 65: 7.1.5.1.5. Memory Tricks For Orders, you might also be interested in:

Series 24 - Investment Company Tombstone Ads

Series 14 - 7.3.5.6. Continuing Education

Series 79 - Evaluating Credit Implications

Series 52 - 7.4. Monetary Policy

Series 65 - National Market System

Series 6 - Exercise

Series 24 - Regulation M, Rule 104—Stabilizing Bids and Other Activities

Series 24 - Answers

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

Thanks to you I passed the Series 65 exam on my first try. I appreciated your materials and online test bank.

Jeff

As an international student from Bogota, Colombia who recently graduated from Principia College in Business administration and economics, I was looking for the best learning software alternative to study for the Series 65 exam. When I started using Solomon Exam Prep, I realized it was the best option due to its friendly platform, extensive question bank, detailed video lessons and meticulously written study guide for the test. As a native Spanish speaker, I was afraid that I wasn't going to understand, but thanks to Solomon Exam Prep's user friendly guide, I was able to understand every concept from multiple points of view with the help of the video lessons, study guide, note cards and audiobook. I am so grateful that I got to finish the program in 8 weeks start my training as an Investment Adviser Representative for Challenger Wealth Management at 24 years old!

Esteban Rojas Acuna, Challenger Wealth Management. Los Angeles, CA

Passed my Series 65 on the first try! Solomon really has everything you need to pass. I followed the recommended schedule and took a ton of practice tests. This gave me a ton of confidence and it paid off!

Andrea Rivera, ForUsAll. Salt Lake City, UT

I truly wish I had tried Solomon Exam Prep earlier! Started studying for the Series 65 exam with a different company and missed passing the test by 4 questions. I was pretty disappointed because my study materials, especially the quiz generator, weren't a great reflection of what the test would actually be like. But Solomon's Exam Simulator was the KEY to passing my second go-around! Questions were very similar to the actual exam and I managed to boost my score by 10% from the first time, only using the Solomon materials for less than a week! HIGHLY recommend this to anyone in need of 65 materials!

Hannah Cash, Denali Wealth Management, Indianapolis, IN

I passed the test [the Series 65] with flying colors. Your study material, particularly the book and the online exams were the difference maker. Other individuals in my firm used exam prep courses from other companies and unfortunately did not pass the exam. I am confident in saying that these materials were the difference maker. Thank you for creating such a great product. Everyone in my firm will use your simulators going forward.

Chris T. Chambers, Senior Partner, My Harvest Field, Inc., Clearwater, FL

I passed the Series 65 today. Thanks so much. The Series 65 Exam Simulator and the iPhone app were my only study instruments. I didn't have any other study materials. Granted, I know that you encouraged me to not use the exam simulator as my sole source, but I found your practice tests to be more difficult than the actual exam. I had taken the series 65 in 1994, but it is a different test now. I received an 89%, finished 55 minutes early. I just took your exam simulator tests over and over. Funny thing, I was getting in the 75% range on your exams. Never broke 80%. Great apps! I really appreciate your generosity in extending my subscription to complete my prep. You are a good man. Thank you.

Daniel Q. Humphrey, Financial Guard, Pleasant Grove, Utah