How to Buy Express (EXPR) Stock

Whether you are buying EXPR to day trade, swing trade or hold for the long term, the first hurdle is to open an account with a brokerage. A brokerage firm will help you execute your buy and sell orders. 

When selecting a brokerage to place your trades, pay attention to:
- The fee structure (is it commission-free?)
- The different markets it covers
- What research aids it offers
- The typical investor it serves
- Whether it allows after-hours trading

Once your brokerage account is set up and funded, you now must decide how many shares of EXPR you want to purchase. Decide how much money you want to part with and check the price of EXPR. You can assume that if you buy EXPR today, your order will fill near the market price. Keep in mind that your investment can lose value at any time, so never invest more capital than you can afford to lose.

Now that you have decided how many shares of EXPR to purchase, you must determine what type of order will best serve your investing needs. The order type you select will communicate to your broker details such as how much you are willing to pay and when you want your order to be filled. Here are some of the more common order types and associated vocabulary.

Bid
The bid price represents the highest price a buyer is willing to purchase a single share of stock. Always keep this price in mind when placing an order with your broker.

Ask
The ask price represents the lowest price a seller is willing to take to part with a single share of stock. This price is also crucial to keep in mind when buying or selling a stock.

Spread
The spread communicates the difference between the bid and ask prices. Stocks under $5 as well as stocks with lower trading volumes are more likely to have a wide spread between the bid and the ask. In contrast, large companies like Facebook (FB) are likely to have a much lower spread, which allows much more capital to exchange hands without drastically affecting the stock price.

Limit Order
A limit order communicates to your broker that you want to purchase a stock at or below a set price. For example, you might submit a limit order that tells your broker to buy EXPR stock at a maximum price of $6 per share. If the price of EXPR falls below $6, the broker will execute your limit order. If the price of EXPR rises above $6 per share, the limit order will stop filling until the price returns to under $6 per share. A limit order gives you much more control over how much you pay per share, allowing you to define your risk. 

Market Order
A market order tells your broker that you want to purchase shares of stock immediately at the current market price. Market orders allow you to purchase shares in a company immediately but gives you far less control over the exact price that your order will get filled. Use this order type when you are looking for speed over efficiency.

Stop-Loss Order
A stop-loss order tells your broker to sell your shares in a stock if the price falls to a set level. For example, if you bought 100 shares of EXPR for an average price of $6 per share, you may want to set a stop-loss order at $5.74. 
If the price of EXPR falls to $5.74 per share, your broker will automatically sell your shares. A stop-loss order offers you a way to manage your losses so you’re not forced to follow the price of your stock every minute of the day.

Stop-Limit Order
A stop-limit order gives you a way to control your risk than a typical limit order does. When placing a stop-limit order, you must specify both an upper limit price and a lower stop price. For example, if you are trying to purchase EXPR, you might set a limit price of $6.10 and a stop price of $6. 
If the price of EXPR rises above $6, your stop-limit order will convert to a limit order and fill as long as you can purchase shares of EXPR for $6.10 per share or below. If the price rises above $6.10, your broker will stop purchasing shares. A stop-limit order provides you with a way to purchase numerous shares in a fast-moving market while also controlling your risk.

Once you have completed your order form and submitted it to your brokerage, you can relax. Your broker will execute your order based on the parameters you set. How long this takes will depend on the type of order you submitted and the current price of EXPR. Once your order fills, most brokers will notify you by email and/or push notification. If your order is not filled during regular market hours, you may have to place it again the next day, depending on the brokerage you chose.