How to Buy Flora Growth (FLGC) Stock

Step-by-Step Guide

1. Pick a brokerage.

   Once you know how to buy stocks, you simply apply the below steps to invest in FLGC stock.
   
   First up is picking a brokerage. Due to the rise in interest among a new generation of investors, along with mobile trading apps that imposed competition on traditional brokerages, you now have a wide variety of choices. Most brokers today offer identical incentives, such as commission-free trading. Your decision will largely boil down to personal preference and anticipated growth.
   
   For instance, if you’re constantly on-the-go, you may find that a trading app that you can conveniently download on your digital device is more than enough to meet your needs. But if you anticipate exploring advanced investing and trading tactics, you should consider full-spectrum platforms.

2. Decide how many shares you want.

   To figure out how many shares you want, take a dollar figure that you’re comfortable putting at risk. This figure will depend on multiple factors, most importantly account size and risk tolerance. Still, because FLGC stock is speculative, you should invest an amount that you would be comfortable losing if the worst outcome happens.
   
   Just as importantly, you should decide how many shares to purchase before stepping into the ring. Craft a game plan and stick to it to avoid placing emotional wagers.

3. Choose your order type.

   Beyond the share count you intend to purchase, you must familiarize yourself with key market concepts. One of the most critical is the order type, which accounts for the constantly fluctuating value of stocks.
   
   • Bid: The bid is the highest price a buyer will offer for a stock. It is always lower than the ask.
   • Ask: Conversely, the ask is the lowest price that a seller will accept. It is always higher than the bid.
   • Spread: The spread is simply the difference between the bid and ask price. This concept is crucial for 2 reasons. First, the spread represents the profit margin for market makers, who absorb risk on their books as they acquire stocks for the end purpose of distribution to investors. Second, the spread is a de-facto indicator of market liquidity. Narrow spreads suggest lower risk and high liquidity. Wider spreads indicate higher risk and lower liquidity.
   • Limit order: Limit orders are useful if you want transparency and control with your entry and exit points. They only execute at your predetermined price. But the drawback of this approach is that no guarantee exists that the target stock reaches said price, potentially leaving your limit order hanging unfulfilled.
   • Market order: For a guarantee that an order will go through (assuming that you place it during normal session hours), you should choose a market order. This transaction type automatically fulfills at the next available price. The disadvantage is that market orders fulfill at rates least favorable to you -- buy orders on the ask, sell on the bid.
   • Stop-loss order: A protective function for a specific holding, a stop-loss order automatically exits you out of your position at either a predetermined price or the next available price. The main risk with stop-loss orders come from gap-down sessions, which are sessions that feature an opening price much lower than the prior session’s closing price.
   • Stop-limit order: A stop-limit order only executes at a predetermined price, preventing the often nasty surprises associated with gap-down sessions. But the risk is that a stock has no guarantee that it will reach the predetermined price. Should a stock continue to tumble, you would have been better off having a stop-loss order cut your downside exposure.

4. Execute your trade. 

   To execute your trade, follow these steps for a market order:
   
   • Select action type (buy or sell).
   • Enter the shares you want to acquire (or sell).
   • Hit the execute button.
   
   Placing limit orders is identical to market orders, with the added step of specifying your desired execution price.
   
   You might consider a market order if you’re bullish. Otherwise, use a limit order to precisely control your entry point.