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Since I started investing in stocks, I seldom buy or sell during market hours. Not that I intended to but mainly because of the time difference with my location.
I live and work overseas and it’s somehow difficult to be online during market hours. When the market is open, I would either be busy at work or at home sleeping.
I invest for long term and I don’t usually trade stocks. So it really doesn’t matter whether the market is open or not when I place an order.
As a matter of fact, I prefer it that way since I usually look at and review the market at the end of trading day.
This allows me to see the general market sentiment for the day before making any investment decision.
PSE Trading Hours
The Philippines Stock Exchange (PSE) trading hours are from 9:30a to 3:30p, Monday to Friday.
If you want to buy or sell a stock, you’d normally place an order under Trade > Enter Order. But if the market is closed, you won’t be able to do that.
So instead of placing a regular order, I use the Off-Hours Order or After Trading Hours Order feature in COL’s trading platform.
Off-Hours (OH) Order or After Trading Hours Order (ATO)
OH Order or ATO is an order feature from COL that allows you to place a buy or sell order after trading hours which can then be processed the next trading day.
This type of order can only be accepted after 6p and before 8:55a on weekdays and at any time on weekends.
To place an OH Order or ATO, follow these steps…
- Go to Trade > OH Order.
- Enter your OH Order details.
- Review and confirm your OH Order.
Step 1. Go to Trade > OH Order.
Login to your COL account. Under the Trade tab, click on OH Order.
Step 2. Enter your OH Order details.
For example, we’re going to buy 2,000 shares of Megaworld Corp. (MEG) at P4.42/sh.
Make sure to set the following correctly…
- Transaction – Buy
- Term – ATO
- Stock Code – MEG
- # of Shares – 2000
- Price – 4.42
Select Buy to place a buy order.
This setting defaults to ATO.
- After Trade Hours Order (ATO) – This allows you to enter orders after trading hours to be sent for the next trading day.
- At-the-Close (ATC) – This allows you to enter an order that will be sent to the PSE for execution during market run-off period at a price equivalent to the closing price of the stock.
Type in MEG for Megaword Corp. Otherwise, click on Stock List to look it up on the list of companies in the stock market.
# of Shares
To determine the number of shares, refer to the Board Lot. The board lot indicates the minimum number of shares you can buy or sell for a specific stock.
They have this system in place to facilitate easier trading and to avoid Odd Lot.
Any number below the board lot is called an Odd Lot and can only be traded in the Odd Lot Market.
For MEG, the board lot indicates 1000. Meaning, you can buy a minimum of 1000 shares and in multiples of 1000 only (1000, 2000, 4000, etc.)
Here, you can set any price you want as long as it’s within the Fluctuation and Floor/ Ceiling Prices.
But if you want your order to be processed straight away when the market opens, always refer to the Ask Table. This shows you a list of prices that people are willing to sell their shares.
Since off-hours order are placed on a First-Come, First-Serve basis, try to go for the 2nd or 3rd listing. This gives you a better chance for the order to get executed.
Click on Preview Order to continue.
Step 3. Review and confirm your OH Order.
Review your order. Here, you can see the total order amount including charges.
To confirm your order, enter your password and click Place Buy Order to continue.
Next, you will see confirmation details about your order.
There you have it! Just wait for the order to be processed the next trading day.
In case you need to make some changes, just click on Trade > OH View/Cancel to view or cancel your order.
To verify your order, look for the transaction details under Trade > Trading History the next trading day.
That’s it! I hope you learned from this tutorial. If you have some questions, please feel free to drop me a comment below.
Thanks for reading!