hello hello and welcome back everybody
to another episode of winning lifestyles
today we're back at it again with
another episode to walk you through
how to use your fidelity account
specifically
how to sell stocks now i know this
entire week in the middle of september
has been crazy it's been a solid red
week all week long
and usually that's a good time to say
hey everything's on sale it's on
discount let's go buy
but for those of us here who are
interested in tax loss harvesting
or maybe you working with like very
limited funds
that's okay sometimes you got to sell
off some stocks that aren't doing so
well
and put that money towards something
else that you know will grow really
quick if it rebounds like for instance
about a month ago man there was like a
week where it just dropped by 10
20 and then suddenly the next week boom
skyrocketed back up to where it was at
so it was like it went from 240
down to about 210. and then it
skyrocketed all the way back up now it's
been consistently trading
or it was last week around 280 290 and
now it's back down to like 250 so you
still would have made about 40 bucks a
share
so that's where sometimes you know
selling off some stocks to buy something
that's gonna
go back and rebound almost instantly
well you know it might be
a good idea for people with very low
capital
but anyways let's dive in here and show
you how to access
the sell option on fidelity now there's
a lot of different ways to do this
so we're going to go through the most
basic one right here and that's just
using the quick trade ticket so once
again click on trade
then select the account you want to
trade out of so for instance i want to
do it in my roth
if i'm doing it my wrath i don't really
care too much about tax loss harvesting
by the way and
that's another topic for another time
but anyways i'm here in my roth and now
let's say
that i want to trade out of oil stocks
so for instance i have some
shell shares right royal dutch shell
and it just has not been doing good i
remember i bought this way way back in
like
april or may and it was like 30 bucks a
share
and now it's dropped down and i want to
just you know maybe i'll take a little
bit of a loss now but i can put that in
something else that will rebound and
grow even faster
so instead what i'm going to do is i'm
going to go ahead and click sell
but let's say i don't want to sell all
of my shares i just click on the sell
option
right and then it will update and tell
me exactly how many shares i own so for
instance if i only want to sell two
shares
i'm gonna click two there and then it's
my choice again it's the same deals
before whether i want to do a market
order limit order stop loss stop limit
but to keep it simple today if you do a
market order that means that
when the market opens on the next day if
it's after hours or
at that current time in the market
whatever price it's at it will trade
instantly and
sell it at that price so for example
right now it looks like
royal dutch shells this is after hours
it's about 26.33
if this was what we were seeing in like
the middle of the trading day
it would sell and you'd get about 26.33
unless there's like a huge pivot all of
a sudden so it might vary a little bit
so be careful about market orders
that's why i like to usually go with
limit orders and let's say i want it to
run long term i want to say okay
if shell goes to 30 bucks anytime
if i choose day and force that means
it's going to cancel the same day but if
i want it to last forever like if shell
hits 30 bucks i'll cash out i'll take my
money right away
then i'll just switch to good till
cancel and boom everything's good to go
right and then i can set when i want
this order to end or expire
if it doesn't get filled or i could do
filler kill which means you know sell
both of the shares
at the same time or cancel it all
together or
immediate or cancel i mean sell it in
the instant if you can't sell it you
can't find a buyer for me then just
cancel the order
right but you know we like to keep it
simple here so just leave it at that
then go down
and click preview order and then boom
you're ready to go
move on to the next part now let's say
you just wanted to sell
all of your shares you can just click
sell all make life easy and the same
features still apply in your trading
ticket so it's not like anything's
different
life is still easy and good but now
let's say
you wanted to be strategic okay
let's say you were buying different
prices for shares of shell this entire
time
so then your average is like low but
there are some shares that are really
expensive and some shares that are
really cheap
and you want to make your average look
good and you want to capitalize on tax
loss harvesting which is a fancy way of
saying
sell shares at a loss and then use that
loss to write off
capital gains and all that means is that
if yours if you like
sold a bunch of stocks and you made like
five thousand dollars
if you sold some that also lost money
instead of actually making five thousand
you might
overall make only about four thousand
that means you don't have to pay
taxes on the four thousand dollars but
all of that
is another story another time we're just
trying to show you the features here
just
giving you ideas giving you seeds so you
can do more research please remember
that you need to do your own due
diligence okay
we are not financial service advisors
here we're just doing this for funsies
and educational purposes
so that you can take charge and try and
find ways to build wealth
but back to it let's say we're trying to
sell very specific shares
of whatever stock we wanted to buy click
on specific shares and then you will
automatically get taken to this new
window
i can see the price of royal de shell i
can see the current high and low
and the trading volume and all that good
stuff that's extra stuff that once you
get really
good and you know what's going on um it
will help
when you're making decisions on whether
or not it's a good time to buy or sell a
stock
but let's say i want to sell just two
shares like before okay
and i'll select my order type i'm going
to go with limit order and we'll just
keep it the same as before 30 bucks
and i want it to set for the day if it
doesn't reach 30
that day and i can't sell it then that's
okay that order just cancels
just tick that little box that says
choose specific shares and you'll get
taken to the next screen
and here is where you're going to get a
little mini tab of
all of the shares that you bought and
all the prices you bought it at
so now let's say i wanted to sell my
shares that were the most expensive so i
can capitalize on the most loss like if
you can see here
right i lost 22.64 cents from these four
shares
of a shell it hurts but hey
sometimes you gotta sell and lose money
to make a lot more
right so if i said okay let's go ahead
and sell these two specific shares out
of the four that i own
i'm going to sell them at the price of
31.99 so
when you're looking at if this was a
taxable brokerage account in roth it
doesn't really matter too much but if
this was a taxable brokerage
account i'd be able to see oh okay you
know
you may have earned a lot of money on
these stocks but here's all the stocks
that you lost
when you sell that's the key if you sell
a stock
you close a position on a stock right
that's when you start to incur things
like capital gains
or if you're getting dividends paid out
directly to you instead of letting them
drip
that's capital gains taxes that you
might have to pay
so keep an eye on that talk to an
accountant a financial professional
they'll walk you through what's going on
they'll tell you what's the strategic
way to minimize and make it look like
even though you might have made 5 000
by like switching out some shares and
doing some tax loss harvesting and
you know buying shares that are
essentially the same with different
funds and stuff
that you can actually offset the amount
of capital gains you have and pay less
taxes long term
again talk to the accountant we keep
saying this here just because we want
you to start thinking about
why this would be the case but do your
own due diligence check out your
research
but yeah let's say i want to sell these
two specific shares i'll sell it here
that will make my cost basis which is a
fancy way of saying
how much did i pay per share for that
lot that group
of stocks and then when i sell that i
just click preview order
and then we're taken to this page again
i will i double check that i'm selling
it at the price that i want
and that the orders are the amount i
want and it will tell me how much
money i uh i'm gonna get from this trade
my estimated commission
and it's gonna tell me which lot i'm
pulling from lot
is just telling me which group of stocks
i'm gonna sell from right so i want to
sell the two shares
that were 31.99 and i got these on april
just to make sure everything's right
then you just scroll down click place
order and bada bing bada boom
you are done and everything is good to
go and there you have it folks that
is a few different ways that you can
sell stocks
on your fidelity account now keep in
mind this works whether you're talking
about your brokerage account
or your roth ira accounts or any ira
accounts 457 b's whatever as long as
you're managing it
it works for all of them the steps are
the same just keep in mind about the
different implications that you're going
to be doing for tax purposes
and please remember one more time that
we at winning lifestyles are not
financial service advisors
we're just here doing this for funsies
and for educational purposes
and that you need to go out and do your
own due diligence
and talk to professionals tax
professionals financial professionals
you know go and chat with them and they
will walk you through and help you
figure out the best route with that
being said thank you so much for
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