{"id":217,"date":"2026-08-16T09:36:18","date_gmt":"2026-08-16T07:36:18","guid":{"rendered":"https:\/\/www.zambiashares.com\/learn-investing\/?p=217"},"modified":"2026-08-16T09:37:38","modified_gmt":"2026-08-16T07:37:38","slug":"lesson-23-understanding-buy-and-sell-orders","status":"publish","type":"post","link":"https:\/\/www.zambiashares.com\/learn-investing\/lesson-23-understanding-buy-and-sell-orders\/","title":{"rendered":"Lesson 23 \u2014 Understanding Buy and Sell Orders"},"content":{"rendered":"<style>\r\n.zs23-lesson {\r\n    max-width: 1100px;\r\n    margin: 30px auto;\r\n    font-family: Arial, Helvetica, sans-serif;\r\n    color: #374151;\r\n}\r\n\r\n.zs23-card {\r\n    background: #ffffff;\r\n    border: 1px solid #DDE5E0;\r\n    border-radius: 18px;\r\n    box-shadow: 0 5px 20px rgba(0,0,0,0.07);\r\n    overflow: hidden;\r\n}\r\n\r\n.zs23-header {\r\n    background: #008C3A;\r\n    color: #ffffff;\r\n    padding: 28px 35px;\r\n    text-align: 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}\r\n\r\n    .zs23-slide {\r\n        padding: 30px 22px 25px;\r\n        min-height: 500px;\r\n    }\r\n\r\n    .zs23-slide h3 {\r\n        font-size: 23px;\r\n    }\r\n\r\n    .zs23-slide p,\r\n    .zs23-slide ul {\r\n        font-size: 16px;\r\n        line-height: 1.7;\r\n    }\r\n\r\n    .zs23-order {\r\n        grid-template-columns: 1fr;\r\n    }\r\n\r\n    .zs23-flow {\r\n        flex-direction: column;\r\n    }\r\n\r\n    .zs23-arrow {\r\n        transform: rotate(90deg);\r\n    }\r\n\r\n    .zs23-table {\r\n        font-size: 14px;\r\n    }\r\n\r\n    .zs23-table th,\r\n    .zs23-table td {\r\n        padding: 9px;\r\n    }\r\n\r\n    .zs23-navigation {\r\n        padding: 16px;\r\n    }\r\n\r\n    .zs23-btn {\r\n        padding: 11px 17px;\r\n        font-size: 14px;\r\n    }\r\n}\r\n<\/style>\r\n\r\n\r\n<div class=\"zs23-lesson\">\r\n\r\n    <div class=\"zs23-card\">\r\n\r\n        <div class=\"zs23-header\">\r\n            <h2>Lesson 23: Understanding Buy and Sell Orders<\/h2>\r\n            <p>Learn how investors tell the market what they want to buy or sell.<\/p>\r\n        <\/div>\r\n\r\n        <div class=\"zs23-progress\">\r\n            <div class=\"zs23-progress-bar\" id=\"zs23Progress\"><\/div>\r\n        <\/div>\r\n\r\n\r\n        <!-- 01 -->\r\n\r\n        <div class=\"zs23-slide active\">\r\n\r\n            <span class=\"zs23-number\">01 \/ 15<\/span>\r\n\r\n            <h3>What Is a Buy or Sell Order?<\/h3>\r\n\r\n            <div class=\"zs23-visual\">\r\n\r\n                <div class=\"zs23-icon\">\ud83d\udccb \ud83d\udcc8<\/div>\r\n\r\n                <strong>\r\n                    An order is an instruction to buy or sell shares.\r\n                <\/strong>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                When you decide to buy shares, you need to tell the market\r\n                what you want to buy. When you want to sell shares you already\r\n                own, you also need to give an instruction.\r\n            <\/p>\r\n\r\n            <p>\r\n                This instruction is called an <strong>order<\/strong>.\r\n            <\/p>\r\n\r\n            <p>\r\n                In Zambia, investors can place buy and sell instructions\r\n                through a stockbroker or through available approved market\r\n                access channels.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-tip\">\r\n                <strong>Simple meaning:<\/strong> An order tells the market\r\n                what you want to buy or sell, how many shares you want,\r\n                and, depending on the order type, the price or conditions\r\n                you want to use.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 02 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">02 \/ 15<\/span>\r\n\r\n            <h3>A Buy Order<\/h3>\r\n\r\n            <div class=\"zs23-order\">\r\n\r\n                <div class=\"zs23-order-card\">\r\n\r\n                    <div class=\"zs23-order-icon\">\ud83d\uded2<\/div>\r\n\r\n                    <h4>BUY<\/h4>\r\n\r\n                    <p>\r\n                        You want to purchase shares.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n                <div class=\"zs23-order-card\">\r\n\r\n                    <h4>Example<\/h4>\r\n\r\n                    <p>\r\n                        Buy 100 shares of a company at a specified price\r\n                        or according to the selected order type.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                A buy order is an instruction from an investor to purchase\r\n                a certain number of shares.\r\n            <\/p>\r\n\r\n            <p>\r\n                For example, you might tell your broker that you want to buy\r\n                100 shares of a particular listed company.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-highlight\">\r\n                A buy order does not automatically mean the shares will be\r\n                purchased. The order must be able to be executed under the\r\n                relevant market rules and conditions.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 03 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">03 \/ 15<\/span>\r\n\r\n            <h3>A Sell Order<\/h3>\r\n\r\n            <div class=\"zs23-order\">\r\n\r\n                <div class=\"zs23-order-card sell\">\r\n\r\n                    <div class=\"zs23-order-icon\">\ud83d\udcb0<\/div>\r\n\r\n                    <h4>SELL<\/h4>\r\n\r\n                    <p>\r\n                        You want to sell shares you own.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n                <div class=\"zs23-order-card\">\r\n\r\n                    <h4>Example<\/h4>\r\n\r\n                    <p>\r\n                        Sell 100 shares of a company at a specified price\r\n                        or according to the selected order type.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                A sell order is an instruction to sell shares that you own.\r\n            <\/p>\r\n\r\n            <p>\r\n                For example, you may own 500 shares and decide that you want\r\n                to sell 100 of them.\r\n            <\/p>\r\n\r\n            <p>\r\n                Your instruction will specify the shares you want to sell\r\n                and the relevant order details.\r\n            <\/p>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 04 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">04 \/ 15<\/span>\r\n\r\n            <h3>How Does a Trade Happen?<\/h3>\r\n\r\n            <div class=\"zs23-visual\">\r\n\r\n                <div class=\"zs23-flow\">\r\n\r\n                    <div class=\"zs23-box zs23-buy-box\">\r\n                        \ud83d\udc64<br>\r\n                        Buyer\r\n                    <\/div>\r\n\r\n                    <div class=\"zs23-arrow\">\u2192<\/div>\r\n\r\n                    <div class=\"zs23-box\">\r\n                        \ud83d\udccb<br>\r\n                        Buy Order\r\n                    <\/div>\r\n\r\n                    <div class=\"zs23-arrow\">\u2194<\/div>\r\n\r\n                    <div class=\"zs23-box zs23-sell-box\">\r\n                        \ud83d\udccb<br>\r\n                        Sell Order\r\n                    <\/div>\r\n\r\n                    <div class=\"zs23-arrow\">\u2192<\/div>\r\n\r\n                    <div class=\"zs23-box\">\r\n                        \ud83d\udc64<br>\r\n                        Seller\r\n                    <\/div>\r\n\r\n                <\/div>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                A trade happens when a buying order and a selling order can\r\n                match under the exchange's trading rules.\r\n            <\/p>\r\n\r\n            <p>\r\n                LuSE explains that a trade is completed when the trade placed\r\n                by a buying broker matches the trade placed by a selling broker\r\n                where the price matches. :contentReference[oaicite:1]{index=1}\r\n            <\/p>\r\n\r\n            <div class=\"zs23-tip\">\r\n                <strong>Think of it like a meeting:<\/strong> a buyer wants\r\n                to buy and a seller wants to sell. The market brings compatible\r\n                orders together.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 05 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">05 \/ 15<\/span>\r\n\r\n            <h3>What Information Goes Into an Order?<\/h3>\r\n\r\n            <p>\r\n                A buy or sell order contains important instructions.\r\n                The exact fields can depend on the broker or trading platform.\r\n            <\/p>\r\n\r\n            <table class=\"zs23-table\">\r\n\r\n                <tr>\r\n                    <th>Information<\/th>\r\n                    <th>Example<\/th>\r\n                <\/tr>\r\n\r\n                <tr>\r\n                    <td>Company<\/td>\r\n                    <td>Selected listed company<\/td>\r\n                <\/tr>\r\n\r\n                <tr>\r\n                    <td>Action<\/td>\r\n                    <td>Buy or Sell<\/td>\r\n                <\/tr>\r\n\r\n                <tr>\r\n                    <td>Quantity<\/td>\r\n                    <td>100 shares<\/td>\r\n                <\/tr>\r\n\r\n                <tr>\r\n                    <td>Price \/ Order Type<\/td>\r\n                    <td>K10 limit order<\/td>\r\n                <\/tr>\r\n\r\n                <tr>\r\n                    <td>Duration \/ Conditions<\/td>\r\n                    <td>Depending on order selected<\/td>\r\n                <\/tr>\r\n\r\n            <\/table>\r\n\r\n            <div class=\"zs23-highlight\">\r\n                Always check the order details carefully before submitting\r\n                an instruction.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 06 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">06 \/ 15<\/span>\r\n\r\n            <h3>What Is a Market Order?<\/h3>\r\n\r\n            <div class=\"zs23-visual\">\r\n\r\n                <div class=\"zs23-icon\">\u26a1\ud83d\udccb<\/div>\r\n\r\n                <strong>\r\n                    Buy or sell at the available market price,\r\n                    subject to the order being executed.\r\n                <\/strong>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                A market order is an instruction to buy or sell shares at\r\n                the market price.\r\n            <\/p>\r\n\r\n            <p>\r\n                The actual execution price may depend on the available\r\n                matching orders in the market at the time the order is\r\n                processed.\r\n            <\/p>\r\n\r\n            <p>\r\n                This means the price you see before placing the order may\r\n                not always be exactly the price at which the whole order\r\n                is executed.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-tip\">\r\n                LuSE lists a market order as an order asking the broker\r\n                to buy or sell at the market price. :contentReference[oaicite:2]{index=2}\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 07 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">07 \/ 15<\/span>\r\n\r\n            <h3>What Is a Limit Order?<\/h3>\r\n\r\n            <div class=\"zs23-visual\">\r\n\r\n                <div class=\"zs23-icon\">\ud83c\udfaf<\/div>\r\n\r\n                <strong>\r\n                    You specify the price you are willing to accept.\r\n                <\/strong>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                A limit order lets you specify the price at which you want\r\n                to buy or sell.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-example\">\r\n\r\n                <h4>Simple Example<\/h4>\r\n\r\n                <p>\r\n                    Suppose a share is currently showing around K10.\r\n                <\/p>\r\n\r\n                <p>\r\n                    You decide that you only want to buy it at K9.50\r\n                    or another price you specify.\r\n                <\/p>\r\n\r\n                <p>\r\n                    You can place a limit buy order at your chosen price,\r\n                    subject to the order being matched and the applicable\r\n                    market rules.\r\n                <\/p>\r\n\r\n            <\/div>\r\n\r\n            <div class=\"zs23-highlight\">\r\n                A limit order gives you price control, but it does not\r\n                guarantee that the order will be executed.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 08 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">08 \/ 15<\/span>\r\n\r\n            <h3>Buy Limit vs Sell Limit<\/h3>\r\n\r\n            <div class=\"zs23-order\">\r\n\r\n                <div class=\"zs23-order-card\">\r\n\r\n                    <h4>BUY LIMIT<\/h4>\r\n\r\n                    <div class=\"zs23-order-icon\">\ud83d\udfe2<\/div>\r\n\r\n                    <p>\r\n                        You specify the maximum price you are prepared\r\n                        to pay for the shares.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n                <div class=\"zs23-order-card sell\">\r\n\r\n                    <h4>SELL LIMIT<\/h4>\r\n\r\n                    <div class=\"zs23-order-icon\">\ud83d\udfe0<\/div>\r\n\r\n                    <p>\r\n                        You specify the minimum price at which you want\r\n                        to sell the shares.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                The important idea is that the price instruction works\r\n                differently depending on whether you are buying or selling.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-tip\">\r\n                <strong>Buy limit:<\/strong> \"I don't want to pay more than\r\n                my chosen price.\"<br><br>\r\n\r\n                <strong>Sell limit:<\/strong> \"I don't want to sell below\r\n                my chosen price.\"\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 09 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">09 \/ 15<\/span>\r\n\r\n            <h3>What Is a Stop Order?<\/h3>\r\n\r\n            <div class=\"zs23-visual\">\r\n\r\n                <div class=\"zs23-icon\">\ud83d\uded1 \u2192 \ud83d\udccb<\/div>\r\n\r\n                <strong>\r\n                    A stop order uses a specified trigger price.\r\n                <\/strong>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                A stop order is another type of order described by LuSE.\r\n                It uses an approximate or trigger price.\r\n            <\/p>\r\n\r\n            <p>\r\n                When the specified price is reached, the stop order becomes\r\n                a market order according to the exchange's rules.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-highlight\">\r\n                Stop orders can be more advanced than the basic buy and\r\n                sell orders covered in this beginner lesson. Always understand\r\n                how your broker or platform handles them before using one.\r\n            <\/div>\r\n\r\n            <p>\r\n                For beginners, the most important thing is to understand\r\n                the difference between a market order and a limit order first.\r\n            <\/p>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 10 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">10 \/ 15<\/span>\r\n\r\n            <h3>Your Order May Not Be Filled Immediately<\/h3>\r\n\r\n            <div class=\"zs23-visual\">\r\n\r\n                <div class=\"zs23-icon\">\u23f3\ud83d\udccb<\/div>\r\n\r\n                <strong>\r\n                    Placing an order does not always mean an instant trade.\r\n                <\/strong>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                Imagine you place a limit order to buy 1,000 shares at K10,\r\n                but sellers are only offering shares at K11.\r\n            <\/p>\r\n\r\n            <p>\r\n                Your order may not match at that moment because the price\r\n                you specified and the available selling price are different.\r\n            <\/p>\r\n\r\n            <p>\r\n                Depending on the order conditions, your order may remain\r\n                active, be cancelled or expire.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-tip\">\r\n                <strong>Important:<\/strong> An order is an instruction.\r\n                A completed trade happens only when the required conditions\r\n                for matching and execution are met.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 11 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">11 \/ 15<\/span>\r\n\r\n            <h3>What If Only Part of Your Order Matches?<\/h3>\r\n\r\n            <div class=\"zs23-example\">\r\n\r\n                <h4>Example<\/h4>\r\n\r\n                <p>\r\n                    You want to buy 1,000 shares at K10.\r\n                <\/p>\r\n\r\n                <p>\r\n                    But only 400 shares are available from matching sellers\r\n                    at the required price.\r\n                <\/p>\r\n\r\n                <p>\r\n                    Depending on the order conditions selected, part of the\r\n                    order may be executed and the remaining quantity may\r\n                    stay active or be cancelled.\r\n                <\/p>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                This is why investors should understand the conditions\r\n                attached to their order.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-highlight\">\r\n                The exact treatment of partially filled orders depends on\r\n                the order type, qualifiers and applicable market rules.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 12 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">12 \/ 15<\/span>\r\n\r\n            <h3>How Long Does an Order Stay Active?<\/h3>\r\n\r\n            <p>\r\n                An order does not necessarily stay in the market forever.\r\n                Its duration can depend on the time-in-force instruction\r\n                selected.\r\n            <\/p>\r\n\r\n            <div class=\"zs23-order\">\r\n\r\n                <div class=\"zs23-order-card\">\r\n\r\n                    <h4>Day Order<\/h4>\r\n\r\n                    <div class=\"zs23-order-icon\">\ud83d\udcc5<\/div>\r\n\r\n                    <p>\r\n                        Generally remains active for the trading day,\r\n                        subject to market rules.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n                <div class=\"zs23-order-card sell\">\r\n\r\n                    <h4>Good Till Date<\/h4>\r\n\r\n                    <div class=\"zs23-order-icon\">\ud83d\udcc6<\/div>\r\n\r\n                    <p>\r\n                        Remains active until a specified date,\r\n                        subject to the applicable rules.\r\n                    <\/p>\r\n\r\n                <\/div>\r\n\r\n            <\/div>\r\n\r\n            <p>\r\n                LuSE trading procedures include time-in-force options such\r\n                as Day Order and Good Till Day. :contentReference[oaicite:3]{index=3}\r\n            <\/p>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 13 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">13 \/ 15<\/span>\r\n\r\n            <h3>A Simple Zambian Example<\/h3>\r\n\r\n            <div class=\"zs23-example\">\r\n\r\n                <h4>Imagine You Want to Buy Shares<\/h4>\r\n\r\n                <p>\r\n                    You have researched a listed company and decide that\r\n                    you want to buy 200 shares.\r\n                <\/p>\r\n\r\n                <p>\r\n                    You tell your broker or use the available approved\r\n                    trading platform to enter the order.\r\n                <\/p>\r\n\r\n                <p>\r\n                    You select the company, choose BUY, enter 200 shares\r\n                    and provide the required price and order conditions.\r\n                <\/p>\r\n\r\n                <p>\r\n                    The order is then handled according to the market's\r\n                    trading rules and can be matched with a suitable\r\n                    selling order.\r\n                <\/p>\r\n\r\n            <\/div>\r\n\r\n            <div class=\"zs23-tip\">\r\n                Do your research before placing an order. The order screen\r\n                should be the final step, not the first step.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 14 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">14 \/ 15<\/span>\r\n\r\n            <h3>Before You Press Buy or Sell<\/h3>\r\n\r\n            <p>\r\n                Take a moment to check your order carefully.\r\n            <\/p>\r\n\r\n            <ul>\r\n                <li>Am I selecting the correct company?<\/li>\r\n                <li>Am I choosing BUY or SELL correctly?<\/li>\r\n                <li>Is the number of shares correct?<\/li>\r\n                <li>Is the price correct?<\/li>\r\n                <li>Have I selected the correct order type?<\/li>\r\n                <li>Do I understand the order conditions?<\/li>\r\n                <li>Have I considered commissions and other charges?<\/li>\r\n                <li>Do I have enough available funds if I am buying?<\/li>\r\n                <li>Am I selling shares that I actually own?<\/li>\r\n            <\/ul>\r\n\r\n            <div class=\"zs23-highlight\">\r\n                <strong>Never rush an order.<\/strong> A few seconds spent\r\n                checking the details can help prevent an avoidable mistake.\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <!-- 15 -->\r\n\r\n        <div class=\"zs23-slide\">\r\n\r\n            <span class=\"zs23-number\">15 \/ 15<\/span>\r\n\r\n            <div class=\"zs23-complete\">\r\n\r\n                <div class=\"zs23-complete-icon\">\ud83c\udf93<\/div>\r\n\r\n                <h3>Lesson Complete!<\/h3>\r\n\r\n                <p>\r\n                    Well done! You now understand the basic idea of buy\r\n                    and sell orders.\r\n                <\/p>\r\n\r\n                <div class=\"zs23-visual\">\r\n\r\n                    <div class=\"zs23-flow\">\r\n\r\n                        <div class=\"zs23-box\">\r\n                            BUY\r\n                        <\/div>\r\n\r\n                        <div class=\"zs23-arrow\">\u2194<\/div>\r\n\r\n                        <div class=\"zs23-box\">\r\n                            MARKET\r\n                        <\/div>\r\n\r\n                        <div class=\"zs23-arrow\">\u2194<\/div>\r\n\r\n                        <div class=\"zs23-box\">\r\n                            SELL\r\n                        <\/div>\r\n\r\n                    <\/div>\r\n\r\n                <\/div>\r\n\r\n                <div class=\"zs23-highlight\">\r\n                    <strong>Remember:<\/strong><br>\r\n                    A buy or sell order is an instruction. A trade is completed\r\n                    when compatible orders are matched according to the\r\n                    market's rules.\r\n                <\/div>\r\n\r\n                <p>\r\n                    Always understand the price, quantity, order type and\r\n                    conditions before submitting an order.\r\n                <\/p>\r\n\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n\r\n        <div class=\"zs23-navigation\">\r\n\r\n            <button\r\n                type=\"button\"\r\n                class=\"zs23-btn zs23-prev\"\r\n                id=\"zs23Prev\">\r\n                \u2190 Previous\r\n            <\/button>\r\n\r\n            <div class=\"zs23-counter\" id=\"zs23Counter\">\r\n                1 \/ 15\r\n            <\/div>\r\n\r\n            <button\r\n                type=\"button\"\r\n                class=\"zs23-btn zs23-next\"\r\n                id=\"zs23Next\">\r\n                Next \u2192\r\n            <\/button>\r\n\r\n        <\/div>\r\n\r\n    <\/div>\r\n\r\n<\/div>\r\n\r\n\r\n<script>\r\n(function() {\r\n\r\n    const lesson = document.querySelector('.zs23-lesson');\r\n\r\n    if (!lesson) return;\r\n\r\n    const slides = lesson.querySelectorAll('.zs23-slide');\r\n    const nextButton = lesson.querySelector('#zs23Next');\r\n    const prevButton = lesson.querySelector('#zs23Prev');\r\n    const counter = lesson.querySelector('#zs23Counter');\r\n    const progress = lesson.querySelector('#zs23Progress');\r\n\r\n    let current = 0;\r\n\r\n    function showSlide(number) {\r\n\r\n        slides.forEach(function(slide, index) {\r\n\r\n            slide.classList.toggle(\r\n                'active',\r\n                index === number\r\n            );\r\n\r\n        });\r\n\r\n        counter.textContent =\r\n            (number + 1) + ' \/ ' + slides.length;\r\n\r\n        progress.style.width =\r\n            (((number + 1) \/ slides.length) * 100) + '%';\r\n\r\n        prevButton.style.visibility =\r\n            number === 0 ? 'hidden' : 'visible';\r\n\r\n        if (number === slides.length - 1) {\r\n\r\n            nextButton.style.display = 'none';\r\n\r\n        } else {\r\n\r\n            nextButton.style.display = 'block';\r\n\r\n        }\r\n\r\n        lesson.scrollIntoView({\r\n            behavior: 'smooth',\r\n            block: 'start'\r\n        });\r\n    }\r\n\r\n    nextButton.addEventListener('click', function() {\r\n\r\n        if (current < slides.length - 1) {\r\n\r\n            current++;\r\n            showSlide(current);\r\n\r\n        }\r\n\r\n    });\r\n\r\n    prevButton.addEventListener('click', function() {\r\n\r\n        if (current > 0) {\r\n\r\n            current--;\r\n            showSlide(current);\r\n\r\n        }\r\n\r\n    });\r\n\r\n    showSlide(current);\r\n\r\n})();\r\n<\/script>\n<p><a href=\"https:\/\/www.zambiashares.com\/learn-investing\/lesson-21-how-a-share-purchase-works\/\">Buying<\/a> and <a href=\"https:\/\/www.zambiashares.com\/learn-investing\/lesson-22-how-a-share-sale-works\/\">selling shares<\/a> may sound complicated when you are new to the stock market. In reality, the basic idea is quite simple: a <strong>buy order<\/strong> tells the market that you want to purchase shares, while a <strong>sell order<\/strong> tells the market that you want to sell shares you own.<\/p>\n<p>When investing through the Zambian stock market, an investor can give instructions through a stockbroker or use an available approved market-access channel. <a href=\"https:\/\/www.zambiashares.com\/\">LuSE<\/a> explains that a trade is completed when a buying order and selling order match under the relevant trading conditions.<\/p>\n<p>But placing an order does not always mean that your trade will happen immediately. The result can depend on the price you choose, the number of shares available from other investors, the type of order and the conditions attached to it.<\/p>\n<p>For example, suppose you want to buy 100 shares at K10. If a suitable seller is available at the required price, your order may be matched. If sellers are asking for a higher price, your order may not be executed at that time.<\/p>\n<p>In this lesson, you will learn the difference between buy and sell orders, how orders are matched, and the basic difference between market, limit and stop orders. You will also learn why an order may remain unfilled, why only part of an order may be executed, and what you should check before submitting an order.<\/p>\n<p>The goal is not to encourage you to trade quickly. The goal is to help you understand <strong>what actually happens when you tell the market to buy or sell shares<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying and selling shares may sound complicated when you are new to the stock market. In reality, the basic idea [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_theme","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[11],"tags":[],"class_list":["post-217","post","type-post","status-publish","format-standard","hentry","category-understanding-the-zambian-stock-market"],"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"ZambiaShares.com","author_link":"https:\/\/www.zambiashares.com\/learn-investing\/author\/invstzmadmin\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/www.zambiashares.com\/learn-investing\/category\/stock-market-learning\/understanding-the-zambian-stock-market\/\" rel=\"category tag\">Understanding the Zambian Stock Market<\/a>","rttpg_excerpt":"Buying and selling shares may sound complicated when you are new to the stock market. In reality, the basic idea [&hellip;]","_links":{"self":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/posts\/217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/comments?post=217"}],"version-history":[{"count":0,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/posts\/217\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/media?parent=217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/categories?post=217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zambiashares.com\/learn-investing\/wp-json\/wp\/v2\/tags?post=217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}