The basic steps to sell stock on E-Trade
To sell stock on E-Trade, log into your account, find the stock in your portfolio, click the sell button, enter how many shares you want to sell, review the order details, and submit. The entire process takes about two minutes once you are logged in. Your shares will sell at the market price (or the limit price you set) during market hours, and the cash lands in your account within two business days.
E-Trade offers two main ways to sell: at market price, which executes when ready at whatever price the stock is trading for right now, or at a limit price, which only sells if the stock reaches the price you choose. Most people use market orders because they are faster and more certain to go through. Limit orders are useful if you want to wait for a higher price, but they may never execute if the stock does not reach your target.
Key Takeaways
- Market orders sell your shares when ready at the current price, while limit orders only sell if the stock reaches a price you set.
- E-Trade charges no commission on stock sales, but you will pay the bid-ask spread (the difference between what buyers and sellers are willing to pay).
- Cash from a stock sale appears in your account within two business days, but you can use it to buy other stocks right away.
- You can cancel a pending order before market close on the day you place it, but once the order fills, the sale is final.
How to place a market order to sell when ready
Open E-Trade and go to your portfolio. Find the stock you want to sell and click on it. A details panel will open showing your position — the number of shares you own and what you paid for them. Click the "Sell" button (not "Short Sell" or any other option). A sell order form will appear.
In the order form, enter the number of shares you want to sell. You can sell all your shares or just some of them. Leave the order type set to "Market" unless you have a reason to use a limit order. Review the order summary, which shows the stock symbol, the number of shares, and the order type. E-Trade will show you an estimated price based on the last trade, but the actual price may be slightly different when your order executes. Click "Preview Order" and then "Submit Order" to send it.
Your order will execute during market hours (9:30 a.m. to 4 p.m. Eastern time on weekdays when the market is open). If you place an order after market close, it will execute the next trading day. You will see a confirmation number on screen and receive an email confirmation within minutes.
How to place a limit order to sell at a specific price
A limit order lets you name the price at which you are willing to sell. Use this when you want to wait for a higher price or when you are selling after market hours and want to control the price. Follow the same steps as a market order, but change the order type from "Market" to "Limit." E-Trade will ask you to enter your limit price — the minimum price you will accept for each share.
If the stock never reaches your limit price, your order will not execute. It will sit open until you cancel it or until the end of the trading day (if you set it as a day order, which is the default). If you want the order to stay open for longer, you can set it as a "Good-Til-Canceled" order, which remains active until the stock hits your price or you manually cancel it. Be aware that a Good-Til-Canceled order can execute weeks or months later, so check your account regularly to make sure you still want to sell at that price.
Understanding costs and timing
E-Trade charges no commission on stock sales. However, you will pay the bid-ask spread, which is the difference between what buyers are willing to pay (the bid) and what sellers are asking (the ask). For popular stocks, this spread is usually just a few cents per share. For less-traded stocks, the spread can be wider, meaning you get less money per share. This is not a fee E-Trade charges — it is the cost of the market itself.
Cash from your sale appears in your account within two business days, but you can use it to buy other stocks when ready. If you sell on a Monday, the cash settles on Wednesday. If you sell on a Friday, it settles on Tuesday (because the market is closed on weekends). You cannot withdraw the cash until it settles, but you can reinvest it right away.
Canceling or changing an order before it executes
If you change your mind after placing an order but before it executes, you can cancel it. Go to your "Orders" section in E-Trade, find the pending order, and click "Cancel." This works only if the order has not yet filled. Once your shares sell, the order is complete and cannot be undone — you would have to place a new buy order if you wanted to get those shares back.
You can cancel a market order only before market open or after market close, because market orders execute so quickly during trading hours that there is usually no time to cancel. Limit orders can be canceled at any time before they execute. If you cancel an order and then want to sell the same shares at a different price, you will need to place a new order.
What happens after your order executes
Once your order fills, you will receive a confirmation showing the number of shares sold, the price per share, the total proceeds, and the settlement date. Your portfolio will update to show that you no longer own those shares. The cash will show as "unsettled" for two business days, then move to your cash balance.
If you sold shares that you held for more than one year, you may owe capital gains tax on the profit. If you sold shares you held for less than one year, the gain is taxed as ordinary income. E-Trade does not withhold taxes on stock sales — you are responsible for reporting the sale on your tax return. E-Trade will send you a Form 1099-B in January showing all your sales from the previous year, which you will use when filing taxes.
Common mistakes to avoid when selling stock
Do not confuse "Sell" with "Short Sell." Short selling is borrowing shares to sell them, betting the price will drop. It is a risky strategy and not what you want if you straightforward own shares and want to cash out. Always click "Sell," not "Short Sell."
Do not assume a limit order will execute just because you set it. If the stock never reaches your limit price, you will still own the shares. Check your orders regularly to see if they have filled. Do not place a limit order and then forget about it for months — you may miss a chance to sell at a better price, or the stock may drop and your order never executes.
Do not sell all your shares of a stock by accident. E-Trade will ask you to confirm the number of shares, so read carefully. If you want to sell only half your position, enter that number, not the total.
Frequently Asked Questions
Can I sell stock after market hours?
You can place an order after market hours, but it will not execute until the market opens the next trading day. Market orders placed after hours will execute at the opening price (or close to it) the next morning. Limit orders placed after hours will wait until the stock reaches your limit price during regular market hours.
What if I sell a stock and then want to buy it back?
You can buy it back anytime, but be aware of the "wash sale" rule. If you sell a stock at a loss and buy the same stock (or a substantially identical one) within 30 days before or after the sale, the IRS will not let you deduct the loss on your taxes. This rule applies to losses only, not gains.
Do I have to sell all my shares at once?
No. You can sell as many or as few shares as you want in a single order. If you own 100 shares, you can sell 25 now and 75 later. Each sale is a separate transaction and will appear separately on your tax forms.
What if my order does not execute?
If you placed a market order and it did not execute, check that you placed it during market hours and that you have enough shares to sell. If you placed a limit order, it straightforward has not reached your price yet. You can cancel it and place a new order at a different price, or wait for the stock to move.
How do I know what price my stock sold for?
E-Trade shows the execution price in your order confirmation and in your account history. You can also see all your past sales by going to "History" or "Transactions" and filtering for sales. The confirmation email also includes the price per share and total proceeds.