What’s the latest on GME? Sorry if this is covered, but very frustrating.
No. I think I covered that with my “Sorry if this is covered”. Thank you for your help
I think the link was meant for the first post in that topic:
Expand that and you will see what the position is with regards buying of US stocks.
Thank you @tbutz - so just a matter of keeping an eye on it and hoping these button colours change…
Was it normal to have limit orders restricted to within 200% of market price?
I don’t understand why.
The error is still showing… it is no longer saying it’s because the market is closed though.
“Limit price must be within 200% of the latest price”…
I have no clue about limit orders, sorry.
There probably never seemed any need for such a high sell order, short squeezes are rare and most stocks don’t fly up that fast. Still think you could do +200 and then if its up tomorrow put a new one on, cancel if it somehow looks like it might hit it.
I had been thinking of doing that too, but cancelling the limit order took a good 4 hours on Friday so seems like a bit of a deal breaker. (And in that time, the shares are not available for trade so are in complete limbo)
I could use a triggered sell order but market sell orders are taking a long time to go through as well (I believe) so could very well execute after a squeeze.
I must be missing something. I just don’t understand why there would be any restriction on the limit order price.
Probably worth saying there are plenty of reasons to set a high limit order outside of a short speculative play. That being said, it looks like limit orders only persist for 90 days so there’s that too…
I can’t guy GME or AMC yet, will we be able to do it?
Yes I do understand. That 4 hours isn’t normal, I just cancelled one and it took a couple of minutes, in the before-GME times it was essentially instant.
They say on the main chat that it’ll take some time before we can, but seems to imply we will be able to at some point. Fingers crossed…
Trading stopped on GME.
Do you have some examples? I’d be very curious to learn and find it hard to come up with a scenario myself, but maybe my investment strategies are different than yours.
Any investment that you think is trending upwards over the next few months, as an example, where you want to take advantage of a transient volatility (over a threshold) to then reinvest or recover original investment and hold the rest.
Essentially any situation where the live price can deviate significantly from the moving average.
If you are hands-on all the time, then fine, but if you are not a day trader, having these automatic mechanisms is a great safety net (on the way down) or a great way to take advantage of a situation that may otherwise pass you buy.
As an example, (although, granted this is not share trading), being able to set a high limit order while crypto trading meant I didn’t miss large market price rises that I otherwise would have. I was able to buy back in at a higher price than my initial investment but significantly below the recent ‘peak’ and I’m now in a ‘no risk’ situation, which is a really comfortable position to be in - thanks to a highly speculative limit sell order I had placed a good 4 months prior.
Thanks! I’m not a day trader either, so this is helpful.
I had never thought of this, but I probably have a few positions (very few though) where this may apply so will keep in mind.
200% on the way down is a bit too late for me though