MEGATHREAD: Limit Orders

But it isnā€™t a trigger that would be useful in the scenario, is it? The aim/problem in the scenario isnā€™t that I want to make the purchase WHEN they hit X amount per share, as much as wanting to make the purchase AS LONG AS THEY STAY AT X amount per share.

Is there an answer to how instant the instant trade feature is? I think Iā€™ve seen mention of the instant trade not being able to keep up with extremely rapid price fluctuations, or am I mistaken there?

As things stand on FT, does the more precise value ever come into play? For example if I bought 1000 shares valued at 3.51p would it cost me Ā£35.10 or Ā£40?

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Ā£35.10. If you see your contract note, youā€™ll see the finalised settled price.

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Thanks, I was aware the more precise figure appeared on the contract note, I just wasnā€™t sure if it ever came into play as you went up in volume.

In your example the share price that you buy at would always be 3.51p or 0.0351 in Ā£. Its just that if you looked that share up on the app currently you wouldnā€™t know if the share is 0.0351 or 0.0399 which could impact your decision to purchase that share.

That being said there are alot more shares valued in the pounds than penny shares :wink:

You are correct here. A limit order only begins the process of buying at or below the specific execution price but often misses the fluctuations and then order fails (depending on the volatility of the stock).

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You canā€™t really say ā€˜buy if they drop to 3p but only if they stay thereā€™ because unless you have a time machine, you donā€™t know if theyā€™ve dropped to 3p on there way down to 2p, or if itā€™s just dropped a penny. Perhaps you could add a time delay after the trigger to ensure a condition (I.e 3p) is met but Iā€™m not sure if this done anywhere else personally.

Iā€™m the mean time, maybe set up a price alert (I think yahoo finance has these) to alert you if it drops to 3p so you can assess and then buy if you want.

But youā€™re looking at it from the perspective of the price dropping, whereas Iā€™m looking at it from the point of view or protecting yourself if the price rises. If youā€™ve made the decision to buy, then it is advantageous to you if the price drops because then youā€™ve purchased at a price that is less than you were prepared to pay - you donā€™t need to protect yourself from the price dropping (as long as youā€™re a prospective buyer, I understand the dynamic changes if you are holder rather than a prospective buyer). It canā€™t become too much of a bargain. But it can become too expensive.

I think Iā€™m just getting a bit bogged down in the mechanics of it. In any scenario where itā€™s going to make a significant difference I suppose itā€™s inconceivable that one wouldnā€™t utilise the instant buy, in which case the issue falls away.

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It would be a great feature to have a Stop Loss on each position. Whether a guaranteed one at a % or a normal would be very helpful. Trailing one set at a certain % we choose. To try to minimise the downside.

Cheers - T

I found it here. Stop losses when the markets are so volatile are important. Hopefully, theyā€™re on their way.

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Thereā€™s massive volatility in the markets daily right now. Now that instant orders are the default, I hope that this feature can be accelerated.

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Literally I can not see myself buying on FreeTrade during these times, you have no idea what youā€™re getting, itā€™ll be absolutely ridiculous to place a trade during these times. Correct me if I am wrong.

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I guess the most you can do is watch the price on an app that gives you second by second prices and buy as itā€™s falling. By no means foolproof, but itā€™s the best I have come up with so far.

I donā€™t mind if my comment is flagged.

FT is for investing :stuck_out_tongue_winking_eye:

Implementation of limit orders is not trivial donā€™t expect that to happen any time soon

If you are investing you still care about the price. I do not understand this view that ā€˜only traders care about priceā€™.

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Donā€™t misunderstand, I was trying to be sarcastic.

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Ah apologies, I take it back then.

This is such an essential missing feature at the moment with spreads this big.
Is there any timeline for this?

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It would be great if stop loss limit orders could be introduced in the app

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My understanding is that HL allows stop losses for UK domicile funds / shares. Would be a great feature to include in Freetrade. :pray:t2:

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