But it isnāt a trigger that would be useful in the scenario, is it? The aim/problem in the scenario isnāt 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 Iāve 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 £35.10 or £40?
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 wouldnāt 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
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).
You canāt really say ābuy if they drop to 3p but only if they stay thereā because unless you have a time machine, you donāt know if theyāve dropped to 3p on there way down to 2p, or if itās just dropped a penny. Perhaps you could add a time delay after the trigger to ensure a condition (I.e 3p) is met but Iām not sure if this done anywhere else personally.
Iām 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 youāre looking at it from the perspective of the price dropping, whereas Iām looking at it from the point of view or protecting yourself if the price rises. If youāve made the decision to buy, then it is advantageous to you if the price drops because then youāve purchased at a price that is less than you were prepared to pay - you donāt need to protect yourself from the price dropping (as long as youāre a prospective buyer, I understand the dynamic changes if you are holder rather than a prospective buyer). It canāt become too much of a bargain. But it can become too expensive.
I think Iām just getting a bit bogged down in the mechanics of it. In any scenario where itās going to make a significant difference I suppose itās inconceivable that one wouldnāt utilise the instant buy, in which case the issue falls away.
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.
Literally I can not see myself buying on FreeTrade during these times, you have no idea what youāre getting, itāll be absolutely ridiculous to place a trade during these times. Correct me if I am wrong.
I guess the most you can do is watch the price on an app that gives you second by second prices and buy as itās falling. By no means foolproof, but itās the best I have come up with so far.