I placed a limit trigger to sell today when a stock Iām holding hit $62.
The stock hit that value, stayed there for a while and dropped down again. Throughout the day it has hit that figure multiple times.
My sell order is still pending and Iāve got absolutely no idea if itās been triggered or for some reason, it hasnāt. Iāve contacted customer support but theyāre non existent.
I tried cancelling the sell limit and selling at market. Nope canāt do that because the sell order canāt be cancelled now, so itās just stuck in limbo and says I have no shares but I havenāt sold any either.
If this stock now plummets to way below what I wanted to and tried to sell for Iāll just forward the losses on to FreeTrade I assume?
If youāre sell order is pending then its already been sent. If its been filled depends on lots of factors that you can read about in the election policy. Youāve not really given much information to say much more than that.
No
they donāt trigger on the displayed prices they trigger on live prices as I understand
The sell limit was met multiple times, the holding is only 11.6 shares so shouldnāt have had any issue selling quite quickly.
The sell limit was met multiple times throughout the opening of the market, for a sustained period of time also.
As far as Iām concerned, Iāve paid extra for a service, placed a sell order, and the technology behind the app has let me down. Despite doing everything exactly as it should be done, if this order wasnāt executed then Iāve been shafted by the FreeTrade app and nothing else.
A friend sold his shares in the same stock at market instead of sell order and his went through immediately.
My sell order is still in a pending state on the app from what I can see, yet when I try to cancel it, it tells me I canāt do that right now and to try again later.
For clarity, yes I know itās executed live and I was monitoring Yahoo Finance as I was making my sell order. I only use the app to buy and sell, not check price movements.
To be honest Iām hoping this is just a bug but once this is resolved Iāll be taking my money out and closing my account. I not supporting apps that play fast and loose with peopleās money. As a developer myself, I can tell this code hasnāt been thoroughly tested before pushing live and that is indefensible.
Have you read the execution policy?
what stock was it?
what price did you set the limit order to?
it sounds like youāre saying you canceled the limit order and manually placed a instant order?
**Triggered Order**
A Triggered Order is an instruction to submit:
ā
a buy order when the observed price during normal market hours falls to or below the Trigger price set by you (a Triggered Buy Order);
ā
a sell order when this observed price rises to or above the Trigger price set by you (a Triggered Sell Order);
ā
or a sell order when this observed price falls to or below the Trigger price set by you (a Triggered Stop Loss Order).
You can only cancel a Triggered Order (of any type) up until the point it is triggered.
Once the order has triggered, it is not possible to cancel.
Where a Triggered Order executes, the actual execution price you receive may be higher or lower than the Trigger price due to market prices moving between an instruction triggering and the order executing, or due to differences between prices published in data feeds and the price at which our market counterparties or other market participants available to us are willing to execute a buy or a sell order.
If the observed market price reaches the Trigger price you set, it will not always mean that your order will be sent or executed, for example, due to differences between price data and the prices at which our market counterparties or other market participants available to us are willing to buy or sell.
You should be conscious to accept the risk associated with this type of instruction. Freetrade will not be liable for losses incurred due to the selection of the Triggered Order type, save any assessment made by us that we have fallen short of our best execution obligations.
The stock is $CCIV. The stock is fine, itās still trading. Nothing abnormal has happened with the stock.
The sell limit was set for $62, which it has hit multiple times throughout the day. My order still says pending.
Thatās not what Iām saying. Here is what Iām saying:
I placed a sell order for $62.
The stock hit that price and went over.
The sell limit was still pending.
I waited for 30 minutes, during this time the stock maintained a price of over $62.
I then tried to cancel my sell order.
The app told me I could not cancel my sell order at this time, which I presumed to mean it had activated.
4 hours later, the stock has hit that price multiples times, my order is still pending and I canāt cancel it.
If I would have sold at market order instead, the sale would have been instant, like it was for my friend who did exactly the same thing.
The app says I still hold 11.3 shares, however I canāt sell them at market. It also says my triggered sell is āactiveā.
it was at $62 (average) for less than 1 minutes at 9:35 am then for 3 minutes at 3:38am. give or take. Thats is. it never hit that price again throughout the entire day. as the execution policy says it also depends on whoās willing to buy them and the prices being offered by the buyers. Just because a live chart says its gone over $62 for a second doesnāt actually mean anyone wants to buy youāre shares or that the price has gone over $62 got the buy price.
you tried to cancel your limit order or a sell order? sorry youāre mixing up terms a bit I just wanted to get a clear picture of what is actually in the app. if its a limit order it will still be showing as a limit order, if its not it will show as an actual market order.
The stock has had huge volume all day. The selling of 11 shares would have been snapped up in the 4 minutes you mentioned, easily.
My limit order that is set to sell at $62. I tried to cancel that and sell at market instead once I realised it wasnāt working. As I previously said, selling at market is instant and works fine. Setting limit orders doesnāt work effectively.
Ah yeah ok I see what you mean, so its not been triggered then as far as I understand but that you cant cancel it probably means it may have tried toā¦ this case I havenāt seen so youāll need to message them. it may likely return to a normal state at 930 tonight though if not sooner.
Iāve literally no idea at this point. I donāt know if Iām coming or going. Iām hoping it will resolve itself when the market closes tonight but Iām not holding my breathe.
Iāve also contacted them via the app, here, and email. Heard nothing and by the looks of what other people are saying, I very much doubt I will hear anything. Hopefully it fixes itself later.
Yeh I cancelled a limit order today at 65 no issue. Yahoo has it hitting 61.84 at midday US but that initial sell-off shouldāve been enough at open. In the past support couldve looked at backend or L2 data for you but I donāt know if youāll hear back immediately given the backlog. Would be interested to hear their take as CCIV is a choppy one.
It seems it has triggered but it hasnāt resolved? The price was met so it should have completed to the sale even if it was slightly below $62, as stated in their execution policy. That Iām fine with, itās this limbo of not knowing whether or not Iām going to get a return or finding out tomorrow, when this stock drops to $30, that Iām left holding the bag.
