Pending sell trigger not executing

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#1

Hi

I placed a limit trigger to sell today when a stock Iā€™m 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 Iā€™ve got absolutely no idea if itā€™s been triggered or for some reason, it hasnā€™t. Iā€™ve contacted customer support but theyā€™re non existent.

I tried cancelling the sell limit and selling at market. Nope canā€™t do that because the sell order canā€™t be cancelled now, so itā€™s just stuck in limbo and says I have no shares but I havenā€™t sold any either.

If this stock now plummets to way below what I wanted to and tried to sell for Iā€™ll just forward the losses on to FreeTrade I assume?

#2

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#3

If youā€™re 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. Youā€™ve not really given much information to say much more than that.

No

they donā€™t trigger on the displayed prices they trigger on live prices as I understand

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#4

I was under the impression they will trigger once the in app price updates, otherwise surely the price would update in app no?

#5

Nope, itā€™s executed on live market not what you see in the app.

Same for most brokers.

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#6

The sell limit was met multiple times, the holding is only 11.6 shares so shouldnā€™t 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 Iā€™m concerned, Iā€™ve 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 wasnā€™t executed then Iā€™ve 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 canā€™t do that right now and to try again later.

For clarity, yes I know itā€™s 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 Iā€™m hoping this is just a bug but once this is resolved Iā€™ll be taking my money out and closing my account. I not supporting apps that play fast and loose with peopleā€™s money. As a developer myself, I can tell this code hasnā€™t been thoroughly tested before pushing live and that is indefensible.

2 Likes
#7

Oh, thatā€™s good news. Do you know where I could confirm this?

As I may look into getting Plus nowā€¦

#8

Which stock are you referring to? Might help diagnose what happened

#9

$CCIV

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#10

Have you read the execution policy?
what stock was it?
what price did you set the limit order to?
it sounds like youā€™re saying you canceled the limit order and manually placed a instant order?

#11

Yes, Iā€™ve read this:

**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, itā€™s 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.

Thatā€™s not what Iā€™m saying. Here is what Iā€™m saying:

  1. I placed a sell order for $62.
  2. The stock hit that price and went over.
  3. The sell limit was still pending.
  4. I waited for 30 minutes, during this time the stock maintained a price of over $62.
  5. I then tried to cancel my sell order.
  6. The app told me I could not cancel my sell order at this time, which I presumed to mean it had activated.
  7. 4 hours later, the stock has hit that price multiples times, my order is still pending and I canā€™t 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 canā€™t sell them at market. It also says my triggered sell is ā€˜activeā€™.

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#12

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 whoā€™s 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 doesnā€™t actually mean anyone wants to buy youā€™re 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 youā€™re 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.

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#13

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 wasnā€™t working. As I previously said, selling at market is instant and works fine. Setting limit orders doesnā€™t work effectively.

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#14

See here:

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#15

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 havenā€™t seen so youā€™ll need to message them. it may likely return to a normal state at 930 tonight though if not sooner.

#16

Maybe @anantsangar can take a look at this for you

5 Likes
#17

Iā€™ve literally no idea at this point. I donā€™t know if Iā€™m coming or going. Iā€™m hoping it will resolve itself when the market closes tonight but Iā€™m not holding my breathe.

Iā€™ve 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.

#18

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 shouldā€™ve been enough at open. In the past support couldve looked at backend or L2 data for you but I donā€™t know if youā€™ll hear back immediately given the backlog. Would be interested to hear their take as CCIV is a choppy one.

#19

It seems it has triggered but it hasnā€™t 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 Iā€™m fine with, itā€™s this limbo of not knowing whether or not Iā€™m going to get a return or finding out tomorrow, when this stock drops to $30, that Iā€™m left holding the bag.

1 Like
#20

I hope it drops to 30 :heart_eyes::heart_eyes::heart_eyes::money_mouth_face::money_mouth_face: