I think you are wise to avoid as it could be very costly couldnt it, especially on the larger trades. Luckily for me I was testing a few small trades to try out the new upgraded membership. I have had a lot more success with the triggered for US stock. Since my post there have been 2 others that failed, one where the price was a fair bit below my order and for a substancial time as well, not just a small dip, so that was disappointing. I had high hopes for the upgraded benefits and hope I find it worth it over the next few weeks or I might as well go back to basic.
I have set you another reply, i hope you can look into it.
In my opinion the limit order function is more miss than hit, I have tried 3 on one stock all at different levels and despite the price falling below 2 of them on fiday and again today none of them have closed, its very disapointing and so far dows nothing to give me confidence to use or rely on it as a serious tool when trading normally. It could be a costly mistake. Im hopeful FT will look into it as it could be a great tool. I use it a lot in crypto trading and its invaluable.
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Donât work a lot of the time. Dire itâs a basic function with other brockers.
Do you already have a sell order covering all the shares for that stock? If so, you cannot set another one for the same shares.
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Was it a technical issue in the end mikepike?
I agree MP, over the last couple of weeks, Iâve set a fair few limit orders for various stocks and despite falling much lower than the limit price most have not closed. I was hoping that this would have been looked at seriously because as you rightly sayvthis is s basic offering with many others and workes very well, so i for one exoe t it to work seemlesly as it a benefitcthats being charged gor by FT. I will add that the limit irders i have placed have been small test orders, but if these had been serious limit or stop loss then it would have been costly to trust it. So far and on a positive note, i have had near 100%success with triggered orders though. Ill add an update if i get any resolution, but so far im not hopeful despit having multiple screen prints of specific orders etc.
No It was not a technical issue. I am a nobhead I put a limit order on 2 weeks ago and forgot about it. I did apologies to the nice lady. Please do not remind me again as not checking was plain stupid.
As it happened I sold NAIT at 309 the day before exdivided and bought back in my ISA on exdivided day for 304. Dividend was 2.5p. Thatâs why I was panicking.
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For the stop loss to work the share price must fall to your exact price. Sometimes it can miss it out. If so they cannot sell as it would not be for the exact price you set. That doesnât apply to limit orders to buy as in that case you would be getting them cheaper.
Shares will often start the day below or above the previous days finish depending news, whatâs happening in the market.
The day before exdivided the shares will normally start higher and on exdivided day will start lower. The difference invariably greater than the dividend.
All market makers have to make a market. They have to make a buy and sell price. It matters not one iota if they have the shares to sell they still have sell them to you. They have to find them by offering a higher price, or going to another market maker and saying âplease sell me some, I will do the same for you when you are shortâ !!
This is particularly incorrect. The latter only applies to over the counter market and not to an exchange.
Thatâs the actual point of an exchange. For there to always to be a buyer and seller.
The point of the OTC is cut out the market maker (although there is other reasons)
None of the stop loss triggered exact price. Always below the set price. One where I contacted support for the stop loss was triggered way below set price.
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Weird way this âstockbrokerâ works
Suggest a limit order to sell?
It is normal for stop loss to be tiggered slightly below the set price. That is not a suprise. But when it is triggered for a sudden price drop that is not visible in charts or publicly available price info then it makes you wonder.
IESG ETF even now if you go on yahoo finance and check sep 8 2022 will see low price as 4656.16.
my stop loss was 45.50
sold for 42 and I was given a screenshot of a terminal showing price going below 45.50 for a short time by support.