That’s all my ideas gone
You also have to take into consideration that you’re trying to trade a pennystock. It’s volatility is very very high. Prices change very strongly with most trades made (illiquidity). As a beginner you should definitely not try to trade stocks like this one.
The bid/ask spread is eating you up. Don’t make trades like this.
- How did you check prices? I would suggest using google finance. Even yahoo looks delayed to me
- Have you checked execution prices at LSE? were they inline with other trades executed at similar time? if stock doesn’t have good liquidity, this may be issue
Thank you for your replies - I guess I’ve learned my lesson here! As a new trader I jumped head first into buying penny stocks at volume!
These look to be your trades.
Your problem will be that the share price quoted is essentially the largest last filled order price. As a buy order was filled you saw 1.13 then a sell order came through and it dropped to 0.98 but that does not mean you can transact at 0.98.
Does that make sense?
penny stocks are close to gamble in my view
and I don’t think Freetrade wants to be a place for penny traders
alas for new investors we are very easily to be attracted to penny stocks because they are sexy and exciting
Thanks, yes it makes sense now. I didn’t quite understand how it worked before.
Happy to help. It is maddening to think you have got the pattern and then keep getting stiffed. In future, now that trades are free maybe, maybe dip your toe in with a small lot to test how wide off the mark prices are.
Definitely! I think it’s tempting to go all in, knowing that the share prices are so low because of the current economic climate and fear of missing out, but I totally agree!
I’ve already sold it all - Might be tempted to buy into Sound Energy again if they come any closer to sealing their oil deal with Morocco. Keeping one eye open.
I think this is an example of where having an Order Confirmation Screen would be helpful.
Another persons post about the same thing again, time to be telling people a confirmed price. I saw someone comment that its in the pipeline. Any news on this?
I totally agree!
Carly, Han seems right hear. the price quoted as “the price” is just the mid price between the bid & offer (buy and sell), the buy and sell price is always different. Check the bid/offer prices as this will give you the actual price to buy sell at. Good luck
Hey all, I’ve taken everyone’s advice on board and today I’m £70 up from when I posted this post by investing more carefully. As a new trader it’s easy to trip up fast by not understanding the market properly. Thanks for your support!
Out of curiosity, was this from trading one stock in particular?
Not just one stock, a combination of a few. Increases of between £5 and £25 on different ones combined. It seems to have been a decent week on the FTSE 100 with stocks recovering. My main focuses at the moment are oil, tech and student lettings.
A brief word of warning… I’m guessing from the buys/sells you mentioned in your original post that you’re looking to make a quick profit. Be very careful as it’s very difficult to make money this way. I always advise my friends and family to think long term when it comes to investing.
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