I have tried to set a stop loss which has been pending and does not let me cancel! what the hell is the point of a stop loss that doesn’t work and prevents you from selling those shares ?!?
I upgraded to freetrade plus to only be disadvantaged further! is this a joke??!?
3 posts won’t get you an answer any quicker.
Is it pending because it’s gone below the truce you want to sell at, and is a low volume share (i.e. they’re trying to find you a buyer).
Are you day trading?
Trying to get into Roblox straight away when they started trading was never going to work with any retail broker.
This is what I was trying to understand, and couldn’t find the answer anywhere. I waited hours for roblox to become available to buy, and when it was the price has jumped 60%, and is pretty sitting at that level now meaning any opportunity was completely lost. I’m just trying to understand why, is there an effectively ‘unfair’ playing field here where other brokers get first dibs?
I wouldn’t worry about it, you’re never going to beat the companies that spend billions on developing there own computer networks to give them an edge.
Yes, there is an unfair playing field, in the sense that the big institutional investors with millions/billions of dollars to invest are way ahead of us little folk. Freetrade have written an article about this:
@sampoullain was all over it on the day and it looks like Freetrade got in ahead of some other retail brokers, and in any case as soon as it was possible: [🔥IPO] ROBLOX Corp - RBLX - #101
The stock was available but the buy button was disabled until the stock had skyrocketed.
By analysing those orders, the market maker can get a sense of how much demand there is to buy a particular stock versus how much is available to sell.
Their goal in doing this is to try and figure out what the optimal price is that will allow for the maximum volume of buying and selling in the stock when it begins trading.
So market makers never actually sell a new share at market open, they wait to see what the demand is and then set the price?
Seems like a pretty strange process. If you’re a buyer it’s in your interest for all buyers to hold off as long as possible to ensure the price does not get raised.
If you’re a seller, you could potentially do something like put in loads of buy orders knowing that the orders will not be executed right away but you could push the price up at no extra cost to yourself.
I guessed that would be the case. Will take a look at the article.