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Why does the share price update on NASDAQ even when the market is closed? I'm looking at PayPal at 7:30pm Melbourne time and it is updating every second

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Just now, jeantan said:

Why does the share price update on NASDAQ even when the market is closed? I'm looking at PayPal at 7:30pm Melbourne time and it is updating every second

Hi, because you are looking at and trading on IG's nasdaq market.

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Posted (edited)
9 minutes ago, Caseynotes said:

Hi, because you are looking at and trading on IG's nasdaq market.

Yes I know. But NASDAQ should be closed right now? Why are the prices still updating?

Edited by jeantan

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Because you are not trading the index itself, you are trading an ETF that tracks the index. So they run it after hours if they want to.

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3 minutes ago, jeantan said:

Yes I know. But NASDAQ should be closed right now? Why are the prices still updating?

The actual nasdaq exchange is closed but IG's nasdaq market is open. The IG market tracks the underlying market and when the underlying is closed uses the underlying futures market to derive prices and so is able to stay open 24/5.

 

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9 minutes ago, Caseynotes said:

The actual nasdaq exchange is closed but IG's nasdaq market is open. The IG market tracks the underlying market and when the underlying is closed uses the underlying futures market to derive prices and so is able to stay open 24/5.

 

Does that mean I can't execute trades? Is it like an indicative price before the market opens?

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1 minute ago, jeantan said:

Does that mean I can't execute trades? Is it like an indicative price before the market opens?

yes you can execute trades, as @jlz says, you aren't trading the actual index on the actual exchange but are trading on IG's tracking market, all large brokers do this to provide a continuous trading platform for their clients.

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40 minutes ago, Caseynotes said:

yes you can execute trades, as @jlz says, you aren't trading the actual index on the actual exchange but are trading on IG's tracking market, all large brokers do this to provide a continuous trading platform for their clients.

I put in an order and the price went below my order but it didn't get filled. This happened a few times over the span of an hour. Do you know why?

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5 minutes ago, jeantan said:

I put in an order and the price went below my order but it didn't get filled. This happened a few times over the span of an hour. Do you know why?

ok, which platform are you using? mt4, IG's own web based, prorealtime.

 

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Posted (edited)
11 minutes ago, Caseynotes said:

ok, which platform are you using? mt4, IG's own web based, prorealtime.

 

Ig's own web based. Now pre-market is open and my order is not going through

Screen Shot 2020-07-15 at 9.08.50 pm.png

Edited by jeantan

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12 minutes ago, jeantan said:

Ig's own web based

Screen Shot 2020-07-15 at 9.08.50 pm.png

not sure, so it was a buy limit which was below the current price which then went down below your order level but didn't trigger the entry, presuming this was after the US stocks all sessions market opened at 9am (uk).

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4 minutes ago, Caseynotes said:

not sure, so it was a buy limit which was below the current price which then went down below your order level but didn't trigger the entry, presuming this was after the US stocks all sessions market opened at 9am (uk).

Yes I made the order 9pm Melbourne time. I just resubmitted the order above the latest price and it's still not filling :( 

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6 minutes ago, jeantan said:

Yes I made the order 9pm Melbourne time. I just resubmitted the order above the latest price and it's still not filling :( 

ok, I think I would ask by email if they could look and see what was wrong with the order.

isn't netflix going down like a brick in the US pre-market, you last order was a buy limit.

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5 minutes ago, Caseynotes said:

ok, I think I would ask by email if they could look and see what was wrong with the order.

isn't netflix going down like a brick in the US pre-market, you last order was a buy limit.

I'm trying to call them but I've been on hold for 30 mins. Yes so doesn't that mean if the price goes under $525.95 then it should fill? Now it's $521, so it should definitely fill, right?

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1 minute ago, jeantan said:

I'm trying to call them but I've been on hold for 30 mins. Yes so doesn't that mean if the price goes under $525.95 then it should fill? Now it's $521, so it should definitely fill, right?

the blue +1 quantity says you are looking to buy (go long expecting price to rise) and being a limit means the order will trigger as price drops down to the level of your order, so you are expecting price to go down to your order level then reverse back up.

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image.png.c9283552964f1ccc2e1446fb9ad26700.png

I am not sure if I am pointing to the right hole, but the settlement period is T + 2 days, does that mean that you will get settled in 2 days at that price?  

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4 minutes ago, jlz said:

image.png.c9283552964f1ccc2e1446fb9ad26700.png

I am not sure if I am pointing to the right hole, but the settlement period is T + 2 days, does that mean that you will get settled in 2 days at that price?  

yeah that's right (on the Share Dealing account, also needs to go through Citibank first) but the problem here  is getting the entry order accepted in the first place.

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10 minutes ago, Caseynotes said:

the blue +1 quantity says you are looking to buy (go long expecting price to rise) and being a limit means the order will trigger as price drops down to the level of your order, so you are expecting price to go down to your order level then reverse back up.

Now I'm confused. My order should've gone through. I put an order at $524 and now it's $519. Did I put my order in wrong?

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1 minute ago, Caseynotes said:

yeah that's right (on the Share Dealing account, also needs to go through Citibank first) but the problem here  is getting the entry order accepted in the first place.

So the problem really is that no one is willing to take the other side of the trade for it to be filled. 
Looking at the size it is a bit odd , 1 coin shouldn't be a problem. Like you said , it is better to speak to them. 

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Posted (edited)
3 minutes ago, jeantan said:

Now I'm confused. My order should've gone through. I put an order at $524 and now it's $519. Did I put my order in wrong?

Are they not saying "you have a better option at 519, your order shouldn't be filled because the market price is better for you, so we don't fill your order". 

Edited by jlz
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1 minute ago, jlz said:

So the problem really is that no one is willing to take the other side of the trade for it to be filled. 
Looking at the size it is a bit odd , 1 coin shouldn't be a problem. Like you said , it is better to speak to them. 

i'm thinking this is on a cfd account rather than the share dealing account.

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1 minute ago, Caseynotes said:

i'm thinking this is on a cfd account rather than the share dealing account.

I'm on share trading account. It says so on under my name. Am I meant to put a "stop" buy order instead of a "limit" buy order?

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5 minutes ago, Caseynotes said:

i'm thinking this is on a cfd account rather than the share dealing account.

 

Screen Shot 2020-07-15 at 10.19.12 pm.png

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5 minutes ago, jeantan said:

I'm on share trading account. It says so on under my name. Am I meant to put a "stop" buy order instead of a "limit" buy order?

no that looks right, that's the share dealing (non-leveraged) account and a buy limit order to buy when price goes DOWN to your order level.

you would use the buy stop order if waiting for price to go UP to your order level.

not sure why you haven't been filled last 2 times, just lucky I guess, if you had bought at 524.95 you would be down about £700 by now.

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Just now, Caseynotes said:

no that looks right, that's the share dealing (non-leveraged) account and a buy limit order to buy when price goes DOWN to your order level.

you would use the buy stop order if waiting for price to go UP to your order level.

not sure why you haven't been filled last 2 times, just lucky I guess, if you had bought at 524.95 you would be down about £700 by now.

I just spoke to someone on the phone. I was meant to put Expiry: Day (All sessions). Not Good 'til cancelled. Order went through when I changed the expiry. Wow I would not have guessed that was the problem... I wish the description was better.

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