Why only offered a day limit order on some shares?

[Guest Jamesh123]

Hi there.

I’m new to trading. And I’m still getting to grips with the fact that there’s a lack of stop losses and trailing stops on the IG UK share platform.

I therefore tend to get around this issue by placing a “sell order” for my total held shares at a point which I’d deem to cut my losses. I also set an alarm for when a share price hits a desired level I’d like to take profits.

However today I bought shares in Angling direct plc (AIM share) but was only offered a day limit order type. I ended up losing out when ideally I would have liked to hold these shares for the long run.

Could anyone shed some light on why I could only place this type of order and not a GTC order type for these shares? Is it to do with the AIM share type?

Many thanks in advance!

James

Edited December 18, 2018 by Jamesh123

[Guest Jamesh123]

Thankyou for the reply.

Yes this was completely long term. And ideally I would still be holding the shares. However the day limit was the end of me!

Like I said I'm pretty new to this and haven't dived into the world of spread betting/FX and shorter term trades yet.

Turned 30 this year and so I'm looking at building up varied investments over the next 10 years. (Any advice welcomed) 

Ill have to read up abit more on the AIM market as I know it is a different beast all together compared to the FTSE!

Warm regards. 

James

 

 

 

[Guest Jamesh123]

Thanks again!

I have started building a portfolio of funds in a Stocks and Shares ISA every month (which I have recently upped the monthly amount). And so hopefully over time that will grow. 

I also have a few other non stock investments which helps keep things diverse, as I prefer not to keep all my eggs in one basket so to speak.

Ill keep pressing on with educating myself in the markets. And hopefully it will lead to more growth! 

J