Jump to content
  • 0

AIM share limit sell order


Baxter77

Question

Hi,

I bought a number of shares in an AIM listed company today. Once the order was placed I set a Sell 'Limit-Day Order' (as this was the only order available during trading hours) to sell at a significantly lower value that I bought the shares at to protect myself from any major falls in prices during the day. The lower value I set the order at was never reached but I found that my shares had sold at a higher price than I bought them for during the day. This was annoying as the shares had risen by quite a margin and look as though they will carry on in that direction but I will now have to buy them again at a higher price and spent an extra16 pounds in the transactions. I rang IG who told me this was normal for the AIM companies if a Limit-Day order is set but I didn't understand the reasoning. Why were they sold at a higher price when no order was placed to sell them at that price? Please help so I don't make the same mistake again. Thanks.

 

Link to comment

1 answer to this question

Recommended Posts

  • 0
13 hours ago, Baxter77 said:

Hi,

I bought a number of shares in an AIM listed company today. Once the order was placed I set a Sell 'Limit-Day Order' (as this was the only order available during trading hours) to sell at a significantly lower value that I bought the shares at to protect myself from any major falls in prices during the day. The lower value I set the order at was never reached but I found that my shares had sold at a higher price than I bought them for during the day. This was annoying as the shares had risen by quite a margin and look as though they will carry on in that direction but I will now have to buy them again at a higher price and spent an extra16 pounds in the transactions. I rang IG who told me this was normal for the AIM companies if a Limit-Day order is set but I didn't understand the reasoning. Why were they sold at a higher price when no order was placed to sell them at that price? Please help so I don't make the same mistake again. Thanks.

 

Hey @Baxter77 - Thanks for your feedback message. 

Out of market hours we will only allow you to place a limit order because putting a stop order on means you may get closed at a much worse price if the market open is very volatile.

By placing a limit order you instructed us to sell at the price you selected or better (when selling a better price is trigger price or higher). When the market opened we would have found someone willing to buy your shares at the price you selected or better. They would have matched on the order book and the trade was executed. 

If you want something to reflect a stop, it has to be a stop order. A limit order reflects a limit you wish to sell you shares at. 

Let me know if you need some more clarification but I hope this helps. 

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,002
    • Total Posts
      87,985
    • Total Members
      68,994
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    benboy
    Joined 27/09/22 00:23
  • Posts

    • Stock Market SP 500, NASDAQ 100 NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies. US Markets News Today:Fed officials stare down market volatility, say inflation remains paramount focus Elliott Wave Market Summary: The current trend down into Wave (1) is not completed, that said the US Indices are in a series of Elliott Wave fours, which tend to move sideways. Elliott Wave count: Wave iii) of 3 of (1) of C) Day / Trend Trading Strategies: Short Rallies and new lows...Keep a wide stop away from the  Wave fours iv) and 4 as the market has a high probability of moving lower over time Video Chapters 00:00 S&P500  11:47 NASDAQ 100 (NDX) 13:17 Russell 2000 (RUT)  18:19 Dow Jones Industrial Average 20:19 End. Thanks for supporting! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • We can see that for every new low it is a small upturn (4-6% before a new low is about to happen, together with the inverted hammer that was formed today im going long, +5% and if the price start to go to an uptrend there after its a sell signal that follows the factors mentioned abow to the "new" support line 1703 points. 
×
×
  • Create New...