Jump to content
  • 0

Opening Prices?


JoeSoap

Question

Hi,

Apologies if this has been answered before or if I am just not getting it!

So over the last couple days I've set specific orders before the market opens.

Example:

Yesterday I set a buy order for RACE, 10 mins before the market opened as follows BUY Price Level 16450, Stop 400 Points Away, Limit 800 points.  But once the market opened, it bought in at 17181, lucky I was able to get out at 17261.

Can someone tell me what went wrong here? This is the second time in 3 days this has happened. If I wanted to buy in at market price I would just wait until the market opened. 

This was using the spreadbetting platform.

Any advice would be greatly appreciated. 

Thanks.

17181
17261
Link to post

5 answers to this question

Recommended Posts

  • 0
7 minutes ago, JoeSoap said:

Hi,

Apologies if this has been answered before or if I am just not getting it!

So over the last couple days I've set specific orders before the market opens.

Example:

Yesterday I set a buy order for RACE, 10 mins before the market opened as follows BUY Price Level 16450, Stop 400 Points Away, Limit 800 points.  But once the market opened, it bought in at 17181, lucky I was able to get out at 17261.

Can someone tell me what went wrong here? This is the second time in 3 days this has happened. If I wanted to buy in at market price I would just wait until the market opened. 

This was using the spreadbetting platform.

Any advice would be greatly appreciated. 

Thanks.

17181
17261

Hey @JoeSoap

It's no problem. Best to have it answer specifically to your question, otherwise it may not make sense. 

We only offer two types of orders to open. One is the limit order which is buying at a more favorable level (lower than the closing price for the market). These will only open you up at the price you select or better (lower than the trigger price in this incident). If the market opens up though, this will not get triggered.

 

If you were wanting to buy at a higher price than the market closing price because you believed the market will open up then it's a stop order, which can be subject to negative slippage. You must have placed a stop order which means you can get filled at a worse price. There's no way to guarantee the open price, we will fill you at the price you select or the next available price. 

 

If you have any other questions let me know. :) 

  • Like 1
Link to post
  • 0

Thanks for the reply Charlotte,

 

So just to clear it up, if I set an order that is above the previous day's close it will kick in as a stop order? 

For a limit order I need to set my price below the previous day's close?

Thanks again. 

 

 

Link to post
  • 0

@JoeSoapIf you're buying then yes an order above the market price is a stop order. Meaning you can be opened higher than your level. 

If you're buying below the closing price this is a limit day order. You will only be opened at the price you selected or lower. However, do note if the market opens up and does not drop to the price you selected the order will not be triggered. 

 

It would be the other way round when selling. So trigger level above the market price is a stop order and a trigger level below the market price is a stop order. 

No problem, @ me in anything if you need me. 

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Answer this question...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      15,399
    • Total Posts
      73,906
    • Total Members
      62,299
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Matsar123
    Joined 15/06/21 10:09
  • Posts

    • ''Well we can confirm that in the space of eighteen weeks the number of reported adverse reactions to the Pfizer vaccine has increased to 193,768 as of the 2nd June.'' ''The Oxford (AZ) jab has fared much worse though with an astounding increase of 3,310% in the number of reported adverse reactions between the 24th January and the 2nd June, now standing at a total of 717,250. This now means the current rate of people suffering a serious adverse reaction after having one of the experimental Covid vaccines stands at 1 in every 142 people.''   Latest and very thorough data breakdown of the different vaccines adverse reactions and deaths.  SHOCKING! – U.K. Government release 19th report on Adverse Reactions to the Covid Vaccines – Daily Expose   .
    • See the Heathrow quarantine 'prison'. https://video.twimg.com/ext_tw_video/1404562494111244288/pu/vid/640x1136/tOWBlHvVN7IrpVQt.mp4?tag=12
    • datatosee.com  @dontbetyet 41m SAGE preparing us for a winter lockdowns, "and rapidly waning immunity could result in a second peak in the autumn" If all over 50's double vaccinated is the target now, then how long to give 25 million booster jabs? Oh then jab them for flu but you cant do that at the same time.     Oh, so now Fauci says he is not getting tested, no need because he doesn't have any symptoms. Yet aren't we still testing millions of asymptomatics with the inevitable high ratio of false positives and the ensuing chaos that causes?     Meanwhile, what the actual **** is going on?? Meet Dehenna Davison MP and Time Lord (or just faking the whole thing). Posted this on the 14/6/21.   
×
×
  • Create New...