Order purged?

[Garpal Gumnut]

Can anyone shed some light on the question below please?
I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?

If you place a sell order "at market" and the stock is trading at volumes above the number of shares you are offering they should sell.

If you place a sell order at a specific sell price it may never sell as the market buying and selling may move down from your price.

Not all sales will come to fruition as reflected in the order nor buy sell lists, as people will just pop in and buy or sell at the sell or buy price or at market.

Orders to sell may be purged if they are too far away from the market price as it clogs up the system otherwise.

It is not quite as simple as that but ask away. I do hope I did not get it a*se about.

In summary if I really want to buy or sell a share I place an at market order.

gg

 

[Country Lad]

In summary if I really want to buy or sell a share I place an at market order.

Good advice, if selling at a set price you can chase the price down a $1 constantly looking for 1 cent above market.

Conversely, the guy below is waiting for AFT to come back to $2 before he will buy.

 

[divs4ever]

AFT . the solar company ??

is it still a functional company ( listed or unlisted )

i would like to know i still have some shares in it ( just another 'disappearing stock on the ASX )

if they are coming back at $4 that is a 4000 into one consolidation .. LOL

 

[divs4ever]

Can anyone shed some light on the question below please?
I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?

since you have specified a selling price you will have to wait for a buyer wanting that many shares ( or more ) at THAT price ( or more )

PS sometimes it can be a lengthy wait ( days , weeks , months the order will probably be purged before it is ignored for a year )

a buyer wanting LESS shares at the desired price will only part-fill the order ( until another buy order comes along , or it is purged )

BTW welcome to ASF

 

[Kids inheritance]

If you place a sell order "at market" and the stock is trading at volumes above the number of shares you are offering they should sell.

If you place a sell order at a specific sell price it may never sell as the market buying and selling may move down from your price.

Not all sales will come to fruition as reflected in the order nor buy sell lists, as people will just pop in and buy or sell at the sell or buy price or at market.

Orders to sell may be purged if they are too far away from the market price as it clogs up the system otherwise.

It is not quite as simple as that but ask away. I do hope I did not get it a*se about.

In summary if I really want to buy or sell a share I place an at market order.

gg

Thank you !
I thought that if there are a significant amount of outstanding shares available that these orders would get filled...? How do we make money off a fluctuating share price? For instance one share i own goes up by 20% once or twice a week but because i cant get my order filled i miss out on making 20% every week....? Is this the brokers fault, should i move broker...?

 

[Garpal Gumnut]

Thank you !
I thought that if there are a significant amount of outstanding shares available that these orders would get filled...? How do we make money off a fluctuating share price? For instance one share i own goes up by 20% once or twice a week but because i cant get my order filled i miss out on making 20% every week....? Is this the brokers fault, should i move broker...?

It may have more to do with the stock than the broker.

From your description it may be selling within portfolios or between insiders in the company and you will have no control over that.

If the sales are cross trade XT or some variation e.g CXXT the price is being fixed by bigger than you.

I'd consider lowering your stress by considering getting out of the stock and looking for a prospect more predictably traded.

gg

 

[divs4ever]

sadly you have to wait in line at the price you select

at even being No. 1 in the line doesn't always mean the whole order will be filled that day

BUT Commsec prefers to sell between customers and badges the trade NXXT , i don't know if any other broker does that between clients orders ( but since it apparently isn't illegal , maybe they do )

now the trap is ... do you wait patiently ( and miss out on other opportunities ) or do you chase the price if it gets close ( i strongly resist the urge to do this ), but it is your trading strategy , do the best you can , for you

now depending on how much you love paperwork ( and ASX charges $55 to transfer each share holding to a different broker .. that is say all your BHP for the $55 , all your CBA for $55 etc etc )

another option is to open an account with a different broker and operate them in parallel ( i have two platforms and each has their good points and bad ) but the paperwork is a bit more complex , but it is an acceptable compromise for me

 

[Value Collector]

Can anyone shed some light on the question below please?
I place a sell order with my platform and it seems to never get filled, when i question it with the platform they refer to the market depth, what does that mean...? When i want to sell at the right time (to make some money) but cant i lose money... can you help?

Market depth is basically how many other participants are in the market at certain prices.

for example if there is a guy with an order in to buy 1000 shares at $10 per share, it will show up as the current bid is $10, but if you have 10,000 shares to sell there is not enough “depth” for your trade, because the guy only wants to buy 1000.

the next order under that guy might be 500 shares at $9.99, then 1000 shares at $9.95 etc.

so if you want to sell your full 10,000 shares at $10 you can’t do it, you would have to accept lower prices so you can sell to the people lower down the bid line.

 

[peter2]

Since no details (stock code, price) has been provided. We're only guessing.
Another possibility is that the poster is trying to sell a stock less than 0.01. The problem here is the order is not getting to the front of the queue to trigger. We often get "newbies" trying to make the spread on a 0.005 - 0.006 stock (20%) without realising that their order is at the back of the queue and may take a long time to trigger.

 

[frugal.rock]

Perhaps a picture paints a thousand words?
Orders are queued in "first in best dressed" fashion.
So in the example below, if you tried to sell (order placed) at $0.006, you would have to wait until the 33 orders totaling a volume of 40.29 million shares were sold, before your order was reached.
(I won't confuse the issue by discussing centre point trades, or dark markets or lit markets, however, if one is going to trade the micro micro stonks, they should be all over this area of understanding... ?)