Howcome my shares are not sold although mine is cheaper?

Discussion in 'Order Execution' started by misterno, Jun 4, 2011.

  1. The other day I placed a limit sell order for 33.90 and I did not choose AON (All or nothing) so that partial sale can be done

    I saw one time that several blocks of stocks are sold at 33.90-33.91-33.92 but mine is not sold. Not even one share of mine was sold.

    What can be the reason here?
     
  2. Who is the broker?
     
  3. rmorse

    rmorse Sponsor

    If it happened during normal trading hours it sounds like your due a report at your limit. Unless there is something else missing from the puzzle.
     
  4. What do you mean by "your due a report at your limit"?

    My broker is lowrades.com
     
  5. rmorse

    rmorse Sponsor

    If I'm offering stock at 33.90, and the stock is 33.90 bid trading at higher prices, and your order was entered during the trading hours and this happened after, you should have sold your stock, if it is a listed stock, not on OTC or BB. This is because of best execution obligation.

    Did you ask them why you did not get an execution?

    http://en.wikipedia.org/wiki/Best_execution
     
  6. Unless the trade was a simulated trade or as said before a pink sheet you should ask your broker. It can be a shady broker that is stealing a couple cents from you on every trade. i never heard of that but who knows.
     
  7. Bob111

    Bob111

    welcome to my world...the world of pain..i have this problem every single day...buy or sell..whatever..there could be long list of "why"'s
    could be subpenny trades(0.000001 better than your 33.9.
    shares traded at your price,but on different exchange. those two are major possibilities. and all the board keep saying HFT is fine,50+ trading venues are great for liquidity...no problem for retail..yeah, right..meanwhile i see the forum is dying..let me guess why..cause the difference between us and "them" is bigger than ever. trading for retail guy is damn hard and getting harder every day..
    while HFT's counting nanoseconds i can't get my quotes right,cause they are keep freezing in IB's trading platform, like it 's a 1985 or something..what an 'edge' :p
     
  8. Remember the guy said 91 and 92 traded.
     
  9. After you placed your order, was the quote for best ask equal to your limit price? One time at E*Trade there was this one stock where the price of my order was never displayed, both when I bought and when I sold. It was for 200 shares and no special conditions. I placed the order inside the bid-ask spread and the bid/ask did not change. I eventually got filled when the bid/ask moved through my limit price. I wondered whether the orders were being held at E*Trade, as if they were stop-loss orders (they were simple limit orders). In your case, if your limit sell order was not being displayed, it may not have gotten filled until the best bid moved up to it.
     
  10. This happened to me too today in MCP! Super frustrating. Toward the end of the day mcp was trading 53.19 x 53.15 for about two mins, (at 3:06-3:09 to be exact) and I tried hitting 19s which didn't get taken because I'm cheap, so I tried to hit the bids on arca, edga, edgx and sdot and none got taken. It was still showing 53.19 x 53.15 and I offered 14, 13, then 12, 11, 10 and 9 and none got hit but it was still showing 53.19 x 53.15. I never got in because this was more than I was willing to risk on the trade. At this point the cursing at my poor monitors started, especially as it traded down toward 51 a few mins later :) A fellow trader explained that it might be because there was nobody willing to hit me? This didn't seem to make much sense to me. Anyone else ever have this happen / have any ideas of why?
     
    #10     Jun 9, 2011