Hi, I am new to this (so apologies if this is the wrong section but I did a quick search and couldn't find anything). I took a short sale position on NYT yesterday as I saw it overextended. As I am new to trading I didn't want to risk too much so I took a limit short at 20.20 with a stop loss at 20.35 and take profit at 19.90. As you can see my order was triggered at 20.20 but then to my surprise my broker (Charles Schwab) then took a buy order and closed my position at 20.2793 (well below my stop loss of 20.35). Looking at the chart NYT never went above 20.30 yesterday and in fact hit my profit target of 19.90 within the hour. Am I missing something completely obvious as to why this happened? Thank you in advance (and moderator if I have posted in wrong section I apologise)
The spread is 3.35. If your short order triggered at 20.20, the other side of the spread would have been 23.55. How did their platform allow you to set a stop less than this, within the spread? Am I missing something simple?
BTW, this is an incredibly wide (expensive) spread - 16%! I can spreadbet this share (I'm in the UK) at 19.8318-19.9144, spread of 0.08, 0.4%. What the heck's going on?
Sorry the screenshot is to represent what I input into the system (ignore the bid/ask) etc. What I’ve been led to believe is the stop loss will trigger even if a “quote” is present for the amount - the ticker does not actually have to trade at that price. Seems unfair but guess that’s the way it is?
Was executed relatively immediately The issue I have is my stop loss order was triggered below my target (I have been informed that’s because there was a quote present for that amount). This sounds wrong to me but that’s what I’ve been informed