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faridrahbar@sbcgloba... | Selling stocks at a market price? |
i just sold my shares of nintendo, the last trade price was at 58, and mine sold at 56.80, i was hoping to sell it at 58, did i do smething wrong?or did i forget a step? |
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PepsiLime
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The only thing you probably did wrong was sell the stock at the "market price", which meant that your order would sell at whatever the stock price was for the moment that your shares were available for sale. If you had sold the shares with a specific price, say 58, then your shares would have been sold at that particular price, but you would have had to wait until the stock was at that price specifically. |
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jbsid03
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you should have put in a limit order at 58 instead of selling at market price. of course if the price went down your sale would not have gone through |
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Todd
 |
I have one question. By the 'last trade price,' do you mean the previous day's close? I checked out NTDOY and noticed that it closed at 58 on Thursday. I don't know what the opening price was on Friday, but if you put in a market order AFTER the close on Thursday, you would have gotten NOT 58, but whatever the stock opened at, or something close to that.
If this is the case, then the stock 'gapped' at the open on Friday. It's fairly common, particularly on OTC stocks, that there is a significant gap between the closing price one day and the opening price the next. As for me, I never place an order outside of market hours. You can get stung by gaps and whipsaws at the open too easily.
If that's not what happened, then you were just unlucky. The stock was just taking a nosedive the instant you put your order in. Remember, if many sell orders come in simultaneously the price will spike down quickly, and orders are executed in the order they are received. NTDOY has fairly good liquidity for an OTC stock, so the spread probably isn't what got you. It was just a big sudden move.
Now, if you were day trading the stock and put the order in just when you noticed the stock was about to tank, all I can say is you've got move quicker than that, or try to anticipate the move before it starts. If a position is showing you weakness and you have that queasy feeling the bottom is going to drop out, then get out before you get burned. |
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muncie birder
 |
Pink sheet stocks are extremely volitile. And there is a large bid/ask spread at times. The last trade does not really signify too much. What you need is the bid price to determine you are likely to trade at. Current bid is 56.85. You got a reasonably good price. |
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stephenweinstein
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The price dropped. The $58 trade was before yours. It was $58 when the earlier trade happened, but $56.80 for the later trade (yours). |
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pinkyismygirlfriendniluvhur
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you can say what "strike price" you would sell at
they call it a "limit" order
you could have placed a limit order, for 58 and a half
then if it don't sell , you don't have to pay
if it does then you would get that amount, minus $7 for the trade
the only danger is if it falls lower and lower , then you were right to sell at 58
mostly stocks fluctuate, so doing that limit thing is mostly a good idea, so you sell em next week instead and have to eat beans or McDs for a week, to get the two points or whatever |
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zyberianwarrior
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while you are dealing with penny garbage stocks you probably missed a step. the best way to sell an order is sell STOP not sell limit. Sell stop will trigger at that prtice limit is whatever. In addition there extra fees for selling pinky garbage stocks as well. But overall be happy you sold it. |
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Jesus & Kristle
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Did you sell it as a market or a limit order? |
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