Homepage
PR Newswire
06-05-2012, 11:28 PM
(06-05-2012, 11:12 PM)KopiKat Wrote:(06-05-2012, 09:55 PM)Temperament Wrote: Do you mean even i put in an overnight Q @ $3.98 it may not be done because of:-
Quote:-
"during the 5pm - 5:05pm matching period, if you'd been watching the 'live' prices, you'd have seen the Buy/Sell Q holding well @ $3.98/8.
The risk is that the buy/sell Qs are dynamic, it may either go up or down (so, better not be too aggressive and set a worst case sell price you are comfortable with). If more sellers appear at a lower price, the Q can drop to say, $3.95/5 and get matched at that price (but if you'd Q'd to sell @ $3.96, then yours won't get done). However, on that day, it stayed at $3.98/8 till matching was closed and even if you'd placed a sell order $3.96, you'd still get the $3.98 price!"
Unquote:-
IF so, then overnight Q of $3.98 is over ride by after 5 pm trading matching order Q @ lower price. So overnight Q is no match for after 5 PM matching Q lower prices. Am i correct to say that? If i am correct, no wonder sometimes my overnight sell order Q is not done even my selling price match the after market price selling price.
i can understand about overnight selling Q Price matching pre-opening price
Is after 5 pm closing matching selling prices works the same way as pre- opening matching prices? If so is there any advantage of overnight Q?
Yes, my understanding of how the queue system works is PRICE gives the highest priority followed by TIME
ie. even if you'd been the first person to put in an overnight Q to sell @ $3.98, anyone can still Jump ahead of you in the pre-open or pre-close matching period by putting in a lower sell price.
My worst experience had been seeing my sell order partially done just before 5pm ie. the rest are now 1st in the sell Q and then seeing the rest not done during the matching period even though there were transactions done at the same price!
BTW, there are other kind of priority issues about overnight Q depending on your brokerage's system and whether you place it online on your own or through your broker. You'll have to check with your broker if this is important to you.
i think price over-ride time is fair only if there is risk in selling at lower price then the current price after 5 pm. It's O. K. for me because actually i am a "long time" trader. Usually if i don't get the price i want, i won't B or S. Of course if i am desperate to B/S i won't wait. Thanks any way.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.