When contingency orders do not get excuted.
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     hershy
Member
Username: hershy
Post Number: 1674
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, November 15, 2006 - 06:22 am: |  
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I kind of liked the look of this chart in the UK so thought I'd have a little flutter, nothing huge, just 50 shares via CFD.
I shorted it at £156, S/L £160 and £ 132 as target.
My limit order was not executed and this is what happened :
Trade closed at £ 100.
A dream trade when shorting, how often do these come along ?
Brokerage cost me £ 20 so I made a grand profit of £ 8.
Wouldn't that rot your socks !!!!!
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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peter1
Member
Username: peter1
Post Number: 132
Registered: 12-2005Rating: N/A
Votes: 0
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| | Monday, November 20, 2006 - 10:21 pm: |
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Hershy: Can you clarify the financials for me please.
If brokerage is 20 pounds why would have started the trade in the first place? Aren't the LSE stock price in pence? Your trade profit = 50 x 60p = 3000p. Is this 30pounds?
Limit orders can only be done at the best price. It seems the open was at 100p so that should be your buy price. Great slippage in your favour.
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hershy
Member
Username: hershy
Post Number: 1689
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Tuesday, November 21, 2006 - 05:53 pm: |
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Peter, you mate, are on the ball.
That was the funny thing, I thought the prices were in pounds, not pence, hence the 50 share parcel.
Like I said upstairs, a net profit of 8 quid but the experience - priceless !
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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