What are the chances Iweb trade completed?

BrockStoker

Thrugelmir wrote: »

Limit order is usefull if you wish to buy on a temporary dip. I often have buy orders open for up to a month. Surprising how much share prices do move around.

It seems that Iweb buy orders only last a few hours, which is a bit of a shame. I guess I will have to be on the ball every day!

BrockStoker

capital0ne wrote: »

My immediate thought is maybe investing online isn't for you

Have been investing online for around 6 years now, with no problems. It's just a case of getting used to a new platform with different protocols.

BrockStoker

Sailtheworld wrote: »

It's a good way to invoke sod's law in my experience. If the market's going up you'll be at the back of the queue. If it's going down you'll be right at the front... and vice versa if you're trying to sell.

Thanks for the reply. Can I ask what strategy you'd suggest to get around this problem.. if there is indeed a way around?


At this point, all I can think to do is to increase the limit. In this case, I'm thinking around $295 (as bowlhead suggested) is what I should have set the limit as. Still no guarantees I guess even with the larger margin, but Iweb seem to be good in the respect that their brokers try hard to get you the best price (from what I have read), so might even be better to have said $296 or even $297.


Thinking about it more, I guess it might even be better (or just as good) to make a "no limit" order, at least where/when I want to first get into the stock.. then set limit orders to buy in any further dips, if the price comes down enough.

Thrugelmir

jamei305 wrote: »

It's also a useful method of throwing away money while you're off enjoying yourself by buying shares in companies as they collapse. Not all dips are temporary e.g. Carillion.

Meant to say earlier at least active managers had the option to sell their holdings while there was still value. Trackers funds etc simply took the diminishing value of the stock on the nose. Be interesting to see how investors holding trackers react in more volatile market conditions. Active investors having far more flexibility.

bowlhead99

BrockStoker wrote: »

At this point, all I can think to do is to increase the limit. In this case, I'm thinking around $295 (as bowlhead suggested) is what I should have set the limit as.

In my earlier post, I suggested $400. It depends whether the goal is to get the shares, or to ensure you catch them for a specific maximum price.

Annoyingly the broker for my SIPP (AJ Bell) doesn't take 'at market best' orders online so if I definitely want to buy something at market open because I'm not going to be around, and don't want to call up to pay the telephone dealing premium, I just have to set a generous limit. If your broker allows 'at best' ordering and you want the shares, might as well just use that feature, as you suggest.

Still no guarantees I guess even with the larger margin, but Iweb seem to be good in the respect that their brokers try hard to get you the best price (from what I have read), so might even be better to have said $296 or even $297.

If you're buying for the long term and would want it at 291, you would probably also think it was worth having at 300 (a mere 3% higher). Some nominal rise like that from the last price you saw, wouldn't make it uninvestible, and an order at that sort of level or higher would give you more of a chance of catching the purchase in a rising market than a tight limit like 296, which isn't even 2% more than what it was trading at.

If this was your first individual share deal, you might be thinking that you want to buy cheap and 'on the dips' etc like you are going to make super returns like a top trader. Best to realise early that this is unlikely.

Say you put an order in for a cent over the previous day's close price, or even a few dollars like your 296, 297 idea, because you definitely don't want to pay over the odds. But then the share opens with a gap down 5, 10, 20%. So you are the sucker buying at 290 while nearly everyone else that day is paying no more than 250.

Example, Beyond Meat closed yesterday at 105, some might have had orders at 100 or 90, and would really wish they had said they wouldn't pay as much as that when it opened today at 82. The point is, putting a limit order in doesn't really shield you from paying a price which might be embarrassingly high, with hindsight.

So IMHO, after you've decided you like the share, think what you would be willing to pay for it (which may be more than what people paid for it today) and then just put an order in for that price.

BrockStoker

bowlhead99 wrote: »

In my earlier post, I suggested $400. It depends whether the goal is to get the shares, or to ensure you catch them for a specific maximum price.

Annoyingly the broker for my SIPP (AJ Bell) doesn't take 'at market best' orders online so if I definitely want to buy something at market open because I'm not going to be around, and don't want to call up to pay the telephone dealing premium, I just have to set a generous limit. If your broker allows 'at best' ordering and you want the shares, might as well just use that feature, as you suggest.


If you're buying for the long term and would want it at 291, you would probably also think it was worth having at 300 (a mere 3% higher). Some nominal rise like that from the last price you saw, wouldn't make it uninvestible, and an order at that sort of level or higher would give you more of a chance of catching the purchase in a rising market than a tight limit like 296, which isn't even 2% more than what it was trading at.

If this was your first individual share deal, you might be thinking that you want to buy cheap and 'on the dips' etc like you are going to make super returns like a top trader. Best to realise early that this is unlikely.

Say you put an order in for a cent over the previous day's close price, or even a few dollars like your 296, 297 idea, because you definitely don't want to pay over the odds. But then the share opens with a gap down 5, 10, 20%. So you are the sucker buying at 290 while nearly everyone else that day is paying no more than 250.

Example, Beyond Meat closed yesterday at 105, some might have had orders at 100 or 90, and would really wish they had said they wouldn't pay as much as that when it opened today at 82. The point is, putting a limit order in doesn't really shield you from paying a price which might be embarrassingly high, with hindsight.

So IMHO, after you've decided you like the share, think what you would be willing to pay for it (which may be more than what people paid for it today) and then just put an order in for that price.

You are right on the money as always bowlhead. Thank you.

BrockStoker

Well, I'm back in to my account today, and I just bought some Virgin Galactic with a limit order of $10.80 (got them for 857.54 GBP). It's slightly annoying as I don't know how much I paid for the shares in USD, but that is not a big deal as I can see how they are performing on Iweb - and I suppose I could work it out in USD so I have a better idea where I am when monitoring stocks via sites like CNN (what I usually use), but that is a bit of a PITA.


Edit: I just bought some Illumina too, using a limit order set @ $293.50, so I'm happy now. I definitely prefer to at least try to buy in dips!