Trading 212 ; Trading!

Altior

https://forums.moneysavingexpert.com/discussion/comment/81910947#Comment_81910947

Not afaik. I've had bids partially filled doing it the same way as I am now on 212. Though at one point I was trading 10 or so ITs, so I can't recall if this one has ever been partially matched. I have had orders that showed the matched history below my limit order price, which is why I started digging into it more deeply. It is quite frustrating.

Altior

I made a significant schoolboy error here, turns out FT do limit orders too. Doh!

The recent market volatility has seen a narrowing of the premium for NCYF, so I have been intermittently adding to my holding. It's less clear cut on the FT app, but after seeing it, it seems pretty obvious now. When you put an order in it initially defaults to an instant order, but there is a drop down at the top right of the screen that allows you to toggle it to a limit order.

The upshot is that FT's limit order facility is vastly superior to 212's, at least for this holding. I have been able to submit limit orders using the price showing in google's chart, and it nearly always executes within a few seconds. It is marginal, as I have covered, but becomes material over multiple trades. Obviously you want to get as close to the actively traded price as possible.

Reckless_Saving

Looking at NCYF tradebook there can be up to 5 mins between trades and the trades are low volume, which will explain why the free platforms struggle to execute limit orders. Be careful if you're building up a large position, you may struggle to find a buyer when you come to want to sell.

Altior

It's been another fun day with this holding!

I suppose what I am comparing here is the difference between two of the 'free to trade' platforms. FT is brilliant, I've been busy firing multiple trades in today 🙂

This is very much a buy and hold trade, I'm not planning to offload for a long time. Predominately in my SIPP.

The trust publishes the nav almost daily, both including and excluding the revenue since the last XD.

The low volume means the traded price can be quite volatile from minute to minute.

Altior

The plot thickens…

This is on FT now. I've been browsing the trust's own website, and they record all of the trades during the day.

The FT image is all limit prices I submitted yesterday, the orders should stay in place for 60 days. So were obviously live from open today.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81945253#Comment_81945253

How has the plot thickend? Your limit order didn't trip when you think it should have been?

Altior

https://forums.moneysavingexpert.com/discussion/comment/81945340#Comment_81945340

Thickened? The conspiracy against me getting my requested market trades executed ha!

I'm not a trading expert, but I am a betfair expert. Betfair was modelled on share trading markets. On betfair it's impossible to get a market match below your bid, and your bid remain unmatched. I'm no expert at what happens at the share market trading coalface, but I do possess a chunk of logic, and curiosity. I'm hoping someone who is an expert at the share market trading coalface can help explain how a share can get a market trade executed below a bid price, and remain untouched. To me, it's not logical. Anything that appears illogical to me is rather annoying!

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81945431#Comment_81945431

As I mentioned upthread, brokers monitor the LSE's indicated bid and offer prices. If they don't match the limit order you set then they're not tripped. The problem with NCYF is that it has a wide indicated bid/offer spread - as I type it's 1.22% and when I looked earlier it was 1.5%. The trade you highlighted looks like a sale amongst some purchases so you probably wouldn't have been able to buy at that price anyway.

Have you tried IG Invest? If I were you I'd get 15 second quotes from it now and again and execute your orders manually.

Altior

I would very much interpret these as the actual traded prices so far this morning. So not the spread, the actual price traded. Unfortunately I can't go back into previous days on there, they only list the current day's individual trades. But I will check the next time I have an offer executed, I expect it to list the actual transaction and the price I bought it at.

fwiw I understand the margin spread. That's like betfair too, and less liquidity means a wider spread. However, when there is a match on betfair (execution in trading lingo) that is the price where the buyer and seller have met (regardless of the spread). Yesterday a buyer and seller have seemingly met at a price below one that I was offering. So theoretically the seller in that instance hasn't got the best price on offer on the market. Unless it's some kind of ghost trade ie there was no actual transfer of stock.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81945524#Comment_81945524

But you don't have direct market access with Freetrade. Its just monitoring the LSE indicated prices: those participants don't know that your offer exists.

What you're probably seeing in these data is someone selling their shares to a market maker for 48.6p and then that market maker selling those shares 12 minutes later to someone else for 49p or 49.4p.

Jesse Livermore discovered that there's a big difference between executing trades with a bucket shop (Betfair) and actually executing trades on the stockmarket.