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Good point!
jeremyow ( Date: 28-Aug-2009 10:32) Posted:
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Thanks! Will take note.
For buying, don't queue up your buying price. Just buy directly the exact number of lots you want from the quoted selling price (by sellers) and confirm your buy contract instantly.
For selling, don't queue up your selling price. Just sell directly the exact number of lots you want from the quoted buying price (by buyers) and confirm your sell contract instantly.
E.g. Buy vol- 50 Buy - $0.550 Sell - $0.555 Sell vol - 30
If you want to buy and don't want to risk getting orders partially done, buy at $0.555 price say 20 lots to confirm your order instantly. If you want to sell, sell at $0.550 say 20 lots to confirm your order instantly. Of course, you will end up paying more by $100 either way (since the trade off by not queuing is a price difference of $0.005 for 20 lots) instead of transaction fee around $28 for online brokerage trading. However, you can confirm your orders straight away with peace of mind.
For orders partially done, the risk is that you may have to order again which the trading price may change at later time to one's disadvantage or advantage, so also taking some risk by not settling your orders instantly.
What is to hit ??
the solution to this
to hit instead of quene your order.
Can someone advise why order that's partially done cannot be carried forward to the next day and the broker can't just charge us 1 fee instead of us having to place another order the next day and pay for 2 separate fees. Just check with the broker, they told me this is done by SGX and none of their concern. When I told them for future pls do not do partial order and she told me she can't help. Can you imagine an order of 20 lots and only 3 lots were executed and worth only $400++ and I hv to pay $25++ for comm. That's a good way to make money by simply fulfilling only partial order all the times.