Yes, value orders often go through quicker. I don’t know why, but it just seems to work on pennies.
I see that the buy price for HCMC has been as low as $0.001 recently so I’m trying to set a limit order to see if I can catch that price again. I have £1,000 in the FREE FUNDS in my INVEST account. However:
- If I set the quantity to less than 1,000, I get the message “The quantity must be equal or greater than 1,000”
- If I set the quantity between 1,000 and 500,000, I get the message “The minimum value for pending orders with HCMC is $1,000.00”.
- If I set the quantity greater than 500,001 and less than 780,000, I get the message “The maximum quantity for a single order is 500,000”.
- If I set the quantity greater than or equal to 780,000, I get the message “You can’t place a single order worth more than 95% of your free funds”.
Since 500,000 shares @ $0.001 would cost $500, it seems that the minimum value of $1,000 and the maximum quantity of 500,000 shares are mutually exclusive, making it impossible to set a limit order for HCMC shares at that price. In fact, 500,000 shares @ $0.0018 (the current price) would cost $900, so I don’t think it’s currently possible to use a limit order with this instrument at all.
@Team212, is there anything you can tweak to allow me to create a limit order?
Also, this reminds me that the “95% of your free funds” calculation is still using the current price rather than the limit order price, which continues to make no sense. I’ve been complaining about this for almost a year. Are there any plans to address it?
I understand from other posters today that the 500,000 limit has been removed, is it not the case for you?
No, I just checked and I’m still getting the message. I think there used to be a notice at the top of the screen about the maximum quantity. That is no longer present, but the limit is still enforced.
Can you send me a link to the topic please?
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Hey Supraman, are you still waiting on HCMC?
PAYtience my friend, news on the PM lawsuit is coming and this will be good. Just loaded more at 0.0012
Yeah, I’m still in. Unfortunately I FOMO’d in at an average price of $0.004205 so I’m currently about 74% down. I’ve got a long way to go before I even break even.
I’ve been meaning to buy more at the recent low prices to improve my average price but I never got round to it. You’ve motivated me to do it today!
What is your price target?
Hi. Sorry for late reply. My average is 0.0018 so not down so bad. With positive PM news and a buyback this could go above 0.01. Unfortunately the float is too huge to expect much more. Good luck.
Dear all, I tried to place a Limit Sell Order multiple times e.g. QTY 500,000 at 0.002291. Each time the order gets rejected by the system. Would you be able to advise? Thank you.
The reason for the rejection of the Limit order is price precision. The orders with a target price below 1 USD can be placed in the following format:
0.XXXX00