I put a GTC limit on a stock to sell at a certain price but It sold all my shares at the current price


A stock was hovering around $3.50. I put in a GTC order to sell at $3.12 just in case the price dipped alot. However, the GTC just sold all my shares at $3.50. Why did this happen?

Well current price was higher than yours so it was sold

So that’s how GTC works? What should I have done instead?

GTC means good till cancelled so that’s not the problem in your case I think you should’ve used stop/stop limit order

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I put a GTC limit on a stock

So a limit order means what is minimum I want to sell now for, you said 3.12, it said great it’s at or above that, have 3.50.

If you wanted to create a trigger point where it puts in a sell order for the best price then it would have needed a stop at 3.12

If you wanted to make sure it wasn’t dramatically under 3.12 then a stop limit would have set the limit after the stop have triggered. However if it jumped below 3.12 then you would be out of luck until it went back up again.