Sell limit order executed at wrong price

Hi I set up a limit sell before the market opened, to sell at 4 , the market opens and this just executed even though the stock was trading at under a dollar. It sold all my shares with a heavy loss as my average ox was 2.25. Same for another stock I set a sell limit order for And this is a heavy loss T212. What happens in this case?

I assume you set a sell stop by mistake.

If you go to history on the stock and look at the last transaction does it say limit?

thats not a limit order

So set this to sell at $4 end of day, but get executed at £1.00

what you did is set a stop loss instead so because the current share price is below your stop point it turned instantly into a market sell.

What you needed was a sell limit order instead to set the min you want per share.

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You used the next tab along which was setting a stop loss.

You needed the tab in that screengrab

Ah ok, thanks very much, Painful lesson! 5k gone

If you expect it to increase 300% from $1, you could reopen your position?

It was a pump and dump @Dougal1984

Nah, I don’t , not in the current climate:)

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No wasnt, held it for about 4 months and was going for long. Certainly $4 was not expected in the next 5 months so reason I set it that high.

That was my assumption that you bought in feb sorry.

Daily RSI went to 90 :grimacing:

Looks like earnings in May that might have pumped it again but looks like it’s bleeding back.

With 1.11B shares outstanding the $4 is a big ask imo but you never know.

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You are right, earnings in Mar pumped it up slightly. Certainly, $4 was a big ask. Just wanted to set this high and not bother looking at my T212 account. But was never meant to be.:slight_smile:

If it makes you feel any better I’ve done the same when I didn’t have my morning coffee.

I’ve seen about fifty threads that have done the same.

I’ve asked T212 to put form validation on more times than I can remember.

It makes no sense being able to submit a higher value in the stop loss.

@David @Rumen @Y.M @Wit @anyone please fix this interface issue

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Thanks, certainly a validation prompt would be helpful. Hopefully this is incorporated in their next upgrade.

Really good idea. The interface really isn’t broken through, but a reminder that your instruction would result in instant execution when the market opens is a good idea for non market orders. As you say to act as a prompt to limit user error.

The interface isn’t broken in that it does what it says on the tin.

This is a UI/UX thing, simply needs validation adding so the message appears to follow the instructions and enter a price below the current bid on the stop.

There’s no deliberate reason so 100% of those are new traders making mistakes or butterfingers. A lot of wasted cash.

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We have undertaken several projects aiming to optimise the performance of the platform. As far as the orders are concerned, we have strived to keep the UI in tune with the industry standard. Although I understand the point you are making, introducing changes in this respect is not among our highest priorities at the moment.

Additionally, there is a notice which appears in the detailed trade box which implies the logic of the order:

image

image

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@Rumen this has been mentioned for well over a year.

Please give me the task and I’ll happily implement for free.

We are just needing that when the review order button is clicked it just does a simple check

if (enteredPrice > currentBid) {

    return "Please enter a sell stop value below the current sell price";
}

That small change would be saving your customers hundreds of thousands collectively. So in my book for an hour of dev time to implement and test it’s worth it.

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