I saw that due to the data vendor it’s not possible to show more than two decimals (alert price, buy/sell price) but from time to time I get a price like 0.1234 shown when I own a stock with a price < 1$. I thought that was kind of weird (on PC.)
- Anyways, my suggestion is rather drastic, but it would be to prohibit the buying and selling of stocks with a share price < 1$ (at least with a limit buy/sell.)
I suggest this, because you can only set a price like 0.21$ to buy or sell, so if you own a stock with a resistance at 0.225, you could either sell at 0.22$ and lose out on some profit or take the risk and try to sell at 0.23$.
It’s something quite specific, but if we cannot specify until 4 decimals in stocks < 1$, I think it would help people like me. Stupid people that try their hand at day trading and get frustrated at times.
- My second suggestion is to not round up or down for the alerts.
Though I guess if Trading 212 only gets data up to two decimals (e.g. 0.12), there is nothing that can be done on this side, other than changing data vendors. If that’s the case, you can skip this.
In a sense this is a continuation of the above. At prices below 1$ e.g. 0.228$ would be 0.23$, 0.552$ would be 0.55$. I don’t want to be notified when the price is almost 0.23$, I want to be notified the moment it touches or goes above 0.23$. If I double check the price in something like tradeviewer and see the price is 0.228$ and it’s jumping around but never going to 0.23$, it gets a bit frustrating.
In short, only if the price goes to 0.23$ or above would the 0.23$ alert trigger. If you have an alert at 0.21$, it would only trigger if it gets 0.21$ or below.
- Third it would be to be able to have two different kinds of sell. One stop loss and one limit sell.
One to protect you, if you didn’t plan well enough or the market is simply in a big downturn and one to set a target.
This is probably not necessary if you invest, but if you day trader or swing trade, it becomes quite helpful to set those two sell signals and have some peace of mind while you eat, take a walk or simply do something other than watch the stock market.
The moment one signal triggers, the other one would be cancelled as you don’t own the stocks anymore. Maybe put a restriction that your stop loss and stop limit can’t be closer than 0.1$, so that it can’t be abused (thought that maybe if you had two signals at 30.00, it would fill twice and give you double the money, even though you one had half of the shares being sold at 30.00. Same if the difference is too small, I thought then both orders might fill as well, if the price changes too quickly.)
- Fourth, I would like to suggest a trailing stop loss.
This would be helpful even for normal investors, that are investing in the short term (6 months - 2 years or so.) This would let you keep some of your profits, in case something unexpectable happens in the company you own shares off. Something like a trailing stop loss of 5% or 10$, so that if the price falls below 95% of the highest value of the share (starting when you bought the shares), then you would sell. Or if the price dipped 10$, so either a set money amount or percentage.
- Fifth and last: Get rid of the “price value is too close to the current market price” restriction.
Maybe I just don’t understand it, but I see nothing wrong with placing a limit order for 12.34$, when the price is currently 12.35$ or using the same price for that matter. The filling of the order is done in a stock exchange, right? So in the, Trading 212 would just send a request to buy shares at 12.34$. If you put a limit buy at 12.35$ (current price), it would simply fill in as soon as someone was selling their shares at that price.
Sorry if some of these are duplicates and also sorry if there are grammar mistakes and stuff. If something was explained weirdly, just ask and maybe I can explain what I mean in another way