I think the problem is you set the stop limit wrong.
You set it to trigger a limit order to sell (Vendi?) when the price dropped below 15.20, but your limit is 18.00 (the minimum you want for each share) is above 15.20 so would never work (unless the price went back up to 18.00 or above).
Phil’s right. You’ve set a stop-limit order, but only the stop variable has been met. Your limit value is the lowest price at which you’re prepared to sell.
I wanted to sell, not to buy. I basically wanted to open a short position (in the invest account I can just sell my shares, and this is what I wanted do).
In short positions limit orders have to set above the price while stop orders bellow the price.
It is an easy concept: if you are long your stop loss will be below the price not above, because it is a sell stop to go short.
Here you will find how stop and limit orders work —> Investopedia.
I was long at 16.10$ and I setted those order to sell: take profit (sell limit) at 18$ and stop loss (sell stop) at 15.20$.
Now the only problem can be just the low volume, but is it really possible that in a practice account the app can’t close the position for this?
The last time it happened with Twitter…a mega cap stock.
To sell my shares I have to open a short position. To close a long position you have to open a short position, to close a short position you have to open a long position (you can do the last one just on CFD account).
I didn’t open a short position, I said to the broker, using a OCO order, to do it for me.
OCO means “order cancel order”, when one of the two orders get trigger the other one get deleted.
I setted a sell limit al 18$ (take profit) and a sell stop (stop loss) to do this.
I think you’re misunderstanding the invest account, you can only open long positions. (You are always hoping the price will go up)
When you create a sell stop limit in the invest account, you are saying trigger at the stop amount and you limit the minimum you want to accept for it. If you have the limit above the stop, then it would only ever get you that amount if it went back up at or above the limit value.
The sell stop (market order) and sell stop limit (limit order) is there so that you protect from losing out.
If you want to bet against it and think the price will go down then use CFD to create the short position.
Just to explain again if you are thinking the price is going to drop then use CFD to bet against it. You could say I think it’s going from 16 to 15 next.
If you are thinking it’ll go up you could use the invest account. However if you are creating a stop at 15.20 then the limit will never execute (unless it went back over 18.00 again)
The one that didn’t work was the sell stop not the stop limit. (I think you meant sell limit, stop limit does not exists).
I setted a sell stop to sell my shares (stop loss)
The price fell bellow it
The sell stop order didn’t execute
This is the problem.
I know I can’t sell on invest account. What I can sell is what I own. I own 7 shares and I wanted sell 7 shares at 15.20$.
Not 8, 10, 20, 100 shares, just the 7 shares that I own and I setted a sell stop order to do this.
So a stop would have created a market order at 15.20 which would get you the best price at the time (it doesn’t guarantee it will be above any specific value that the stop limit helps with)
I don’t want to short the stock, I want to close my position. I was long, I have to sell my stocks to close the position. It is a sell order, it means going short
As explained a few times a stop just creates a market order when it gets to that trigger point.
It’s like if you were sitting looking at that point in time and pressed the sell market order button yourself. It’s just automatic so you don’t have to spend all day keeping tabs on what it’s doing and have a panic next time you check and see it’s dropped way further than what you ever wanted.
There is no opening short position or anything you are getting confused.
Yes I konw, in the first reply I wrote this "Now the only problem can be just the low volume, but is it really possible that in a practice account the app can’t close the position for this? The last time it happened with Twitter…a mega cap stock."