So ok, I’m new to this so maybe there’s something that I don’t know, but before the start of today’s trading I put a stop order to buy DAL shares at 23.20$. When the stock market opened, the price went up, exceeded the 23.20$ price, got to 23.78$, and then started dropping. My order was executed at exactly 23.78$, literally the highest price before it started dropping. What gives?
Same thing happened with another stock. The order was executed at the literal highest point before dropping although I set the order much lower.
Use the Stop Limit function in future, that way you can set a maximum price you’re willing to pay. When you use the Stop function you set a minimum price per share only. DAL opened at 23.93 so 23.78 is lower than the open but there’ll be a backlog of pending orders on the system and when the market opens they’re filled in order of placement so others might have been filled at 23.93 and then by the time yours was ready the market price had fallen.
I’ve not had TPs executed before because the price only got there for a matter of seconds or very few mins.