Good afternoon, This is my first post and I am brand new trader. I joined Trading212 just over a week ago and have so far bought shares in 5 companies using the INVEST platform to the tune of just Ā£400 so far.
I noticed that with one of the companies, every so often there is a big spike (maybe once or twice a week) so I tried to set a Sell Limit order (Take Profit?) but I was faced with the following message:
āThe entered price value is too far from the current market priceā.
So my questions are:
What is the point of this feature?
What is the calculation to work out the max sell limit you can apply?
My understanding on this (could well be wrong) is that because it is such a short spike the sell price never gets anywhere near to the buy price (the spike) as such your take take profit isnāt activated.
Thanks for the reply but thatās not what I meant sorry. The system wouldnāt even let me enter a limit price (regardless of whether it was going to spike or not) so there must be a calculation employed to work out exactly how far from current market price you are allowed to enter a limit order; Iād just like to know what it is!
Saying that, your point is still valid and does help; Iāve been looking at the last couple of months and there have been several spikes but of course, Iāve no idea what the actual sell price was at any of these times. Having a graph with a history of sell prices would be a nice feature.
bump. 2 months later, do you know more yet, @David?
I have some positions that I expect to spike a lot soon. Due to this limitation I canāt just place the limit order and forget about it.
I really donāt want to spend my whole time watching the graph.
Yes I having the exact same problem. I tried to set my sell limit order which I assume is my take profit and its keeps telling me I need to buy the stock first when I have???
I assume that you already have a stop order active, it then behaves like this. as of now you canāt have a sell active with a lower and a higher limit.
Yeah I have a stop loss active? But I would also like to put in a sell order above the current price to protect my profits if it goes up. Why canāt I do both?
Also having the same issue here. Bought and sold some shares, then it spiked and I bought again when it dipped. I wanted to sell in case it spikes again just below the old spike but it said that the entered price value is too far from the current market price, when 15 minutes before the entered price was the market price. Marketās not closing any time soon but if it were Iād be more than slightly annoyed if I had to miss sleep to profit off this.
