PDA

View Full Version : Does putting a limit buy on an odd number of shares work against you?



SockPuppet
03-07-2015, 10:25 AM
Hi. I recently set up an account with Etrade and wired some money over from NZ for the sole purpose of investing in NASDAQ companies. I should probably preclude my question with the fact that the minimum Global order on Etrade is $2000AUD, excluding fees.

So I moved money over to my account. After conversion and transfer fees, I had around $3300 in my Etrade account. I used this to place an buy order for AAPL with a limit of $126.50. Due to the exchange rate to USD, and the fact that I wouldn't be able to put more money into another global order without another transfer, I decided to use as close as possible to the entire $3300. Which gave me 19 shares and a little change.

The order was posted and confirmed last night. And overnight (NZ time) I have watched the price go as low as $125.99. But still my order is open.

Did I mess up going with an odd number like 19? Should I have gone with something like 15 or 10? I've been reading threads here and it sounds like it shouldn't be a problem and highly automated anyway. But it's my first rodeo so wanted to check.

stoploss
03-07-2015, 11:49 AM
Hi. I recently set up an account with Etrade and wired some money over from NZ for the sole purpose of investing in NASDAQ companies. I should probably preclude my question with the fact that the minimum Global order on Etrade is $2000AUD, excluding fees.

So I moved money over to my account. After conversion and transfer fees, I had around $3300 in my Etrade account. I used this to place an buy order for AAPL with a limit of $126.50. Due to the exchange rate to USD, and the fact that I wouldn't be able to put more money into another global order without another transfer, I decided to use as close as possible to the entire $3300. Which gave me 19 shares and a little change.

The order was posted and confirmed last night. And overnight (NZ time) I have watched the price go as low as $125.99. But still my order is open.

Did I mess up going with an odd number like 19? Should I have gone with something like 15 or 10? I've been reading threads here and it sounds like it shouldn't be a problem and highly automated anyway. But it's my first rodeo so wanted to check.

No idea how Etrade works and what the min parcel is for AAPL.
How about sending them an email and ask why your order was not dealt bearing in mind the low on the day was a cent under your bid , see what they say ?

SockPuppet
03-07-2015, 12:07 PM
Yeah. Order term is about to close in the next 30mins so I will email them if nothing happens with it.

The low on the day was actually $0.51 under my bid. Then it went up again but still closed $0.06 under my bid. Hence the confusion. Plenty of room with my bid pretty much all day. So I'm doing something else wrong.