My place in the Queue when selling

[John]

Hi All.

I've been trading TEL shares recently with moderate success. I use DB as a broker which is great and was wondering if anyone can answer this for me.

I'm doing it in reasonable volume so would like to reserve my place in the queue (assuming there is such a thing) of sellers at a set price, lets say I want to sell 150000 TEL at 280, now I don't really want to leave the sell order in at that price as with all the others at that price it may suggest to new sellers that they should list below 280 so they can get ahead of the large sell orders at that price and then the price may struggle to be met.

If I put say a sell of 6000 shares at 280 (which is good as it uses the full amount of DB's $29.90 brokerage if it completes at that price), can I then up the volume of the sell order to say 150K when we are close to 280, i.e. 279, thereby maintaining my place in the queue and presenting to buyers that there are not hundreds of thousands of shares availbale untill necessary.

Appreciate any guidance, it's something I've been trying but not sure if it works or not, but I have had success placing 6000 share sell orders sprinkled throughout the price range I'm happy to exit in and then when a spike happens (frequently at present) I can exit at a small profit, but with volume ensuring a good return. I'm doing it with my own money, not on credit so no need to sell if the prices are not met.... touch wood!

Thanks for your advice and guidance.

John

[money maker]

Hi John,
The queuing system put basically is based on a first come first serve basis. Theres nothing more to it really. Your place isn't really reserved it just that your parcel of shares got there first. So if you place 6000 shares at 2.80 you may be behind another 6000 already at 2.80. lets say that you wanted to amend your order quantity upwards say to 12000, to my knowledge the first 6000 you had placed stay where they are in the que however the next 6000 will join behind those that are already on at 2.80. for example the me be 1 guy in front of you then another guy behind and then you behind him (if that makes sense).

[trackers]

Hi John,

If I understand your question correctly, then no you can't. You can't 'reserve' a place at a set price, then at the last minute amend your order to be for a parcel greater than what it was originally.

You can amend an order to be less volume, or amend it to be a different price.

This applies specifically to ASB Securities, though I'm fairly sure it applies across the board