Discussion
Woke up at 4.20am to learn of the swing to Leave and then the Welsh result came in.
So I called it wrong. Oh well!
There's something I'm not clear on. Currently the shares I bought last week are sitting at their closing prices from yeterday. If I 'sell' now, will they actually be sold at those prices or will they wait in a queue for an hour by which time it will be too late? (I have the choice of Market, Limit or Stop loss).
So I called it wrong. Oh well!
There's something I'm not clear on. Currently the shares I bought last week are sitting at their closing prices from yeterday. If I 'sell' now, will they actually be sold at those prices or will they wait in a queue for an hour by which time it will be too late? (I have the choice of Market, Limit or Stop loss).
You aren't the only one, FTSE is likely to be a bloodbath when it opens, esp the banking sector.
No expert but in answer to your question I think they should sell near instantly, what you won't know is the opening price, they might open 5% or more than they closed at.
Thats my assumption anyway... Would also like to know more though if anyone can advise before open!
No expert but in answer to your question I think they should sell near instantly, what you won't know is the opening price, they might open 5% or more than they closed at.
Thats my assumption anyway... Would also like to know more though if anyone can advise before open!
Thanks, that seem to clarify it. Nobody's going to bid to buy them at anything like the closing price.
I might try a limit of 5% below current value and see what happens. I wonder if the expert managers managing my other stuff, pension etc will exhibit expertness?
Thanks for the explanation
PS Is the timing of the order relevant; ie is there a first come, first served approach or do the buyers just pick the best ones at 8am?
I might try a limit of 5% below current value and see what happens. I wonder if the expert managers managing my other stuff, pension etc will exhibit expertness?
Thanks for the explanation
PS Is the timing of the order relevant; ie is there a first come, first served approach or do the buyers just pick the best ones at 8am?
coyft said:
This gives a much better explanation. http://www.investopedia.com/terms/s/stop-limitorde...
coyft said:
This gives a much better explanation. http://www.investopedia.com/terms/s/stop-limitorde...
Good luck! I think you'll be lucky if there is only a 5% drop!
At what point would they suspend the market do you think?Good luck! I think you'll be lucky if there is only a 5% drop!
coyft said:
Say your price is £50, the market opens at £52 you will sell for £52.
If the market opens below your stop, say £49 and the next price available is £49 they will sell for £49.
So much for a 'stop' then! Ah well I punted with one; I think Harry is right and I may as well go back to bed. I'd love to think that all the various fund managers who are responsible for my financial future saw it coming and had contingency plans but I'll bet £10 to a bucket of crap they didn't.If the market opens below your stop, say £49 and the next price available is £49 they will sell for £49.
But as someone said, the economy will go on, and all that these 'market prices' really reflect is very clever high-up people and institutions making money. Many billions will be made later today, but not by Joe Investor.
Why would you want to sell today?
The FTSE will be in the 5s and the spreads horrific.
I've no idea where the pound will settle, but all those multi nations will be declaring some super earnings later. (Currency gains)
A strategy for the brave might be to unload some of your US holdings which should show quite a decent profit in Sterling and re invest in UK.
The FTSE will be in the 5s and the spreads horrific.
I've no idea where the pound will settle, but all those multi nations will be declaring some super earnings later. (Currency gains)
A strategy for the brave might be to unload some of your US holdings which should show quite a decent profit in Sterling and re invest in UK.
Are all trading platforms being affected by the volumes?
AJ Bell are saying,
"Please note there is currently very limited electronic trading available on the London Stock Exchange and it is unlikely quotes will be returned for online dealing"
Telephone dealing is £30 versus £10 online, kerching!
AJ Bell are saying,
"Please note there is currently very limited electronic trading available on the London Stock Exchange and it is unlikely quotes will be returned for online dealing"
Telephone dealing is £30 versus £10 online, kerching!
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