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RBC direct invest

  • Last Updated:
  • Mar 18th, 2017 1:00 pm
Deal Fanatic
Jun 26, 2011
9163 posts
541 upvotes
alanbrenton wrote:
Mar 17th, 2017 11:23 pm
This is how limit sell orders work? Yikes if the stock trades at anything 22.50 or lower the next day, RBC will sell the shares if you put in a limit order sell for 22.50?
No, sorry for the confusion. In his example he asked about a "Stop Order" at $22.50, not a Stop Limit.

If you were holding at $24 and put in a Stop at $22.50, it will go live at $22.50 and sell there or below

If you had a Stop Limit Order at $22.50 and a Limit of $20, an Open at $17 would not sell your shares, because the price opened below your limit.
[OP]
Newbie
Aug 16, 2015
61 posts
3 upvotes
RolandCouch wrote:
Mar 17th, 2017 11:31 pm
No, sorry for the confusion. In his example he asked about a "Stop Order" at $22.50, not a Stop Limit.

If you were holding at $24 and put in a Stop at $22.50, it will go live at $22.50 and sell there or below

If you had a Stop Limit Order at $22.50 and a Limit of $20, an Open at $17 would not sell your shares, because the price opened below your limit.
In other words when bad things happen you're going to get screwed regardless. Well that's not exactly reassuring.

what about when there's crazy swings while the market's open. like snap chat going up for down 12 percent for no real reason. Will the scummy banks manage to get you your stop price?
Deal Fanatic
Jun 26, 2011
9163 posts
541 upvotes
kilburn305 wrote:
Mar 18th, 2017 12:11 am
In other words when bad things happen you're going to get screwed regardless. Well that's not exactly reassuring.

what about when there's crazy swings while the market's open. like snap chat going up for down 12 percent for no real reason. Will the scummy banks manage to get you your stop price?
I think you are reading into things a bit too much. SNAP is going to be volatile because it is new and there is a lot of money piling in and out right now. SNAP could go down by 12% or a lot more. Not really a good example.

Remember there is risk with everything...you could have made easy money on SNAP IPO and you can lose money on it now just as easily.
Deal Addict
Nov 9, 2013
1531 posts
454 upvotes
Edmonton, AB
kilburn305 wrote:
Mar 18th, 2017 12:11 am
In other words when bad things happen you're going to get screwed regardless. Well that's not exactly reassuring.

what about when there's crazy swings while the market's open. like snap chat going up for down 12 percent for no real reason. Will the scummy banks manage to get you your stop price?
For better or worse, volatility is a part of investing. Sometimes it creates opportunity (like the day last week when TD tanked 5%). You can deal with it by i) focusing only on low volatility (low beta) stocks or ii) largely ignoring it, unless it creates a buying opportunity. Personally I prefer the latter.
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