posted
I am new to this but I'm catching on thanks to all of the forum people and the info you all provide. I have a question about trading I hope someone can answer. Frequently when I put in a trade request they do not buy/sell the stock. I've sat and watched for up to 4 hours until the stock moved out of my limit I set. It never bought/sold the stock. I've lost out on a lot of good buys and sells. Since I deal in OTCBB or OTC or stocks of this nature I know you can only place a limit order. I use Ameritrade and I just wonder if this is normal? Is there a quicker way to make them buy/sell? Or is there another company that provides better times to buy/sell. One more thing, I don't place enough trades in a month to get there 9 second guarrentee. I'm still working up to that. Or does that even apply to limit orders?
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posted
Not getting filled when your bid is off the ask is normal but not always.
In the ideal market your bid becomes the bid price of the stock and any sellers would get your price.
However in the current markets for otcbb the market makers will hold your order out of the market and only fill if the ask moves to you or below many off the times.
At any rate I would only use limit orders for otcbb stocks. Market orders are filled above the ask or at the new ask when you place them.
posted
Thanks Bob for the good info. I have one more question. A couple of the stocks I monitor have no ask or bid price. That kind of throws me off. Why is that, and how do I know what to place as a bid so it will buy it quick? I guess that was two questions.
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posted
Thanks again Bob. Went to Pinksheets.com and the bid and ask was listed. Why Amertrade don't show it I don't know. The stock I was talking about was GXXL.
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