I tried to place a stop order today on PLNI but Ameritrade came back with an error. Something about not doing stop orders on OTC stocks. Is that right?
Posted by Machiavelli on :
most brokerages dont allow stop/loss orders on stocks under 1.00 a share.. it sux but thats life <shrugs> ... thats another reason micro's a high risk because you cant get stopped out if the trade goes against u...
Posted by PJ on :
I wonder WHY this is.
WHY don't they allow STOP orders on cheap stocks.
It doesn't make any sense to me
Posted by blueranger on :
no stop orders, no margins, no short selling, no nothing on stocks not listed on big boards.
you even have to have cash to buy them even with a margin account..
i have a margin account and i wait 5 days for deposit to clear and 5 days for the money to turn into non marginable funds....
the life of a penny trader.
Posted by Machiavelli on :
well yesterday after reading this post i figured i would try to put a stop/loss on SVSE and it went through .. <shrugs> ... btw i use Choicetrade ... hehehe they used to not allow stop/losses on stocks under $1 ...
Posted by sonic0boom on :
Machiavelli, you were able to do this recently on Choicetrade? I know I tried to put a stop limit on a penny stock about a month ago, and it wouldn't let me submit the order ... Guess I'll have to try again!
Posted by Machiavelli on :
yeah i been putting stop/losses on SVSE everyday.. i didnt last nite though... i forgot to... but the stock finished up .01 per share today so all is ok..