Could Not Get Filled Why Does This Happen

[rxs0005 10]

Hi Fellow traders

 

today i was following a stock and it came to my trigger price of 18.55$

 

i put in a limit order for 18.6 with AON checked so that i will definetly get the stock for at least 18.6$

 

for that minute when i pulled the trigger the stock traded from 18.49 to 18.57 and it did not get filled and it ran away upwards

 

i had called it correctly and i still missed out on this even though i had put in 3cents premium for that minute of the trade

 

why does this happen and also is it because the brokerage is quite pathetic i use scottrade.

 

do share your thoughts on this

 

thanks in advance

 

rxs0005

[Kiwi 16]

Interactive Brokers.

 

No hand holding. Not terribly enjoyable customer service.

 

But a real trading platform that can deliver you the options you need. You will have to do your homework though.

 

If you're only a beginner at this stick with the likes of scottrade.

[sevensa 10]

Hi Fellow traders

 

today i was following a stock and it came to my trigger price of 18.55$

 

i put in a limit order for 18.6 with AON checked so that i will definetly get the stock for at least 18.6$

 

for that minute when i pulled the trigger the stock traded from 18.49 to 18.57 and it did not get filled and it ran away upwards

 

i had called it correctly and i still missed out on this even though i had put in 3cents premium for that minute of the trade

 

why does this happen and also is it because the brokerage is quite pathetic i use scottrade.

 

do share your thoughts on this

 

thanks in advance

 

rxs0005

 

I wouldn't be so quick to blame the broker. This looks like you don't understand what AON orders mean. It does not mean that you will get definitely filled as you thought and AON orders have the lowest priority. If this was an odd-lot order, your chances to be filled would have been even lower.

 

Make sure to Google the different order types so that you understand what they mean before placing trades to avoid issues like this. Not understanding order types can be costly, especially when you want to close a position.

[thalestrader 14]

i put in a limit order for 18.6 with AON checked so that i will definetly get the stock for at least 18.6$

 

AON offers no such guarantee.

 

even though i had put in 3cents premium

 

Maybe I'm just old (and I'm really not that old), but that made me laugh - imagine, a 3 cent premium!

 

I still remember sitting in the bull pen and having the manager come in shouting, "We have 100k shares of xyz to go at 15quarter with 5/8ths gross!"

 

5/8th gross to the broker (that's 62.5 cents to you folks who think shares always traded in penny increments). Now that, my friend, is a premium!

 

 

Best Wishes,

 

Thales