I had a limit order to buy a stock at 1 3/4. It opened at 1 7/8. The price dropped to 1 1/2, and then climbed back to 1 7/8. My trade was not exicuted, even the the price 'went by' my order price at least twice. Any good ideas how this could happen?
This is the second trade in a row that this has happened to me.
Thanks for the response, Martin. I really don't remember what the spread was, I had to go to town today and that reset all my mental gears to neutral.
Just before I left, I got a call from JBOx to the effect that since my order was for a specified number of shares and the lower trade was for an amount less than my order, they couldn't fill. No, it wasn't an "all or none" order. Even more interesting, when I got back from town, there was a note on my answering machine to the effect that "the trade at 1 1/2 never happened." It showed on the JBOx screen for 2 hours, the first guy to call confirmed it and discussed the number of shares traded, then "Oops! there was no trade at 1 1/2, change the tape!"
This reminds me of my last fishing trip -- I have to guess what kind of bait to use, and if I catch a fish, it is pure luck. Damn fish don't let me know what the rules are. <G>
Jim, this is what I`ve been talking about in some of my past posts. JB DOES NOT GIVE ACCURATE QUOTE INFORMATION! I`ve explained this to them time after time and nothing seems to be done about it. JB just does`nt care. Case and point. Today (9-2-97) America West Air (AWA) showed on JB`s quote system it was trading at 11 7/8 and 11 15/16 for about an hour. IT NEVER HIT THAT PRICE JB! The low for the day was 12. My advice to JB account holders is to transfer out and go to a brokerage that cares and takes care of problems like this. JB can not go on with rotten service like this. They will not survive in this competitive industry.
JB can not go on with rotten service like this. They will not survive in this competitive industry.
Bob, I sure wish that were true. You and I are still here, aren't we? Why haven't we gone elsewhere? Because they are all the same. I don't know about you, but I've been shopping for several months, and can't find anywhere worth transferring to. I had great hopes for Datek, but after following their thread for a while, here I am, still with JBOx.
To be fair (as much as I hate to do it <G>), JBOx does say that they do not guarentee the accuracy of their quotes. Like a lot of brokers, they buy them from a quote service, and the quotes come across the wires unedited. Far be it from me to defend a broker, but I can see how errors can happen.
First time post here. Been trading with JB now for 3 years CAN'T really complain. Best price in town. They'er one of the few that will trade pennies without a form for each trade. Maybe you need a different agent. Ask them to reasign you to someone else.
When I put an order in with JB I ask them how many are on the bid side and how many share are on the ask side. I also ask them at what time is it that they are showing. At which time I place my order based on that unless I am putting my offer in at a price that is lower then the bid. Since I started doing that I have been getting my orders filled. It might take a day or two but they get filled. You have to remember that these guys are order takers and if you don't give them instructions then don't look for positive results all the time. Its taken me 3 years to figure this out. If you want to have your discount broker do what a retail broker does then you have to instruct them.
Now read your post. Your order didn't get filled because you put it in below the bid/ask. How do you expect it to get filled? He did just what you told him to do. You can't fill an order if no one wants to sell you something that is lower then they want to go. Now think about it.;-) Why don't you just leave your order in GOOD TILL CANCELLED? Maybe it will get filled in a day or two?