I'm new to this, but I bought around $500 worth of DBMM. Today the price went up to 0.0010 from 0.0006, and I wanted to sell around $100 worth of stock. I placed the limit order at 0.0010 when the price was 0.0010, but then a few minutes after I placed the order, the price dropped to 0.0008. The sell order is now "Open." It hasn't gone through. Does that mean I didn't actually sell at 0.0010? Does it have to go back up to 0.0010 for the order to go through?
Help me out /biz/...I'm used to Robinhood and things are much easier there.
yes it didn't execute
also stop using them you're getting raped in fees with your little chump change
dumb faggot
>>1769582
Yes it needs to go back up to 0.0010 to execute?
I use TD to get info on stocks I trade on Robinhood, and ended up buying a meme stock (DBMM) I couldn't find on RB. DBMM moved up from 0.0002.
>>1769599
IF SOMEONE CAN BUY IT FOR .0008 INSTEAD OF .0010 WHY THE FUCK WOULD THEY BUY IT FROM YOU FUCKING RETARD
>>1769673
So then what's the point of the price listed for each share if you can't sell it at that price?
Does that mean that if you're looking to sell, you shouldn't pay attention at the price of the stuck, and instead look at the ask price?
>>1769687
because there was a buyer and a seller?
i don't get your questions, that's called a spread.
and yes that exists on highly illiquid trash meme shit you're buying.
you really shouldn't be 'trading' if you're this retarded
you're going to lose all your chicken tendie money and want to never invest again and miss out on some sweet compound returns.
>>1769725
Thanks. I'm learning, but you know, can't find the motivation to learn unless I'm somehow invested in the short term.
>>1769687
>So then what's the point of the price listed for each share if you can't sell it at that price?
Jesus kid, get an education before trading bullshit penny stocks. You'll lose money either way, but at least you'll better understand why you're losing money.
Or just take the value in cash, start recording a video, and burn the money. You'll make more monetizing that video on YouTube than you'll ever make trading in the stock market.
>>1769742
This is really how you learn-
rather than throw away money to some scam class you lost a little in a trade, but it set the fire under you to actually learn the basics of liquidity. You're paying for the level of engagement , school can't give you that.
>>1769798
>This is really how you learn
Well, that's what I tell people, anyway.
I need all the chum I can get, you see.
>>1769687
because that's the price of the last transaction
The price you're seeing is the last executed price. It's history. The Bid and Ask are what's currently on offer with a certain amount of liquidity behind those offers.
If you wanted to get rid of your shares you would sell at market. If you have two shares and the bid is two shares at $1.00 you'd end up selling your two shares at $1.00. You are a market taker in this example and the bid drops to the next level, lets say three shares at $0.99.
If the bid was one share at $1.00 and the next bid was three shares at $0.99 you'd sell one share at $1.00 and one at $0.99 with an average price per share of $0.995.
One last detail. If the bid at $0.99 was AON (all or none) order that bid would be skipped as you are only offering one share not the three required to satisfy that bid. Hence it would drop to the next bid, lets say one share at $0.98. You'd then end up selling one share at $1.00 and one at $0.98 despite there being a bid at $0.99.
Now what you did.
You saw the last executed price at 0.0010. You placed a limit order to sell at 0.0010. The limit requires your order to execute at your price or better. You have entered an asking price for a certain amount of shares, (AON?), this time you are a market maker.
What happens now? If your asking price is at the current bid it would have executed IF there was no share requirement mismatch. The other scenario is your order is sitting and waiting to get executed. The last executed price was 0.0010, but that's history. You placed your ask at 0.0010 while the bid might be at 0.0080, the spread is at 0.0020. You are waiting for someone else to take up your offer. A market taker could come in and buy shares at market. If your ask at 0.0010 is the current ask price, you don't have a number of shares mismatch, and you're not last in line at 0.0010 (there are other market participants who may have placed their asks first) then your ask would get taken and your sell limit order would be filled at 0.0010 or better.
>>1769561
I suggest you stay away from penny stocks. You are certainly going to lose all your money. Not to mentions the commissions will kill your account as well. Then again you probably won't listen until you lose it all so at least only use small amounts of money to make the lessons you will eventually learn not end up breaking you financially.
Good luck.
>>1769561
No robbinhood has poor execution that's why I still pay my broker