Afternoon all, apologies if I am missing something obvious. I can place a sell order, 1p below current market buy price, at the time of writing, Pogba buy price is £7.86 so I can place a sell order at £7.85. What I am struggling with, is why once the sell order has been placed the buy price doesn't reduce to the £7.85......I am prepared to sell at that level so surely someone can buy at that level.
9stevo last edited by
@NewUser405121 You can't place a sell order, all you can do is list to sell. Once you reach the top of the sell queue your shares will sell at the current market price. They are talking about introducing order books (and have been for a while) but they're not here yet.
Because you’re only setting a reserve price. What you’re doing is saying that I’m willing to put my Pogbas in the sell queue, but if his price drops below £7.85 I no longer want to sell him, so FI will take Pogba out of the sell queue for you if this happens.
If you set a reserve price for Pogba of £7.70, you could still sell him at say £7.80 - if that was his price when you reached the top of the sell queue.
@9stevo Thanks. Apologies I was struggling to grasp where the queues formed, is there any way to see the liquidity ahead of you?
9stevo last edited by 9stevo
@NewUser405121 no worries buddy, happy to help, there isn't no you will know you're at the top when they start selling but that's literally the only way, the best you can do is estimate this by looking at his graph, assuming the delta of 600 to move him a penny I'd guess around 22000 shares in the queue so don't expect a fast sale!! I'm sure someone will correct me if the maths is wrong