I got share 'abc' on commsec, trading at $12.30 at 11:15am.
I've set a sell limit order at $12 at . Next minute 11:16am, it activates the order and sold it for $12.18. The share price is $12.35 at 11:16am
The share never once went below $12 (the closest was $12.03 and that was 15min after i got confirmation it got sold at $12.18!). Its still sitting high at $12.5 mark now.
These are small numbers but they're big considering we're here on ozbargain trying save a few dollars on a bigmac. Whats going on?
Im using marketindex.com.au is this not accurate enough to determine that its actually gone below $12?
Is commsec sell limit different to stop loss? commsec has some weird naming terms.
"Limit orders allow you to set a maximum purchase price for your buy order, or a minimum sale price for your sell orders. If the market doesn't reach your limit price, your order will not be executed."
Market never went below $12 so why was it executed? Isnt this saying limit orders are essentially stop losses?