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Commsec - some orders executed, some orders outstanding

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15 December 2012
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Hi all,

What happens if I have placed a limit order (which is good for the day) for, say, 100 units, and only 10 of them are executed by the end of the day? Does my entire order cancel?

Thanks in advance
 
Hi all,

What happens if I have placed a limit order (which is good for the day) for, say, 100 units, and only 10 of them are executed by the end of the day? Does my entire order cancel?

Thanks in advance

No, you'll own ten - and will be charged the full lot of minimal brokerage.
 
If your order was GTC and not just for the day you'd only pay one lot of brokerage until the entire order filled. This is from Commsec's site:


Sorry - just saw responses posted while I was typing, slowly....
 
What I never do is set for a day, ...

If I want just one day, I set for the max and close manually at the end of the day!

What I never do is say "never " It all depends.
If I want 100 at the price, but not pay any more, I'll use a persisting order with a broker like Westpac: They keep an order for weeks or months until it's filled or I cancel it, but only charge one brokerage regardless of number of bites.
In other cases, I use my Paritrade account, which works like Commsex; in that situation, I usually place "Day Only" orders. If I get filled only a small number and realise I won't get a full fill on the day at the price, I check the chart near the Closing time and decide what to do: I may do nothing, keep the few and have another look tomorrow; sometimes I up the bid to get a useful position, or I'll sell them at the Close. Brokerage is a business expense, no use fretting over.
 

Thanks Doc;
Apparently, Comsec have made their rules a little more user-friendly for the little guy.
 
Thanks Doc;
Apparently, Comsec have made their rules a little more user-friendly for the little guy.
I believe your partial quote refers to non-expired partial-fill orders.
I still think the li'l guy loses as you said earlier,

But I could be wrong?!
 
I believe your partial quote refers to non-expired partial-fill orders.
I still think the li'l guy loses as you said earlier,

But I could be wrong?!

For one-dayers, you're right: If the unfilled portion expires - be it automatically at the end of day or because it's cancelled days later - those 10 shares will have cost a full brokerage. If there's a chance the other 90 will get filled a few days later, then your rule puts you ahead of the one-day wanderer
 
With PariTrade, you can ask for strict "supervision" or loose "at your own risk" settings.
Check them out: http://www.paritech.com.au/

I had a buy order partial fill.
I noted a seller @ 10% higher than I'd bought.
With the buy order still open, I put in a sell order which then partly filled.
Now I am top buyer and top seller in the same stock !

Have I done a bad thing?
 
I had a buy order partial fill.
I noted a seller @ 10% higher than I'd bought.
With the buy order still open, I put in a sell order which then partly filled.
Now I am top buyer and top seller in the same stock !

Have I done a bad thing?

Smart trading, burglar!

As long as you don't buy up or sell down to yourself (something that the broker's system won't allow that anyway), you haven't done anything wrong. You found someone willing to sell down to you, then you found someone else willing to buy up. Day-trading pure and simple. Very successful even. Keep doing it.
Congratz!
 
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