NAB 1.41% $25.15 national australia bank limited

how to lose money

  1. 1,459 Posts.
    On Friday Afternoon, I placed a Market Order to sell 3000 XYZ. I received confirmation by the website that my order had been placed with National Online Trading at 15:58:51.

    I have been informed that since Market Orders are a manual process, my request didn't hit SEATS until after the market had closed. At the time (approximately 16:01:00), my Market Order effectively became a Limit order at the best price (Lets say 310). During this "pre-open" stage, my order was trumped by other sellers effective leaving me stranded at 310.

    Accepting this as a pitfall of a "non full brokerage service", I would have assumed that my order would have been executed the following Monday morning on open. However, even though I wasn't notified, National Online Trading effectively changed my Market Order to a Limit Order at 310.

    Who gave them permission? Apparently I did when I placed my Market Order.
    What did it cost? $600.00
    What did I learn? Never to use this service again.
 
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Last
$25.15
Change
0.350(1.41%)
Mkt cap ! $74.11B
Open High Low Value Volume
$25.05 $25.29 $25.02 $130.8M 5.203M

Buyers (Bids)

No. Vol. Price($)
1 5774 $25.15
 

Sellers (Offers)

Price($) Vol. No.
$25.16 1410 1
View Market Depth
Last trade - 16.10pm 13/12/2019 (20 minute delay) ?
(live)
Last
$25.20
  Change
0.350 ( 1.55 %)
Open High Low Volume
$25.06 $25.29 $25.02 2062966
Last updated 15.59pm 13/12/2019 (live) ?
NAB (ASX) Chart
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