RE: Oz18 Dec 2019 07:59
Whizz, it is meaningless ..... I dictated the price with the help of whoever sold me shares at 9.4c .... probably the spiv who bought at 8.4c to my disgust last Friday.
My trader at IG was talking sense - his info was deadly accurate - he said try 9.2c because that was the last trade price. And, with nothing to show 9.2c, apart from a very temporary rise on the spread from 9c to 9.2c, indeed this morning 2 buys at 9.2c are evident.
The reason they were deleting my orders , as he suggested, was I offering 9.3c and 9.5c on an sp that was only 9.2c i.e. more than their 10% safeguarding margin for purchases. I blessed them a while ago because I entered my limit at 9.3, say, a brilliant price for a seller because I'd forgotten that unlike the FTSE which accepts pence, ASX deals in dollars! So I would have been clobbered on a deal for thousands while I was establishing my IG holding in ASX.
Do all brokers have the same sort of safeguard?
Just realised, that chump who sold at 8.4c will have lowered IG's acceptable deal price from 10c to 8.4c + 10% so how many people could not buy because of him? Not everyone is going to ring IG at the hour I did!
Interestingly, I think the person I spoke to may well gave been IT rather than IG so he was providing 24hour support?
I wonder if I dragged him out of a pub quiz in Bangalore , like I was in London when I did it it? He said he'd spoken to a dealer when he told me about 9.2c.
So my £250 , on paper only , has gained my portfolio over 2 grand .... but restored the price.
Instead of raising the price from 8.4c to 9.4c as I intended, it was already up to 9.2c but what does it matter on my imaginary portfolio - what a plonker on ADVFN!
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