I had put a sell order for a scrip in the morning with limit, though the scrip price had touched the limit and then went on decline , my order didn’t get executed and it was still open at the time of closer of market … Even the volumes for trade in market were big enough as compared to my nano offerings. Can some one explain if it happens frequently or can it be due to technical glitch from broker side ?
Stock : Loveble lingerie
When you place Stop-Loss Limit Sell Order, if price of that share moves beyond your price, your order won’t get executed.
Eg. If a stock is trading at 100, and you placed SL Sell Order at 95, even though your order will get Trigger at 95, but if prices moves beyond 95 to 94.95 your order won’t be executed. As you have placed Limit Order, for it to get executed price has to trade at your Limit Sell Price or above.
As you yourself said, the scrip went on decline after hitting your price.
, On the exchange, orders get executed on a ‘first come first serve’ basis. (queue system)
This means that if multiple bids are placed at the exact same price, and there is only one offer to counter it, the execution will happen for the person who placed the bid first.
Exchanges follow a “price-time priority” principle for both orders and quotes. Whenever an order is placed at any exchange, it’s given a timestamp which is then used to prioritize your orders.
This method of trading is called Central Limit Order Book or “CLOB” and is used by most exchanges globally. Such a system is necessary to maintain transparency in matching customer orders (bids and offers) on a “price-time priority” basis.
The highest bid will be matched against the lowest offer. The global standard also demands that the best 5 bids/offers be visible to all market participants by way of Snap Quote.