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After hours trading
Posted on 8/11/17 at 9:36 pm
Posted on 8/11/17 at 9:36 pm
I'm new to trading stocks so can someone help me with out with some questions I have about after hour trading? (I'm with Robinhood) I made a bid right after market closed and with not knowing expected to get the stocks but of course I didn't get them. It says it's queued. So I'm guessing when the market opens it will trade for the nearest asking price? For example if I made a bid for $20 and it opens at $25 or more will it buy for a price way above my bid? Will I have a choice not to buy? Please explain how this works
3
Posted on 8/11/17 at 10:00 pm to ValleyofDeath
After hours trading only execute at limit price, meaning you have to set a specific price. I'm not sure how Robinhood handles it, but I know with Schwab, after hours trading bids are only good for that particular after hours session before they expire. So if I have a limit bid for after hours and it doesn't fill, my trade is killed. I could set up another trade to execute at market price open, but it'd be two different trades.
Posted on 8/11/17 at 10:02 pm to southernelite
Posted on 8/11/17 at 10:45 pm to southernelite
Thanks, i got an email saying order was submitted for the shares I ordered and I will be notified when executed. Never got notified yet. That was 5 mins before after hours was closed. My account still says pending and queued, it doesn't look it's cancelled. The link says all market order sells will stay pending till after hour session ends. Then it says placing a market order while all trading sessions are closed will queue the order for the opening for next day session. So im still not sure what's going on, if it will still trade or not.
Posted on 8/11/17 at 10:47 pm to ValleyofDeath
What southernelite said. I'll just add that most brokers require you to actually select your trade applies to after-hours trading. Most standard orders are single day orders spanning open market hours only.
A Good Till Canceled order would allow your order to remain active for multiple days at a time.
I'd suggest always using limit orders until you get a better understanding of what you're doing.
A Good Till Canceled order would allow your order to remain active for multiple days at a time.
I'd suggest always using limit orders until you get a better understanding of what you're doing.
This post was edited on 8/11/17 at 10:48 pm
Posted on 8/11/17 at 11:21 pm to RedStickBR
Thanks guys, I cancelled it. Next time I'll use limit orders.
Posted on 8/12/17 at 2:39 am to ValleyofDeath
Same is with me. I am too new to trading.
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