Understanding working orders

[Jonathan789]

I am new to the site and have never done working orders before...

I have put in a working order to buy Filta Group (FLTA). The order level is for 272p, and the quote is currently for 270p. Please can someone explain why the order isn't go through.

Thanks!

[Caseynotes]

Hi @Jonathan789, you will need to be a bit more specific. When you say quote to buy you should be meaning the buy price in the box and not the mid price on the chart (unless you have reset it). When you say 'doesn't go through' do you mean hasn't triggered or has been rejected, if rejected then there should have been a pop up rejection notice with some kind of explanation.

This chart has a large spread and looking at it with price set to 'Ask' (= buy), seems that price sat on 270 for nearly the whole the day and did not rise to 272.

 

[Jonathan789]

Thanks for responding, Caseynotes.

If I remember correctly, the buy price for the working order was for 272p, which was the price quoted in the right-hand box of the share dealing ticket.  Then the price quoted in the "Latest" column of the working orders screen (which I presume is the price of the latest purchase made in the market?) came down to 270p, but my order was still not triggered, even for a partial fill... 

Hope this gives some more useful info to come back on. 

[Caseynotes]

Hi @Jonathan789, looking again at the 1 hour chart and pulling volume up it appears there was simply no market, as in, no one on the other side to exchange buy/sell contracts with. There looks to have been a sell order go through at 9:30 on the 5 min chart then that was it, absolutely nothing else.

Must admit it's the first time I've seen black volume bars before ('unchanged'?) but the stock is very illiquid, you are very likely to find that the trade is even harder to get out of than to get in.

 

 

[Jonathan789]

Thanks again, Caseynotes.

Can you please tell me how to pull volume up on the chart to get the black bars integrated with the red and green? 

Also, why do the black volumes result in no change?

 

[Caseynotes]

Hi @Jonathan789, My pic was of the new platform and yours is from the old which does not seem to have the same function. In the new you can adjust colour etc by clicking on the volume label in the volume indicator window. See pic below, and the black is for 'unchanged' though why they are different heights I couldn't say hence the ?

 

[Jonathan789]

Thank you, Caseynotes. Can you please tell me how to change from the old to the new platform?

 

[Caseynotes]

Hi @Jonathan789,  If you only have a share dealing account the new platform is not available (yet) but you can open a cfd or spread betting demo account to pull up charts on the new platform then go back to the old platform to place trades.

You should be able to open a sb or cfd demo account from the 'My IG' page and then 'demo accounts'. 

[JamesIG]

Please also make sure your order when placed wasn't just 'limit day'. All those orders are wiped at the end of the day. If you placed an order on Friday you would need to make sure the trade type was Limit GTC (good till cancel)  

I can't see an FLTA order working right now for any of our clients?