Schwab have replied with the following
“You are correct the high was $20.30, but the stop loss order was triggered because the ask price has reached $20.35. Stop orders are base on either the ask or the bid price, not the actual execution price.
Please contact us if you have any further...
Was executed relatively immediately
The issue I have is my stop loss order was triggered below my target (I have been informed that’s because there was a quote present for that amount).
This sounds wrong to me but that’s what I’ve been informed :(
Sorry the screenshot is to represent what I input into the system (ignore the bid/ask) etc.
What I’ve been led to believe is the stop loss will trigger even if a “quote” is present for the amount - the ticker does not actually have to trade at that price. Seems unfair but guess that’s the way...
Hi,
I am new to this (so apologies if this is the wrong section but I did a quick search and couldn't find anything).
I took a short sale position on NYT yesterday as I saw it overextended. As I am new to trading I didn't want to risk too much so I took a limit short at 20.20 with a stop loss...