Need help placing a trade

[estate208]

Hi all,

I have an account with TD Ameritrade and have a question about placing Trailing Stop orders.

First, I sold short 500 shares of a stock at $2.25 per share.

Then, in order to buy it back, I wanted to setup a Trailing Stop Order.

With the stock trading at 2.13, I tried to place a Trailing Stop Buy Order with a stop parameter of 10 cents (0.10)

I got the following error message and was not able to place the order.

"ASK AT OR ABOVE is not allowed in order conditions because market centers can report arbitrarily high ASK."

I tried hard but couldn't make any sense out of this stupid message.

Could somene please tell me what it means in plain english, and how to get around it.

Thank you for your time.

Vas.

 

[trader198]

you can join the chat support.

$0.1 and put a stop loss is stupid.

you shorted $2.3, then to me stop loss should be at least $0.3
150 bucks, plan to cover it at 1.8~2, that makes sense.

short $2.3 penny stock is riduculous, too much risky. penny stocks just like options,
when they crazy, they shoot 50%, even 200% in a day very common.

to me, I would buy a penny stock, why? too little risk, but huge reward.
like PLUG, from 0.15 to 11.7+ in one year, of course at those levels, only suckers are buying.

I will short big ones!

 

[FXforex]

Hi all,

I have an account with TD Ameritrade and have a question about placing Trailing Stop orders.

First, I sold short 500 shares of a stock at $2.25 per share.

Then, in order to buy it back, I wanted to setup a Trailing Stop Order.

With the stock trading at 2.13, I tried to place a Trailing Stop Buy Order with a stop parameter of 10 cents (0.10)

I got the following error message and was not able to place the order.

"ASK AT OR ABOVE is not allowed in order conditions because market centers can report arbitrarily high ASK."

I tried hard but couldn't make any sense out of this stupid message.

Could somene please tell me what it means in plain english, and how to get around it.

Thank you for your time.

Vas.

Is there an option to indicate that it's a To Close order?