Scottrade GTC

[englishman26]

Has anyone else found that they can't make "good 'til cancelled" orders with Scottrade anymore, or is it just me??

Anyone know why it would be just me??

[Pinguin]

I have four sitting in my queue right now...Are you trying to do pennies or something like that?

[David411]

a little unrelated, but i did't want to start another thread, how long does it usually take your limit sell orders to get processed? cause I have one sitting here for almost an hour during trading hours and mean while the stocks jumpin up and down all over the place, or does this not matter as long as you got your order in at a certain time

[madcowdisease]

Has anyone else found that they can't make "good 'til cancelled" orders with Scottrade anymore, or is it just me??

Anyone know why it would be just me??

From my understanding Scottrade's GTC orders are cleared periodically. I don't know their schedule by heart but I remember them saying something like the third or last Thursday of certain months. It's a weird shedule but I presume this is why you're having difficulties today. If you still can't do it tomorrow then I'd give 'em a call.

[englishman26]

No - I am currently unable to place a new GTC order and they did cancel one recently but it had only been open a few days. I have 3 open which they haven't cancelled. (This isn't related to their 60 day clearing process.)

[financenanc]

David411--(above)
Sometimes I cannot sell my shares with limit orders despite the limit being "hit" because people want to buy a smaller amt. then I'm selling. Could that be the case?

If so, make certain you're not selling "all or none." Typically you will not be charged double commission if your shares are sold in partial allotments (at least on ETrade you wouldn't.) There might be a nominal fee (like 99 cents) for trades after the first.

[psampson13]

David411 just because your ask price was hit that doesnt mean that your order will automastically go through. there could be other traders ahead of you with their limit orders being filled. Also if it is a low volume stock there might be more sellers than buyers and they cant match a buyer to your order. BTW if half of your order goes through today and the other half tomorrow you will probably be charged twice for the comission. but usually if it goes through in the same day(veven if its in 2 transactions) you will only be charged once.

[David411]

It said at the end of the day my order expired, i guess i should just sell at market if i really want to get rid of the stock. thanks guys