Really noob sounding question guys...

ggbman · #1 11-27-2007, 01:57 PM

Sorry to clutter this forum with a post like, i will make up for it! Anyway, I opened a TD ameritrade acount the other night and placed an order to be executed when the market opened for 500 shares of a stock with a reasonable volume and it has not been executed yet. Is this commom?

ggbman · #2 11-27-2007, 04:03 PM

Bump. I know this is boring but can someone take the 12 seconds please? Is there any rational reason that an order for 500 shares of Flex. would not have been executed at this point?

dollerAday · #3 11-27-2007, 04:06 PM

Did you put in a market order? If so then I don't know what the problem is.

mtgordon · #4 11-27-2007, 04:06 PM

This is not typical. My best guess is that maybe the money you are transferring to ameritrade has not yet cleared so you are not allowed to buy anything yet. Try checking to see if you have a balance or anything that would indicate you actually have buying power.

Now will you teach me how to be good at poker?

hawk59 · #5 11-27-2007, 04:06 PM

Did you use a market order or limit order. Market order means you buy at the current price, with a limit order you enter your limit price and the order will not go through if the price is above that.

ggbman · #6 11-27-2007, 04:16 PM

I used a market order which is why it is so puzzling. I funded the account electronically last night through my bank account, which cleared immidiatley. My account balance shows the amount I transfered, with the remaining balance not from this trade as "cash" and this seems to be an "open order" and shows as a cash equivalent, but the money is not available to make a different purchase. That seems weird right?

Oh and I don't know about poker lessons, but I'll try to make some legit contributions to this forum in the near future? [img]/images/graemlins/tongue.gif[/img]

ArturiusX · #7 11-27-2007, 04:49 PM

I'd call up your broker asap. Something ain't right.

ggbman · #8 11-27-2007, 05:02 PM

So i'm an idiot, I guess i made it a "market close" order so the purchase would occur at the end of the trading day today. All solved!

mtgordon · #9 11-27-2007, 05:06 PM

Congratulations on making 0.1% by accident (if I'm looking at things correctly)!

ggbman · #10 11-27-2007, 05:41 PM

I know right, maybe i should stick to poker [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img] [img]/images/graemlins/confused.gif[/img]