Selling LTTs on secondary market
Posted: Sun Nov 11, 2012 9:24 pm
Gumby or anyone:
You mentioned in your tutorial that using limit order on selling LTTs. I tried to sell the bonds using limit orders at Fidelity. First I set the price a bit higher than Ask price (real time quote at lower right hand), Fidelity cancelled it after a min. Then I set the price exactly at Ask price, Fidelity cancelled again. Then it won't let me do limit order any more because "too many attempts". So I tried to sell at Market and I got the price much less than Bid price. e.g. bid price at 99.875, market order got me at 99.828.
So have anyone successfully sell a limit order at Fidelity? if so, what did I do wrong and how would I get the price I want?
Thanks
p.s. I posted this on Bond buying tutorial thread but didn't get any reply, so I repost it with new thread.
You mentioned in your tutorial that using limit order on selling LTTs. I tried to sell the bonds using limit orders at Fidelity. First I set the price a bit higher than Ask price (real time quote at lower right hand), Fidelity cancelled it after a min. Then I set the price exactly at Ask price, Fidelity cancelled again. Then it won't let me do limit order any more because "too many attempts". So I tried to sell at Market and I got the price much less than Bid price. e.g. bid price at 99.875, market order got me at 99.828.
So have anyone successfully sell a limit order at Fidelity? if so, what did I do wrong and how would I get the price I want?
Thanks
p.s. I posted this on Bond buying tutorial thread but didn't get any reply, so I repost it with new thread.