Let’s say you have 100 shares of company XYZ.
You want to place a limit sell order for those 100 shares at .00 a share. The stipulation is that you intend to sell ALL your shares at once.
Limit orders are not guaranteed to be fulfilled if the price drops too fast or there is high volume.
So, are you allowed to post multiple sell orders at cascading prices to make sure your stock is sold?
For example:
Order1: Sell 100 XYZ LIMIT .00
Order2: Sell 100 XYZ LIMIT .00
In hopes of being able to sell the stock between – ?
I could see some potential problems with this, but I cannot find any official information on the topic. A market order is not desired because if the price drops below .00, you might not want to even sell it.
This situation can come about when you original place the order with that being the expected minimal price the stock will hit, but it might fall faster than you plan and need to revise the order (which you can try to cancel, but that involves even more waiting).
Thanks!
no. limit sell orders can not total to more stock than you have.
use the all-or-none qualifier if you want to prevent partial executions
The problem, as you say is you could get filled for more than one order. It is possible, at least in the UK and you would just end up short of 100 shares.
1. the limit is the number of your stocks.
2. you can’t do that, because your stocks are only 100, not 200.