Replies to post #59334 on Zerify Inc (ZRFY)

[blackshirej]

Unless you manage to get it canceled before open, I'm betting it would execute.

Got a GTC order in and scared the new info popping up here with news Monday am could spark the next run way higher than your order is set for? Lol

[moneym8ker]

It's a little long winded, but market orders can be complex and different brokers have different rules.

Many brokers offer a "best pricing guarantee" feature.

Say you have a GTC order at $0.0020 for SFOR.
News hits prior to a market open and the stock opens at $0.0040...best pricing is a feature where your online broker tries to get your order completed. If all the buyers are up at the $0.0040 range then you're in luck, that's where your broker will execute the trade.
Say there is some lone trader still with a buy order down at $0.002 BUT there's buyers up at $0.0040 then once again, best price algorithms kick in and you get the trade executed at THE BEST PRICE available.
Basically, if your broker has that feature then they'll execute your order at $0.0040 or whatever the best price is so there's not much of a chance of your order being filled at $0.0020 while the stock is at $0.0040 BUT it's important to know that these trades are happening in fractions of a second and the algorithm has to complete the order at the best price in that exact moment. So you may see a bid/ask of $0.0039/0.0040 and then see your order executed at $0.0034 and be like "wtf!!" But it was the best price at that moment.

Also, without a best price guarantee...yes! A shady broker would confirm a trade execution at $0.0020 when in fact the actual trade did not happen. They actually hold your shares, give you the $0.0020 price and then actually sell your shares at $0.0040 or whatever and they got to piggyback your trade and keep that $0.0020-$0.0040 spread. Then at the end of the day, they just file for a t-trade and no one is the wiser.

Not all online brokers offer best price guarantees. I believe TD is the only one I've heard advertise it.

It seems like an odd question tho: if you have a GTC sell order in and you're worried about a spike in the share price and you not getting much of it, you can cancel any order electronically at any time.

Find out what your broker has. If they offer BPG's then you're good to go. If they don't, then just be vigilant and know you can cancel a trade for no fee at any time day or night electronically, ALTHOUGH depending on your broker, you may need them to do it for you.

Insert smiley face here

[cjstocksup]

No. For example if SFOR get's a buyout overnight and we are at .03 or .05 on a open you would get the same PPS as the bid is. If the bid is at .03 you would get .03 per share.

Does anyone know what happens if you have a GTC limit order, and a stock opens above it? Can they sell your stock way below the natural range of the day, because of your prior GTC order?

[pitacorp]

no,. but you have to believe these guys will try to show the day opened up lower for a split second and then popped to the OPEN you are talking about, your trade executes and you are left wondering how could this happen..... or, better yet, there are too many shares at your limit order area, and these will get filled first, then if there is any left for you, you are good, but is not, then it drops, with you again wondering why....or even better, is the stock opens with a ask above you GTC price, but the bid is 50% lower(below your limit order price) and you do not get the sell.....too many scenarios here, and even ones not mentioned, ....remember, in pinkies land, MM's control the prices and what gets bought and sold, not a lot of regulation here or much you can do about it......