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What prices for your shares?
Eddy
#1 Posted : Wednesday, July 01, 2009 5:14:00 PM
Rank: Member

Joined: 7/20/2006
Posts: 277
Good people,

I am curious,every time i sell shares i always have my broker pay me based on the average price for that day....... i am wondering whether it is not possible that at times they sell at the higher price and pay at the average..... any different experience.

Mainat
#2 Posted : Wednesday, July 01, 2009 9:14:00 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Yes some do and have always done. Used to have arguments with my dealer about it because I'd always get my limit order sell price even when there are similar size of deals transacted at higher prices.
One way to get round this is to make sure your limit sell price is higher than previous days close.

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Obi 1 Kanobi
#3 Posted : Wednesday, July 01, 2009 11:03:00 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
Whenever I place a best price order,when buying,I coincidentally get the highest price and when selling the lowest price.

Shameless theft but what to do,an occasional surprise with the best deal would be nice but I ain't holding my breath.


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SUSU
#4 Posted : Thursday, July 02, 2009 6:40:00 AM
Rank: Member

Joined: 11/14/2006
Posts: 64
Location: Far East
@Kanobi

I feel you.. I have been experiancing the same....'. place a best price order,when buying,I coincidentally get the highest price and when selling the lowest price...'.

But what to do? the best thing is to make sure the price will never fall below your purchase cost when selling ..we are at their mercy... OR state your own price (This way u ur order might stand the way it is till expiry) this way they can 'cook' nothing. the worst thing is to buy at best price ..they'll ALWAYS screw you with the Highest price.


jerry
#5 Posted : Thursday, July 02, 2009 8:13:00 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
Use online and state ur price. This seems the only way out.

Hotels will always serve the fruits/vegs of the season. In stocks,ur duty as a trader is to identify the HOTshare of the season.
The opposite of courage is not cowardice, it's conformity.
mukiha
#6 Posted : Thursday, July 02, 2009 9:53:00 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
Let me understand this: do you get a statement from your broker showing the CDSC transaction reference number and the price?

If you don't,then insist on it. In the old days,before CDSC,we used to get printed NSE transaction slips showing how your order was executed.

If your broker sells your shares at 10bob in a day where deals fluctuated from 9 to 10,but then pays you 9bob,then s/he is a thief!! Should be reported (in writing) to CMA,NSE and CDSC.

A way of monitoring is to sign up for the CDSC SMS service. Your will get updates of transactions and prices at the close of the business day....directly from CDSC and your broker will not know that you have been updated!

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Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
SUSU
#7 Posted : Thursday, July 02, 2009 10:27:00 AM
Rank: Member

Joined: 11/14/2006
Posts: 64
Location: Far East
@Mukiha

That is cool.....Lakini what if u r holding a 'Nominee Account'? With N/Acnt the CDS are only communicating with the brokers and not me as an investor/shareholder. so how can i confirm the exact trading prices of my traded shares?
mukiha
#8 Posted : Thursday, July 02, 2009 11:25:00 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
@SUSU;

then there is no benefit in having the nominee account!!

Change your broker..who is your broker anyway?

Mine is NIC,and I find them trustworthy

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
Djinn
#9 Posted : Thursday, July 02, 2009 1:28:00 PM
Rank: Elder

Joined: 11/13/2008
Posts: 1,565
@Mukiha - does that CDSC SMS thing work ? Do you use the service?

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mukiha
#10 Posted : Thursday, July 02, 2009 2:16:00 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
Yes it works.

in fact my last order was executed on Tuesday and I got the update at 4:02pm.....showing the company,number of shares,price and the brokerage firm.

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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