Top 2%
I placed my trades about 5 minutes before market close this Friday. After more than 10 hours these trades are still pending. Is this common a problem that people experience with MarketGuru?
And another thing, it would a nice feature to have in MarketGuru if we can easily swap into and out of our securities for the same total dollar amount. It will help me tremendously because I try to post my trades as accurately as possible; often my trades will involve a sale/purchase of short-term Treasury in order to purchase/sell a stock.
This post is more than 60 days old. Replying to it might be confusing for other members reading the discussion.
By all means, keep the ball rolling and post a new opinion.
Top 50%
staff
Aug 23 at 7:55 ET
Hi Master,
Thank you for pointing this out.
We record the value of stocks purchased for the exact time you made your trade.
Sometimes we have to wait up to 25 minutes to get the correct price.. until then your purchases remain "pending".
Your case however, is unique because you traded near to the close of trading and we can already pull the price at the time of trade from the "end of day" data.
We will make this change in our next version as this is definitely a great way to improve our service. Thanks for that.
Just to clarify,
Your trade will go through normaly on Monday morning when trading begins.
Please don't hesitate to write me with further questions or clerifications,
Have a great weekend.
Sean,
MG Staff
Top 2%
MasterOFate
Sep 26 at 5:01 ET
I placed an order to buy WB with about 30 minutes before close. I was expecting it to be filled at around $8.50. Instead, it was filled at the closing price of $10. Why the big difference?!
Top 50%
staff
Sep 27 at 4:00 ET
Hi Master,
If a trade is posted within the last 20 minutes (or so) of trading, you may indeed have gotten the end of day price for the stock.
The reason for this is the nature of our data feed which is 20 minutes delayed, so trades made towards the end of trading can sometimes get closing price.
We know this is tough when you are trying to pick up a fast moving stock towards the end of the trading day, but to ensure exact by the minute quotes we need to move to a real time data feed (like eTrade's) which is super expensive...
There is however, good news on this front as well:
Some ECN systems are offering real time quotes for much cheaper as part of their growth strategy. We have heard from our provider that real time quotes may be available for reasonable prices very soon. We will be the first to implement once this happens.
promise :)
Sean,
MG Staff
Top 2%
MasterOFate
Sep 28 at 2:39 ET
Here is a simple solution. 1) MarketGuru stores the price stream of all securities that users have in the portfolios. Presumedly, MG already has these data since the prices we see in our portfolio are 20-minute delay. MG just have to store these data from opening bell to closing bell. If storeage space is an issue, delete the data at the end of each day. 2) Fill the order with the stock price that occured 20-minute delayed later after the time of the trade placed. This should result in more accurate price filled.
Top 50%
staff
Sep 29 at 5:19 ET
Thanks for that, MOF.
These issues occur only with fast moving / high volume stocks. There are a few solutions we are looking into but the healthiest is upgrading the data delivery system to a faster one.
As I have mentioned there are changes in the field. Seems like ECN's are in competition and we will benefit from this. We're shopping around and should be able to upgrade for less of a cost that we previously anticipated. We feel this is a more comprehensive solution and a better fit. Following your suggestion would mean keeping member trades pending for longer.
We've got top guys on the case :)
Cheers,
Sean.