arimont
57 posts
msg #132431
- Ignore arimont |
11/10/2016 3:00:05 AM
Occasionally I do some Day trade, usually using LMT and/or STOP-MKT orders.
In the few weeks I have encountered a error that happens, not on every trade, not on every stock.
Until yesterday I occurred on this error only when trying to ENTER a position, so no real damage was done, I just missed out the trade.
Yesterday, I was IN a trade, it went against me (shit happens...) and I got my exit order rejected with the message: "Rejected: LMT PricePrecision".
Until I realized what happens, and that I should run an "emergency-exit" (using MKT order, which I hate), my loss grew fast.
When I contacted my broker, they replied (this is a qoute of their response):
"This rejection message that you see on your portfolio is a NASDAQ rule in which case for certain stocks either the LMT or the STP price (in cases of a STP-LMT both) has to end with 0 or 5.
For example for this trade your STP price was 13,69 in this case the price that would not be rejected could be 13.70, 13,65 etc."
Does anyone knows about such a NASDAQ rule? Anyone heard of this?
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