I have been in real estate investing all my working life, but when I retired last year, I liquated all my rental property and started learning about the Stock Market. I have been working some deals based on company announcements that typically happen just after the market closes. A recent deal, I read the announcement at 4.03 CT like everyone else and immediately placed a buy order on TD Ameritrade, including extended hours but on opening the next morning, the price shot through my bid and I missed the gain. Is there a way to at least compete with the industrials and computer trading.
You can trade afterhours on TD ameritrade using a GTC+ext hours order, but some issues are very illiquid with huge bid/ask spreads until the market opens. Also, some issues are limited to certain hours, and do not trade 24hrs like the SPY/QQQ etc. Since you can only place limit orders after hours, it is not uncommon for the open next day to be well above your bid if the ask price never comes down.
Anticipating company announcements/chasing announcements, has cost me a lot in trading. My best advice, as cliché as it sounds, is buy the hype, sell the news. If u wait till the announcement, i think u will need a neuralink to compete. why was it for next morning? U could buy that night? Right?
"buy order on TD Ameritrade, including extended hours but on opening the next morning, the price shot through my bid " My system has worked very well for me with no losses so far. Just would like to get in on the early jump. Rod
click on the support button on top of tdameritrade home page. then click "ask ted". he has the answers to all things tdameritrade.
