ok. I put a order in to sell at .0195. The price is currently at .02. Why hasn't my trade been triggered yet?
Most penny stocks are thinly traded - thus most come with a rather large bid/ask spread. Just because the price is @ .02 doesn't mean that is actually where it is trading. It might have hit .02 earlier today, but then the bid/ask might now be below your .0195. The other thing is if you submitted a stop vs limit order, but my guess is that the stock is thinly traded and the bid/ask moved since you placed your order.
I agree with AverageJoe it is most likely a liquidity problem. Kind of wierd in that just seconds ago I was talking about this issue in the live chat about this very thing. One should be aware of the average volume on a stock before trading it. If it is less then 200,000 shares a day be wary. If you see a bid/ask of more than a penny in "most" stocks then you might have issues getting in or out at your price. Quickest way out on low volume stocks is to send in a "Market" order and be ready to sell at the bid.
Good explanations already... I'll just add to it Technically, there is never a "current price".... When you look at your screen and see $0.02, that only means the last trade was made at $0.02.... But it doesn't mean the next trade will be As AverageJoe said, the bid/ask spread is a better place to look.... If you're selling, you should be watching the bid price.... If you're buying, watch the ask
