Had a $2.00 stock today that traded 2 Million shares. Went up then hardly traded and I wanted to sell it. Had 5000 shares. The bid was for only like 400 shares at a time.
I had to keep breaking up my shares for like a 1/2 hour until I was all out. So you can't have 50,000 shares
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Is $10K around the average you like to put in on each trade ?
I always wanted to know what to do in a situation like that do you sell 1000 at a time?
Indeed! Small caps 101....you'll get burned PM or AH with trying to sell too many at a time...hogs get slaughtered...
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Truth! I’m very careful in extended hours. I watch the tape to make sure I have an exit and sell into the bid.
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You don't need to place multiple orders though.
You can just pop it in the system as a single sell LMT and it will take care of it x shares at a time as per market demand.
I think most platforms are default to hide order size. Mine puts all orders as 100x shares.
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And I've also been trapped in the same situation.
Its a nightmare sometimes.
I use Vanguard and they will break your trade up for you. I may only sell 50% at the top, but they will continue to sell the remaining 50% on my behalf, even if that means I don’t maximize my theoretical profit. They’re quicker at executing than me angrily selling.
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In my experience their system is faster and provides better gains than me. It’s an option of course if you truly prefer to do it manually, you can