Today I purchased a stock that was trending up. At the time that I submitted my order, the price was charting at 27.35. I put in an order for 6 shares. I get the confirmation that I purchased 6 shares for $34.27. I'm already down -20%
I am wondering if one of two things happened:
1. The spread between ask and bid was huge, and I failed to notice
2. I may have bought an American exchange fund using Canadian currency and when I was looking at the chart, the 16.35 was in American funds, and I didn't catch on to that.
Any thoughts? I'd like to know what happened so I can avoid this mistake in the future. I am with a low cost broker (although it's a big bank), so there is no virtually no support. Last time I called, they had me on hold between 9:30- am and noon and I finally hung up. Anyway...
Thoughts?
Thank-you
Edit- I found out how it happened. It was option 2 above. However, I guess it's all relative. I had to pay the exchange rate, but obviously, if the stock ends up having strength, it will all come out in the wash. I left this thread up , in case anyone stumbles in the same way i just did.
I am wondering if one of two things happened:
1. The spread between ask and bid was huge, and I failed to notice
2. I may have bought an American exchange fund using Canadian currency and when I was looking at the chart, the 16.35 was in American funds, and I didn't catch on to that.
Any thoughts? I'd like to know what happened so I can avoid this mistake in the future. I am with a low cost broker (although it's a big bank), so there is no virtually no support. Last time I called, they had me on hold between 9:30- am and noon and I finally hung up. Anyway...
Thoughts?
Thank-you
Edit- I found out how it happened. It was option 2 above. However, I guess it's all relative. I had to pay the exchange rate, but obviously, if the stock ends up having strength, it will all come out in the wash. I left this thread up , in case anyone stumbles in the same way i just did.
