General Comments / Chat, page-8697

Happens to me quite a bit, but if you have a little patience you can get around it. I'm with Westpac and if you bid to buy shares that are being offered but the offer price is a few cents or a few percent above the last traded price then they will cancel it.

The answer is to put your bid in at one pip above the last traded price, then move it up one pip at a time until it trades (otherwise, according to Westpac broking, you're not letting an orderly market occur). I think their explanation is bullsh!t and meanwhile the broking community is riding roughshod across all of these rules, but then again their clients pay brokerage at 6 times Hunterr's rate.

I had to do the above to buy BSE in Feb 2016 and it took half an hour to get up to the shares that were for sale at 5.2 cents. I'd been nervously buying for a few days from 3.7 cents when the world cottoned on to the fact they weren't going to go broke. A year later they were 35 cents and I thought I was a super rich genius - I was still just a lucky wanker, trying to get ahead. They're back at 17.5 cents now after all sorts of cr@p has transpired.