Just warning everyone so you don't get caught like I just did.
I use NAB as my online broker.
I had some PEM that I wanted to get rid off at open today. I lowered my sell price of PEM to make sure that I got into the auction. Hpowever, my bid didn't appear in the list and worse didn't make the auction. It appeared a couple of mins after the auction and sold at a lower price.
I rang NAB and they said b/c my price was >5% below the closing price, they process it manually! And basically bad luck.
I demanded my brokerage back (small consolation), which a rather snooty girl said she would do as a one-off.
They said all online brokers have filters like this to stop market manipulation. Does anyone know if this is true?
