I have been placing limit orders for robin hood using the following code. I'm running into problems buying and selling stocks that are sub 1$.
Generally speaking the limit order does not allow me to input factional values bellow 1 cent.
How can i place limit orders that allow for a more accurate representation of value and not truncate the actual calculated limit price?
order_target_percent(stock, weight, limit_price=limit_price[stock])
Broadly you should be aware of this program run by the exchanges and likely impacts limit orders for small cap stocks: https://support.robinhood.com/hc/en-us/articles/214848443--0-05-Increment-Orders
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I believe that you are incorrect in assuming that robinhood only allows investments to be place for micro caps at 5 cent increments. i have placed multiple orders today on penny stocks today as has my algorithm .
ie. just a few hours ago my algorithm placed a limit order for .51 cents on SLNO however the calculated limit was .5175; regardless my limit did fill.
2017-06-29 12:31 PRINT 0.517575
2017-06-29 12:31 PRINT Equity(48079 [SLNO])
Notes:
1) truncation of the limit buy doesn't pass a factional value from Quantopian to the Robinhood API.
2) Robinhood does not prevent limit orders form being placed that are not in 5 cent increments. When buying manually I can limit order to 4 decimal places.
I would be happy to attach a screen shots to illustrate these points.
Even if a stock is part of the Tick Size Pilot Program and my orders are rejected ( Dont care) what about my ability to buy and sell all the other stocks that arnt part of that crap?
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian.
In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.
