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Online Share Trading

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Stop loss

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Not applicable
Is it possible to make a stop loss that executes a BUY at a certain price? How do you do that?
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17 REPLIES 17
wattleido
Occasional Contributor
Limit order?
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Not applicable
How do you do that?
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klapka
Super Contributor
Go to trade. Click limit price and enter the price at which you want to buy.
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Not applicable
And what happens when the price you enter is higher than the current ruling price?
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klapka
Super Contributor
It becomes a PENDING buy and is only triggered when/if your offer price is matched.
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klapka
Super Contributor
One danger of doing this is some ****hole sells you one share for 10 cents and you still pay full brokerage.
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Blik
Super Contributor
Yip seen that happen with a single Faritec share at 8 cents I think.
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SimonPB
Valued Contributor
WRONG .. very wrong .. it will trade at current best offer
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Not applicable
No i dont mean that I mean i want the trade (or pending trade) to only go on the market when a price trigger is activated (I know a stop loss does this with a sale but how do you do it for a buy?)
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klapka
Super Contributor
Sorry I'm thinking of you wanting to sell.
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Russ
Super Contributor
Surely you just put in your buy order at any price you want to buy below ruling price.When (and if) the sellers get down there your trade will go through?It is triggered by someone selling at that price!! (or am I missing something?)
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Not applicable
I understand where you coming from Russ but I dont want my trade to be on the market until the trigger price is activated ( As what happens with a stop loss)
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Rams
Super Contributor
its called a BUYSTOP...a good idea for trading the ALSI also...i did ask SIMON at the index trading meeting and cant remember if OST will be offering that. But presently you cant...it will go on the market and your trade will be matched at the ruling price if your price is higher..hope this helps
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Not applicable
Thanks Rams So its impossible at the moment
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RisseN
Contributor
Yes unfortunatly it is impossible at the moment. This can be very useful if you trade breakouts. For example place a 'buy stop' above a resistance zone which only triggers if price breaks out of resistance. Unfortunatly that's not possible (not sure why not? it's commonly available in overseas markets that i've heard of)
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Rams
Super Contributor
and be able to set up a stop loss if order goes thru on "Buy Stop"...less time in front of computer!
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Not applicable
Definately, instead of tracking the price just put in a buy stop
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