# Can I set a sell price BELOW the current market price?



## Razoredge777 (10 October 2022)

Have question for my trading platform which changed and they no longer offer a Stop loss option too???
Anyway after a heated discussion about how can you trade properly without stop losses to especially when a crash occurs
my question is.
Can i use my regular platform buy/sell to set a SELL price BELOW the current price?  My options are "Best, Market to Limit and Limit

Thanks for any help here as the broker isnt very responsive at this time to my questions as a customer??


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## divs4ever (10 October 2022)

Razoredge777 said:


> Have question for my trading platform which changed and they no longer offer a Stop loss option too???
> Anyway after a heated discussion about how can you trade properly without stop losses to especially when a crash occurs
> my question is.
> Can i use my regular platform buy/sell to set a SELL price BELOW the current price?  My options are "Best, Market to Limit and Limit
> ...



welcome to ASF,

  the short answer  is YES !  

however the long answer is usually  more complicated 

 market to limit  is probably your best choice if trying to quickly sell  ( BEST  is 'guaranteed ' by most good platforms   , although they can only do so much in some markets )

 now one thing to remember  is , if you  are trying to sell a fair few units  your sale price might look like  say $1 , 99 cents , 97 cents  95 cents  as each  level of buyers have their order filled  , until your sell order is completed 

 hope this helps 

 cheers


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## divs4ever (10 October 2022)

BTW , in a really nasty crash  , a stop loss can be side-stepped  if a falling market opens the day UNDER that stop loss  , and never rises up to your sell price ( in the time needed )


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## Razoredge777 (10 October 2022)

divs4ever said:


> welcome to ASF,
> 
> the short answer  is YES !
> 
> ...



Thanks but i already know all that and been a trader a while. My question was HOW do i use the buy/ sell platform to use it like a stop loss and say stock A is $1 and going up and i want to trail behind say 15% below and set a sell at 85c so if it starts to drop, i can automatically sell at 85 or 87 ect as it goes 1, 1.05 then reverses. Like a stop loss where you set < or > the price. My old platform has contingecy orders as well as buy/sell but they remove them and how can i protect my trading now?


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## Razoredge777 (10 October 2022)

divs4ever said:


> BTW , in a really nasty crash  , a stop loss can be side-stepped  if a falling market opens the day UNDER that stop loss  , and never rises up to your sell price ( in the time needed )



Yes i realise that too but at least its there when you are away from the screen and if a slow crash like happening now, SL will work fine.
So can i do this with reg Buy/sell buttons? or cant you set a lower sell price when SP is higher?


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## qldfrog (10 October 2022)

Razoredge777 said:


> Thanks but i already know all that and been a trader a while. My question was HOW do i use the buy/ sell platform to use it like a stop loss and say stock A is $1 and going up and i want to trail behind say 15% below and set a sell at 85c so if it starts to drop, i can automatically sell at 85 or 87 ect as it goes 1, 1.05 then reverses. Like a stop loss where you set < or > the price. My old platform has contingecy orders as well as buy/sell but they remove them and how can i protect my trading now?



Not what you want to hear but...change platform....
Seriously


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## divs4ever (10 October 2022)

Razoredge777 said:


> Thanks but i already know all that and been a trader a while. My question was HOW do i use the buy/ sell platform to use it like a stop loss and say stock A is $1 and going up and i want to trail behind say 15% below and set a sell at 85c so if it starts to drop, i can automatically sell at 85 or 87 ect as it goes 1, 1.05 then reverses. Like a stop loss where you set < or > the price. My old platform has contingecy orders as well as buy/sell but they remove them and how can i protect my trading now?



  a trailing stop-loss  is what that is called  ( ie. follows the price up  , and if the trend snaps lower sells you automatically at  say minus 5%  the best price to date )

 if your broker no longer offers this service , the only way i can think of is be  glued to the screen  with the sell order half-ready to send 

 maybe  some other members ( who actually trade ) can help 

 cheers


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## Razoredge777 (10 October 2022)

qldfrog said:


> Not what you want to hear but...change platform....
> Seriously



I already well ahead with checking out some others that offer around $10 min and low monthly fees. Might contact their head office and speak to the to see if they getting complaints and if they will do anything. Strange behaviour from them as all the extra commissions and customers losing money without SL means losses and no more commissions so shooting them in the foot ??


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## rcw1 (10 October 2022)

Razoredge777 said:


> Thanks but i already know all that and been a trader a while. My question was HOW do i use the buy/ sell platform to use it like a stop loss and say stock A is $1 and going up and i want to trail behind say 15% below and set a sell at 85c so if it starts to drop, i can automatically sell at 85 or 87 ect as it goes 1, 1.05 then reverses. Like a stop loss where you set < or > the price. My old platform has contingecy orders as well as buy/sell but they remove them and how can i protect my trading now?



Good evening Razoredge77,
Not sure of your platform, however, would have a Trading TAB.  Then go into a TAB what's commonly called Conditional Orders.
There is a function called trigger type, "Trailing sell".   -  
So, it is called a Trailing Stop Limit Sell Order:  Enter a trailing Stop Limit Sell Order .. say you have purchased 100 shares of ABC for $5 per share and want to limit your loss. You set a trailing stop limit order with the trailing amount 20 cents below the current market price of $5 or whatever you want.  

There are five other triggers too. 

If your platform don't have this feature, then time to go elsewhere.

Kind regards
rcw1


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## frugal.rock (10 October 2022)

Razoredge777 said:


> I already well ahead with checking out some others that offer around $10 min and low monthly fees.



Selfwealth has stop loss, $9.50 per trade (any value) no monthly fees. CHESS sponsored.


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## divs4ever (10 October 2022)

Razoredge777 said:


> Yes i realise that too but at least its there when you are away from the screen and if a slow crash like happening now, SL will work fine.
> So can i do this with reg Buy/sell buttons? or cant you set a lower sell price when SP is higher?




 that is one reason i do not trade , the internet here is too unreliable here , add in potential glitches  on the platform when there is heavy activity 

 you can set the price lower  but are likely to get the current ( higher ) price almost instantly


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## Razoredge777 (10 October 2022)

rcw1 said:


> Good evening Razoredge77,
> Not sure of your platform, however, would have a Trading TAB.  Then go into a TAB what's commonly called Conditional Orders.
> There is a function called trigger type, "Trailing sell".   -
> So, it is called a Trailing Stop Limit Sell Order:  Enter a trailing Stop Limit Sell Order .. say you have purchased 100 shares of ABC for $5 per share and want to limit your loss. You set a trailing stop limit order with the trailing amount 20 cents below the current market price of $5 or whatever you want.
> ...



Yeah the SL was there and trailing and all that was great especially for crashes and shorts which i loaded up now like Michael Bury so having the SL there is very helpful but i will complain to their head office, take it up the tail pipe, then find another platform !!


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## Razoredge777 (10 October 2022)

frugal.rock said:


> Selfwealth has stop loss, $9.50 per trade (any value) no monthly fees. CHESS sponsored.



Yes i will look at that one as it seems good value. Dont you pay to look at live data with monthly fee  even if not make a trade?


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## Razoredge777 (10 October 2022)

divs4ever said:


> that is one reason i do not trade , the internet here is too unreliable here , add in potential glitches  on the platform when there is heavy activity
> 
> you can set the price lower  but are likely to get the current ( higher ) price almost instantly



Yes that was what i was afraid of. Its doing you a favour with higher sell price but not when you expect it to go higher and trailing it for safety and theres no way except to sit there and set a line and sell if it drop. tedious like this Post i made but hmm!!

Anyway everyone here-   What about CMC or comsec for overall price and "customer experience"


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## divs4ever (11 October 2022)

i am on Commsec ( and Bell Direct )   now for some  reason i am on 'live data ' ( not REAL live data ) , but pretty close with each click/refresh of the mouse  ) without paying on-going fees on Commsec  ( 20 minute delay of Bell  unless i pay a monthly fee  or do 5 trades a month the previous month ) ( i am led to believe other budget customers on Commsec are on 20 minute delay, but i could be wrong  )

 i did think about paying for the data , but as mentioned elsewhere the internet can be very unreliable here  , my record is 47 minutes to load my banks ( not CBA ) LOGIN page  so i can login !! 

 so trading ( properly ) was never a real go , and Iress  was more like a disco strobe show ( when i tried that .. so unusable as well


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## Smurf1976 (11 October 2022)

Razoredge777 said:


> What about CMC or comsec for overall price and "customer experience"



Haven't used CMC but my experience with CommSec has been almost perfect thus far so I've no complaints about them.

Someone else might be cheaper but at least the CommSec platform has been reliable so I'm sticking with it.

The vast majority of my exits are via stops, that's intentional it's how the trading strategy works, and the orders have worked on every occasion except where the reason was due to the market itself. CommSec hasn't failed in that regard thus far. 

PS - Welcome to ASF!


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## Razoredge777 (11 October 2022)

Thanks, great advice as real experience trumps claims each platform makes of course trying to get your $$$!
I have never been on 2 or more platforms at same time so what happens to you hin and chess numbers,  do you keep same number for each share but diff account numbers for diff platforms or can you or diff numbers for each platform?


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## divs4ever (11 October 2022)

Razoredge777 said:


> Thanks, great advice as real experience trumps claims each platform makes of course trying to get your $$$!
> I have never been on 2 or more platforms at same time so what happens to you hin and chess numbers,  do you keep same number for each share but diff account numbers for diff platforms or can you or diff numbers for each platform?



 i have separate HIN numbers for each account  ( and CHESS ) ( am not sure you can merge them  unless you transfer all the shares into one portfolio  , but my holdings are on two different platforms , it may be different if you have two accounts on the same platform )


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## qldfrog (11 October 2022)

Razoredge777 said:


> Thanks, great advice as real experience trumps claims each platform makes of course trying to get your $$$!
> I have never been on 2 or more platforms at same time so what happens to you hin and chess numbers,  do you keep same number for each share but diff account numbers for diff platforms or can you or diff numbers for each platform?



different HIN for different platforms, and i have accounts (HIN) in name of myself,wife, join to try to clarify various strategy results etc
If this helps


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## Razoredge777 (11 October 2022)

Thanks, thats all been helpful.


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