# Protecting profit?



## jim47 (29 June 2008)

Is there any way to protect a profit. For example, if I have made 10% on NAB but I still want to hold, and only sell when my profit goes below 10% like it did on Friday morning.

I'm using ETrade and work full time so I can't sit in front of a computer all day.

Thanks.

Jim


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## prawn_86 (29 June 2008)

*Re: Profit protect*

Not sure if Etrade offers it, but its called a trailling stop loss


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## tech/a (29 June 2008)

*Re: Profit protect*

You can do it with IB.

Keep saying it but this is one of the best platforms going round.
Once you set a bracket order attached to your buy you can set and re set your stop to trail up behind price.

Set it and go to work,all will be taken care of.
Be aware that slippige can and does occur.


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## jim47 (29 June 2008)

*Re: Profit protect*

"Be aware that slippige can and does occur"

What is slippige?


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## prawn_86 (29 June 2008)

*Re: Profit protect*

Actually spelt slippage, but it is when your stop loss (or any other order) does not get filled at the exact price.

EG - a heap of shares may get dumped on market pressing the price below your stop by 10c or so and then your stop executes. 

So basically your stps are not assured at the price (or %) you set them, but they should be around that mark


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## jim47 (29 June 2008)

*Re: Profit protect*

like NAB did Friday morning? about $1.50 in one hour!


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## So_Cynical (29 June 2008)

*Re: Profit protect*



jim47 said:


> like NAB did Friday morning? about $1.50 in one hour!




Yes...most likely to happen when the market "gaps" down on the open, usually 
due to movements on Euro and US markets.


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## tech/a (29 June 2008)

I'm meaning something completely different in context with Slippage and protection of profit.

I dont have live charts here and I wont be back at the office until tuesday.
I'll post an explaination then.


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## Family_Guy (29 June 2008)

Unless you are day trading, i would have thought holding NAB for the medium would be a good bet. No? Certainly i'll be topping up again.


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## kenny (30 June 2008)

Hi Jim47,

Etrade have trailing s/l's as part of their Conditional orders section.

https://invest.etrade.com.au/TradingTools/ConditionalOrders/Default.aspx

Slippage is definitely something you will have to consider.

Cheers,

Kenny


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## Miner (23 July 2008)

News Extract 


Not sure if there is any thread on NAB

However National Australia Bank has pulled out of talks to buy ABN AMRO's Australian and New Zealand unit from Royal Bank of Scotland, it said on Tuesday, just over a week after announcing it was in negotiations.


Cheer


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## madbull (24 July 2008)

Sorry to hijack the thread, but I too am a new user with a similar question about stop-losses or protecting profits? 

I tried to search for it but had no luck, just wondering if there is such thing or if anyone knows of an online broker with free conditional trading.

Right now I am with comsec and it's a hefty brokerage cost if my stops execute.  (i.e. 19.95 + $14.95 (upon execution))

Thanks in advanced.


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## MRC & Co (24 July 2008)

Interactive Brokers (IB) as stated earlier.

Low commissions, free conditional orders.

Cheers


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## madbull (24 July 2008)

Thanks for your reply mate, I had a look at IB.  I am still relatively new to investing and only had experience in the market since start of this year. 

Do you recommend a very inexperienced trader like me who will not actively day trade to use such broker or should I just stick with comsec?


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## nizar (24 July 2008)

MRC & Co said:


> Low commissions, free conditional orders.




.... and a pain in the a$$ to set it up.


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## stock nub (24 July 2008)

Does comsec have trailing stop losses?

I can find stop losses but i am not sure if they are trailing or are pre set at a certain price

Any help much appreciated


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## white_goodman (24 July 2008)

just out of curiosity is there a facility in commsec for normal stop losses?


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## Morgan (24 July 2008)

white_goodman said:


> just out of curiosity is there a facility in commsec for normal stop losses?




...just go to the "orders" tab, then "conditional trading- new trigger"
Before you can use a stop loss for the first time (as well as the other conditional trading options) you will need to read through all the terms and conditions then do a short online quiz to show that you understand what conditional trading is all about.


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## madbull (24 July 2008)

but comsecs stop losses are quite expensive to do.


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## white_goodman (24 July 2008)

madbull said:


> but comsecs stop losses are quite expensive to do.




expensive? does it cost money to put in stop losses?


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## madbull (24 July 2008)

Upon execution, it costs $14.95 + brokerage 
Up front, it costs $9.95 + brokerage.


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## white_goodman (24 July 2008)

madbull said:


> Upon execution, it costs $14.95 + brokerage
> Up front, it costs $9.95 + brokerage.




with the amount im playing with thats too expensive, im jsut gonna have to keep a close eye on it i guess


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## madbull (24 July 2008)

Yeh thats right, but the problem is without stop losses you can allow your emotion to affect your trading, especially if you're inexperienced like myself.


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