Commsec conditional orders - anyone use them?

[cuttlefish]

Does anyons use the conditional order facility that comsec provides? (stop losses, resistance sells, supporting buys etc.)

If so any comments good, bad or otherwise?


Are they reliable? Do they get enacted quickly enough once triggered?


thanks for any info.

 

[Profitseeker]

Does anyons use the conditional order facility that comsec provides? (stop losses, resistance sells, supporting buys etc.)

If so any comments good, bad or otherwise?


Are they reliable? Do they get enacted quickly enough once triggered?


thanks for any info.

I use westpac's and imagine that they would be fairly similar.

I actually find them to be extremely usefull and good especially if you are trading a stock or don't have the time to stay glued to the screen tracking your portfolio.

They are extremely reliable in terms of if they get triggered then your order goes to market (Can you imagine the consequences and law suits if they failed!). However the tools do have a dependancy on how quickly the market is moving. If the share gaps over your stop loss or profit take then although your order will still go to market it is unlikely to be fufilled.

 

[ggmaximus]

Problem with the comsec con order is that you have to wait for T+3 to place them with protrader or web & there phone service sucks.

 

[cuttlefish]

Problem with the comsec con order is that you have to wait for T+3 to place them with protrader or web & there phone service sucks.

sorry ggmaximus I don't follow - when you say wait for T+3 to place them what do you mean? (I know what T+3 is just don't see how it relates to conditional orders).

 

[MichaelD]

Problem with the comsec con order is that you have to wait for T+3 to place them with protrader or web

Not in my experience where I would purchase and then immediately put in a conditional stop loss order with no problems. I stopped using intraday stops several months ago, however, so they may have changed.

When I did use them, they always triggered when expected, but there is always the risk of a gap over the maximum limit price you can set.

 

[cuttlefish]

yeah I was able to put a conditional order today on shares bought yesterday so doesn't seem to have a T+3 restriction if thats whats meant by it.

 

[blinkybill]

Does anyons use the conditional order facility that comsec provides? (stop losses, resistance sells, supporting buys etc.)

If so any comments good, bad or otherwise?


Are they reliable? Do they get enacted quickly enough once triggered?


thanks for any info.

I use commsec conditional orders but not very often. I'm happy with the way they work and I haven't had any problems so far

 

[ggmaximus]

Umm, I use a margin loan so I wonder if thats why..
Probably is because I have the same issue trying to write covered calls on shares I've just purchased with the margin account.