Commsec: Is it possible to stop loss this way?

[Walrus111]

Could someone tell me whether it is possible to initiate a stop loss if a share price drops by 5% at any time, not just below what was paid? Example: If I paid $10 a share and it was now $20 a share is it possible to have an automatic sell in place if it drops to $19 (5%) and if the price keeps going up can that same sell option stay with the share so it sells whenever it drops by 5%? I can't see anywhere to set this up on my Comsec account. I've bought shares at good prices for a long time but have never been good at knowing when to sell and thought this might be a good way to improve my returns. Any help or comments much appreciated.

 

[skyQuake]

Could someone tell me whether it is possible to initiate a stop loss if a share price drops by 5% at any time, not just below what was paid? Example: If I paid $10 a share and it was now $20 a share is it possible to have an automatic sell in place if it drops to $19 (5%) and if the price keeps going up can that same sell option stay with the share so it sells whenever it drops by 5%? I can't see anywhere to set this up on my Comsec account. I've bought shares at good prices for a long time but have never been good at knowing when to sell and thought this might be a good way to improve my returns. Any help or comments much appreciated.

You can either set up the stop manually at $19 yourself, or set up a conditional order - Trailing stop for 5%. ie, that stop will trail the high water mark. If the share ever falls 5% from a high, you will get stopped out.
Have a look at ATR before you put in in though, could get whipsawed out...

 

[Trembling Hand]

What you need is a "trailing stop loss".

have a look here,

https://www.aussiestockforums.com/forums/showthread.php?t=14351

 

[Walrus111]

You can either set up the stop manually at $19 yourself, or set up a conditional order - Trailing stop for 5%. ie, that stop will trail the high water mark. If the share ever falls 5% from a high, you will get stopped out.
Have a look at ATR before you put in in though, could get whipsawed out...

Thanks skyQuake and Trembling Hand. So it's called a trailing stop. Great. Just got to find out about the ATR and being whipsawed. Still learning the lingo. Cheers.

 

[Trembling Hand]

Better still,

http://www.comsec.com.au/Public_FrameSet.asp?Page=HTools

 

[Walrus111]

Better still,

Thanks Guys. Glad that option is available and at a reasonable price for the service it's providing. Will add it to a couple of shares.

 

[Walrus111]

Thanks skyQuake and Trembling Hand. So it's called a trailing stop. Great. Just got to find out about the ATR and being whipsawed. Still learning the lingo. Cheers.

Just looked at the conditional trading section at comsec but can only see how to set fixed prices no trailing stop losses?