Good till cancelled vs. Stop

• 18 July 2008

• #1

S

stargazer

Joined

17 July 2005

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Hi all

If one buys a stock without a stop for say $1 and lets just say the stock goes to $1.30.

If then a sell at say $1.10 order is placed in the market as GOOD TILL CANCELLED just in case it comes back down.

Is this then pretty much the same as a Stop or conditional order of the same value.

Cheers
SG

 

• 18 July 2008

• #2

A

AlterEgo

Joined

24 May 2008

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Re: Good till cancelled vs Stop

Maybe I don't understand what you mean exactly, but if the stock is at $1.30 and you put a 'limit order' ('good til cancelled' or not) for $1.10, it will sell immediatley at $1.30

 

• 18 July 2008

• #3

S

stargazer

Joined

17 July 2005

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Re: Good till cancelled vs Stop

Hi

Thanks Alterego i understand now i was thinking it sells at the price you nominate but of course anyone prepared to sell at $1.10 will accept $1.30. My thinking was not correct.

Cheers
SG

 

• 18 July 2008

• #4

tech/a

No Ordinary Duck

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14 October 2004

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Re: Good till cancelled vs Stop

Im using IB.

When I place an order I always attach a bracket order.
Both can be altered during a trade with a GTC order.
The Bracket order allows me to set a stop---which I can rise or fall
and a Limit stop which i can do the same.

So in your case Star I would just raise the stop behind.
Its not triggered until hit.

 

• 18 July 2008

• #5

korrupt_1

Joined

23 September 2007

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Re: Good till cancelled vs Stop

hi stargazer

see if u can open an demo/trial a/c and test it out on play money