Setting a stop loss order through Commsec international trading screen

[flurbius]

Hello,

Is there anyone familiar with the commsec international trading screen, could you explain how to use it to set an order to sell shares when the price falls to a certain level. I understand the theory of what Im trying to do but Im not sure how to convey that to the commsec website.

Im new to this forum and to trading please be gentle.

 

[flurbius]

OK I think I have worked it out, so I will post here how I think it works.

most of it is fairly obvious - such as Quantity is the number of shares and Symbol is the stock code, the ones I wasnt sure about were:
Order type which is 'stop-limit'
Stop price which is the price to start selling at (should be below the current market price)
Limit price which is the price below which you do not want to sell.

 

[Austwide]

"Limit price which is the price below which you do not want to sell."

That's the way I saw it and put in a sell order. The sell failed and asked why. This is not commsec but I assume all terminology would be the same. The reply was a bit unclear but I treat it as meaning the Limit is the sell asking price. I usually sell at market because when I want it sold I want it sold but tried a Limit to cover a market crash with massive overselling.

"There is a trigger price and a limit price.

With the trigger price, you set that price and if the stocks drops to that level it will send the order into the market, it wont sell at that price it will only send the order into the market. Once the order is in market then its just like a normal sell order, so your limit price will apply if doing a limit order.

Of course you could do market then limit order in which case that would apply to your sell once the trigger price is met.

For the below order, it was triggerred at 0.047, then once in market your limit price of 0.03 becomes applicable, however that price was deemed too far from the market price by the ASX."