Hi,
Does anybody know which online broker can do stop loss order?
I am using HLeBroking and I can't do that.

For example, if current price is 2.50, and I want to sell the stock to cut loss at 2.30, I would like to key in stop loss order at 2.30 so that I don't have to monitor it consistently.
If I use HLeBroking and enter 2.30, the order will be executed immediately because the system treats that as my selling order, not a stop loss order.

Appreciate if anyone has help on this.

Thanks.

Obviously if u do it urself u cant lar...

U can use broker service, not handled by yourself ofcourse.

So u need to pay service fee to the broker.

But i wonder whether Maybank2u online has that?

Nope, Maybank also doesn't have that..
Actually for online broker in US, this is a very basic feature, I just wonder why Malaysia brokers don't provide that...

Because Malaysia still depend on human to key in the order and unlike US whatever you input to your PC straightaway input to the main system itself I believe.

SL don't think it apply to KLSE here. Others financial investment like FUture, Forex and Option is a basic to have it....Maybe is part of control for sort selling.

Hmmm.....this is actually an important feature for risk management because if if you are not able monitor your stock every hour, it can be dangerous if you miss your stop loss price especially for volatitle stocks or warrants...

Most local online portal don't have this kind of feature, but I came across one portal that can inform you (through handphone/email) when the pre-set price (both buy and sell price) is reached.

do you mean that it would sell it off at 2.30 straight away? shouldn't it be queued until that price has been matched for it to sell.

im using cimb itrade btw, if im planning to sell it off at a certain price, i just put the price and it gets queued up, of course if that seller's price is matched then its sold la, i dont have to monitor it anymore after i have keyed in the sell order.

of course by the end of the day if it's not matched it doesnt go through la..and yea, they do have sms service also to the phone when a certain price of the stock is hit..

No, what the TS means is not like that.

What TS means is like you bought a share at 2.50, but if it breaks down 2.30, then will trigger to cut loss and sell at 2.30. If not will hold it.

What is TS? You mean that it will automatically place a sell order once the stock price fall to the stop loss price that you set earlier? Whether the order is matched or not is another issue. That would be great.

The closest thing i do now for risk management is to subscribe to OSK stock alert, which is operated by third party company Micro Kiosk. They will send you a message alert whenever the stock price fall to stop loss price. Then you would have to make decision to either hold or sell it. Each message costs RM0.50

i see..so basically you can set a cut loss option so that you the system automatically sells off la when the buying/selling price is at that point.

sounds cool, but yea you could use the sms service instead, but wouldn't that be too late either unless you set the stock price to fall around 10cents or 20 cents higher than your cut loss point.

wonder if they will create such a feature for online trading.

I think our online broker is still not matured like other countries yet..in countries like US, their online broker even provide charting and technical analysis tool and their brokerage is far far more lower than us...

majority of brokerage firms uses the same online trading application,which is provided by N2N

you can park higher to sell,but cannot lower to sell.
If you do that,your order will be taken as a market order.

Same thing as a buy order albeit its the opposite,can park lower to buy but cannot park higher to buy.
So,if you are planning to buy a stock automatically when the price breaks a level,you can't

broker firm terminal cant place stop loss order, not to say on9 system.....
our system isnt mature,
and until now, the bursa quote still havent support vista, all broker firm's terminal must use winXP...
and what i hear is bursa will implement stop-loss and some other feature in this year, but who know when.....
just face it, endure it.....

from what i understand, stop loss order hasn't been implemented for securities yet and it should be in the pipeline... i think stop loss order is currently in futures trading though.

i think the SMS service simply reminds you only, doesnt automatically trigger a sell instruction. am i right?

ya, but even that, we have to log on everyday to give instruction on buy/sell, it cant be done automatically, thats the problem.

if there is a system that can sell/buy at target price everyday until order is done would be great.

another myth in relations to stop loss, in times of volatility or panic sale even if a stop loss is inputed you might not be able to get the price you want and may have to intervene manually...

yes,i believe the N2N platform do have a "good till date" feature where it parks your order(buy/sell) at a specific price until a date(max is 1 or 2 months i think)

Yes & No.

Yes: N2N system has the 'good till date' function

No, you can't apply on stop loss situation. Imagine, now the share is 2.00, you want to stop loss at 1.60. How? you key in 1.60 to sell? you become 'water fish' then, so wrong leh, can't apply.

The only way I can see it working is an at-or-below 2.30 price order, because you can't really do a fixed 2.30 order.

So, at 2.30 or below, the trigger to sell happens. But what is below? Some shares can drop 50% or more if there is a rumour or analysts don't like the earnings. So do you still sell at 1.15?

For this to work, I think you need the trigger, plus a person (broker) to review and action it.