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.

I understand your second part, but what you mean by "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." Mind to elaborate more?

I mean you cannot say sell at 2.30 exactly, can you? Because there is very little chance the price is going to stay at 2.30 exactly long enough for anyone to do anything.

So it can only be 2.30 or below.

LOL have you even used an online brokerage ? most of them have charts, and tons of info for fundamentals traders

I always use online trading.
The so called charts are basic charts.
You know what are technical charts?
Those with indicators like moving average, bollinger bands, OBV, RSI, etc..
I don't think there is any online broker which provide that...

This post has been edited by okk: Jan 26 2008, 04:45 PM

Um.. there's RHB Invest. I think they've got everything.

Okok, it is much clearer now.


Even RHB has, you can't think of many stock broker which have the same features, don't you? They are still improving slowly. okk argument is still valid. Our online broker is still not matured like other countries yet. Slowly lar, Malaysia Boleh punya. What to do? Just wait for another 2-3 years, haha!

This post has been edited by Si|enCer: Jan 27 2008, 09:47 AM

Hi OKK, i find some info which might be helpful to you, though not complete.

http://www.shareinvestor.com.my/

Thanks
Actually what I need now is the stop loss order thingy coz for technical charts, I am using Businessweek website to get it, which is quite comprehensive already.

Online trade still in infancy period for local investment house. Although it will improve overtimes, personally think the progress is still relatively slow.

http://www.bursamalaysia.com/website/bm/tr...sentationPO.pdf
(refer to slide number27) well in fact when the new trading engine is launch..which in the near future i suppose..there will be stop order available

This post has been edited by dEviLs: Jan 28 2008, 10:45 AM

Thank you for sharing the interesting site.

I doubt Bursa is going to introduce the new system sooner than expected because for years the stock brokers are restructuring and i do not think they have the capacity financially to invest heavily into new computer systems. They just manage to make back some money a few years ago. They also have to raise funds to buy other smaller co and setting up branches. In future , they have to fight hard for businesses. In fact, some sold off their buildings and rent back.

A good new system also has to depend on telecom fast lines ( if slow like the internet lines) , everything will be choked up. Bursa cannot afford down time like the banks do ( cimb, hong leong ). Even STI suffered some set backs a few months ago. The new system has to be re tested and trial runs for a long time before the actual implementation. It can be out dated too if taking too long to test. Remember, online trading is an internet based system. How to implement such a new system if our internet is so slow and number of people using online is not that many.

When CIMB merged with SBB, in fact there were many off line days because computer people have to know each other computer system well before doing the actual talking.

Bursa is good at preparing the blueprints ( copy, cut and paste ), but slow on actual implementations.

Just my 2 sen opinion. Do not hope too much.

This post has been edited by SKY 1809: Jan 30 2008, 03:35 PM

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