Stop Loss

[Huskeez]

Hey guys im with Asb securities, no one there is answering the phone grr, when entering a stop loss sell with their platform, say for eg. I brougjt 100 shares of XYZ @ $1.00 and I want my stop loss to be .97c what do I enter. It asks for a set trigger price and a set limit price? Do I enter .97 for both of these. Its the set limit price which has me confused me

[gonzo56]

Just to add to that Q, does direct broking have a stopp loss option for NZX stocks?
I don't believe it does. If someone knows a way to do it, please share :)

[Banksie]

From the ASB website:

Stop Loss: Indicates that a sell order should be activated if a share trades only at the selected price. Setting a stop loss price enables you to indicate a price at which a sell order should be activated and placed on the market. The stop loss order will only be 'triggered' if the share in question trades at the indicated price. A limit price can also be indicated which means once the 'trigger' has been activated, the shares will be sold at no less than this limit price. The stop loss order facility is aimed at traders who believe that if the price of a stock drops to a certain level, the share price will continue to fall. The stop loss price is always below the current market price.

My understanding is: if .97 is your trigger price, how low are you prepared to go to dump the shares? .95? If so .95 is your limit price.

(source: https://www.asbsecurities.co.nz/section335.asp)

[Huskeez]

Awesome, cheers Banksie :-D