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  1. #1
    The Member
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    May 2002
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    Default National Bank and Stop losses

    Ive been using National Bank online share trading but damned if i can work out how set stop losses, i have a feeling they dont offer this option.

    Needless to say this hasnt helped me save my precious money over the past few months

    Can anyone enlighten me, or offer me an alternative company that i can switch to so that i can have my shares sell automatically. I tend to just watch them fall otherwise

  2. #2
    Legend shasta's Avatar
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    Sep 2004
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    Default

    Quote Originally Posted by Grand Uber View Post
    Ive been using National Bank online share trading but damned if i can work out how set stop losses, i have a feeling they dont offer this option.

    Needless to say this hasnt helped me save my precious money over the past few months

    Can anyone enlighten me, or offer me an alternative company that i can switch to so that i can have my shares sell automatically. I tend to just watch them fall otherwise
    Might pay to ring & ask them whether they have the facility & if not, why not. (I would have thought this was mandatory!)

    ASB Securities have these facilities, even for the DYI online types (like myself) & if you get the buy/sell contracts by email, orders under $30k (NZ or AUS) only attract a $30 brokerage fee per trade.

  3. #3
    The Member
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    Default

    I was planning on giving them a call today and doing it but didnt get a chance. Do you just set them online with ASB or do you have to have to make a phone call?

  4. #4
    Legend shasta's Avatar
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    Default

    Quote Originally Posted by Grand Uber View Post
    I was planning on giving them a call today and doing it but didnt get a chance. Do you just set them online with ASB or do you have to have to make a phone call?
    You can set up "stop losses" - also with a trigger value*, all online.

    * To stop a premature exit if say some noddy sold 1 share 20% below market value, ie chart painting.

    ASB Sec aren't the greatest online broker but are cheap & compentent.

    I've rung & hounded them about there research section over the years & they do listen, it's much better now!

  5. #5
    action-reaction arco's Avatar
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    Dec 2001
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    Default

    Grand Uber

    I have used ASB for share trading and no complaints from me.

    I did have a moan at them re the number of contracts they send out per transaction :mad:.....sometimes if I sold a large number of shares I would get a dozen or more contracts for the same share sale, and all delivered in their own separate post paid envelope. Their post bill could be drastically reduced IMO. Not sure if its the same now.

    arco
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  6. #6
    Legend shasta's Avatar
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    Quote Originally Posted by arco View Post
    Grand Uber

    I have used ASB for share trading and no complaints from me.

    I did have a moan at them re the number of contracts they send out per transaction :mad:.....sometimes if I sold a large number of shares I would get a dozen or more contracts for the same share sale, and all delivered in their own separate post paid envelope. Their post bill could be drastically reduced IMO. Not sure if its the same now.

    arco
    Arco

    They have changed this system & are doing it via email.

    I also believe they will complete the contract before sending it?

  7. #7
    The Member
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    Default

    Sounds good, doesnt look like national bank are offering the service online which seems a bit silly.

    Ill be swapping over next week

    cheers guys

  8. #8
    Junior Member trader-jim's Avatar
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    Do ASB let you have an A$ bank account for settlements and divs. National used to but not now. Saves all the exchange rate fees
    Most people are too busy earning a living to make any money.

  9. #9
    Legend shasta's Avatar
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    Quote Originally Posted by trader-jim View Post
    Do ASB let you have an A$ bank account for settlements and divs. National used to but not now. Saves all the exchange rate fees
    Yes you can have foreign accounts in $AUD, $US or $UK

  10. #10
    SRV is a God STRAT's Avatar
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    Default

    Quote Originally Posted by Grand Uber View Post
    Ive been using National Bank online share trading but damned if i can work out how set stop losses, i have a feeling they dont offer this option.

    Needless to say this hasnt helped me save my precious money over the past few months

    Can anyone enlighten me, or offer me an alternative company that i can switch to so that i can have my shares sell automatically. I tend to just watch them fall otherwise
    I will have a guess here. I use DB who offer stop loss orders on the NZX but not the ASX. I imagine AS are the same?

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