Stop losses ...ASX

[AliceSaville]

Alice - Any progress on being able to place stop-loss orders? Would be good to have these in place before the next leg down.....

Hi mattyroo,

I've had some initial discussions with Management and our IT team, but at this stage we need to complete some existing projects before we can give total concentration to setting up ASX stop loss orders.

I'd love to be able to provide a timeline on this, but it's too early to say and I'm not fond of making false promises!

Stay tuned though - we've got some exciting stuff coming up.

Thanks for your patience and support,
Alice

[STRAT]

Hi mattyroo,

I've had some initial discussions with Management and our IT team, but at this stage we need to complete some existing projects before we can give total concentration to setting up ASX stop loss orders.

I'd love to be able to provide a timeline on this, but it's too early to say and I'm not fond of making false promises!

Stay tuned though - we've got some exciting stuff coming up.

Thanks for your patience and support,
Alice

I second Mattyroos suggestion for ASX stop losses. That would make life a lot easier for us part timers.

Exciting stuff coming up?

May I suggest you start your own thread for this. It would make it easier to find.

[mattyroo]

Hi mattyroo,

I've had some initial discussions with Management and our IT team, but at this stage we need to complete some existing projects before we can give total concentration to setting up ASX stop loss orders.

I'd love to be able to provide a timeline on this, but it's too early to say and I'm not fond of making false promises!

Stay tuned though - we've got some exciting stuff coming up.

Thanks for your patience and support,
Alice

Alice, Still no exciting stuff, let alone the stop losses.

Maybe it is worth the hassle of setting up another trading account if DB can't get their A into G!

[AliceSaville]

Alice, Still no exciting stuff, let alone the stop losses.

Maybe it is worth the hassle of setting up another trading account if DB can't get their A into G!

Hi mattyroo,

Thanks for taking the time to write to me.

I wish I could deliver the good news you're after, but I simply can't at this point in time.

The "exicting stuff" that I referred to back in October is very close to fruition though, and I can assure you that the wait will definitely be worth it.

Merry Christmas,
Alice

[Steve]

Alice, Still no exciting stuff, let alone the stop losses.

Maybe it is worth the hassle of setting up another trading account if DB can't get their A into G!

Surely if it was that important to you, you would have already gone ahead and done something about it?

Anyway, Alice are you able to give a hint as to what the exciting stuff is?

[davidm]

Hi mattyroo,

I wish I could deliver the good news you're after, but I simply can't at this point in time.

Hi Alice,

Any update on the development of ASX stop-loss orders at Direct Broking?

Davidm

[AliceSaville]

Hi Alice,

Any update on the development of ASX stop-loss orders at Direct Broking?

Davidm

Hi davidm,

Thanks for your query.

Unfortunately we're facing an array of technical restrictions that need further investigation before we can offer an ASX stop-loss facility.

Apologies for any inconvenience this causes, and for the lack of good news!

Cheers,
Alice

[jennym]

there are a few things that really are a minimum that you need and asb provides them:
ability to place a stop loss
an account in the currency of the bourse that you trade in, eg aud for asx.
live watchlist.
direct market access - you place an order and it is instantly on the queue.
some sort of a view of the buy and sell stacks(depth).

asb is very clumsy but it does these things. it doesnt allow you to buy untill you have the money in your account though. it is the best of a bad lot in nz. i have transferred most of my stuff there, just a couple of long term holds left.

i still have an acct with nbnz which operates through direct brokers and today, the last nail went in the coffin. a couple of times a year i have a go at a day trade. i am not a natural but i would like to be hence the couple of times a year thing so as not to loose too much.
today i had a go at ete on an announcement and bought in at 16 and ended up selling at 16.5(not a natural is right) for a profit of $50 aud after brokerage is taken out. i ended up with a $20 loss in nzd after they charged exchange rate fees etc etc. as far as i am concerned this is simply a scam. (i would have done this on asb but not enough aud at the time - this can be a problem)

asb is asb bank

[AliceSaville]

there are a few things that really are a minimum that you need and asb provides them:
ability to place a stop loss
an account in the currency of the bourse that you trade in, eg aud for asx.
live watchlist.
direct market access - you place an order and it is instantly on the queue.
some sort of a view of the buy and sell stacks(depth).

asb is very clumsy but it does these things. it doesnt allow you to buy untill you have the money in your account though. it is the best of a bad lot in nz. i have transferred most of my stuff there, just a couple of long term holds left.

i still have an acct with nbnz which operates through direct brokers and today, the last nail went in the coffin. a couple of times a year i have a go at a day trade. i am not a natural but i would like to be hence the couple of times a year thing so as not to loose too much.
today i had a go at ete on an announcement and bought in at 16 and ended up selling at 16.5(not a natural is right) for a profit of $50 aud after brokerage is taken out. i ended up with a $20 loss in nzd after they charged exchange rate fees etc etc. as far as i am concerned this is simply a scam. (i would have done this on asb but not enough aud at the time - this can be a problem)

asb is asb bank

Hi jennym,

Thanks for your comments.

I would like to clarify the following points.

- Due to technical restrictions, Direct Broking does not offer a facility for Australian stop loss trading. There is a stop loss facility, however, for New Zealand shares.

- Direct Broking currently provides a Multi-Currency Account to be used in conjunction with international share trading.

- Direct Broking clients get access to live depth (NZX and ASX) if they have completed an online trade in the last 90 days.

It pays to consider currency fluctuations when you are trading Australian shres and unfortunately, I suspect the exchange rate did not work in your favour when these trades were conducted and settled. The standard brokerage charge on Australian trades (placed via National Bank Share and Bond Trading) is AU$29.50 so if you would like to discuss further, please ring the National Bank Share and Bond Trading customer service line: 0800 88 55 64.

Thanks again and kind regards,
Alice

[arcticblue]

Alice, how do I set up a stop loss for my NZ shares?

Thanks