Im a complete beginner to this, but am just trying to figure out how after buying some shares, how you can set stop and limits to the trade, cant figure out where the buttons are to activate this stop and limit after youve bought the shares,
I have experimented with the Limit and Stop thing in the Review order window, and but you have to wait untill those conditions occur before it activates, whereas i just want to buy then set the lower and higher values.
After buying the shares you will need to tap sell, change the tab from market to stop and set the trigger point that it will create a market order for you (or stop limit if you want a trigger point and to specify a minimum to make a limit order for you)
If you use market or limit it would just make the order straight away, so make sure it’s on stop or stop limit if you are wanting it to trigger for you at a certain price.
It’s always worth giving it some breathing room from the current action so if it’s moving between 50-60 don’t set it at 49, set it at 40.
I would place price alerts at 50 and at 60 so it can alert me to the change in momentum. That way if it dipped 50 I can decide if I want to exit or let it play if I think it’s just a short blip and will head back up. Likewise if it’s breaking 60 I can see if it’s a breakout.
Once the action clears into say 60-70 and it’s constantly in that range then tap on it again and change the stop from 40 to 50 etc. Annoyingly in the Invest/ISA you’ll need to move the stop up yourself, CFD has trailing stops which will follow the action.
The more volatile and lower value the stock the further you want to place a stop, if at all, as you can easily be taken out when you didn’t want out.
Hi , thanks for your informative response, im trying to folow your steps and I think i have a basic undertanding of what you were describing, like all you have to do is to just sell once youve bought with the limit and sell conditions applied. Ive created some scrrenshots of what ive learned so far would be grateful if this is correct !