Stock purchase automation and using stop-limit? How to do this? (Investing)

Hi guys, I’ve read a similar question here but the answers are not 100% clear.

Let’s just say there’s a stock that’s currently at $100.

I would like to buy it if it reaches $90, but let’s say I’m going to a jungle for 2 days with no internet and I want to set up the purchase before I go.

So I would like to:

  • Purchase the stock if it reaches $90

  • However, if the stock instantly plummets when I purchase it, I would like to sell at $80.

  • Otherwise keep the stock

How can this be automated?

I’m looking at the Stop Limit interface (screenshot below)

Where do I put my $90 price?

And where do I put my $80 stop loss?

The first section is asking for a price above (why above?) the current price of $100. This will convert the order to a limit order. What exactly is this?

The second part asks about how much I would like to pay per share. I’m guessing this is where my $90 goes?

Where do I put the stop loss of $80?

And what is the point of setting a price above the current price like it’s asking me to?

I hope I’ve explained my problem clearly enough. I’d just like to automate everything in my bullet points.

I’ve also had a look at the stop section (screenshot again below) to try and understand it a bit more: “Set the price above the current price that converts your order to a market order” So the share is $100, I can only use this feature if I want to automatically purchase the share above $100? I don’t even know why somebody would use this feature! But I’m new to this, maybe some people like to buy high sell low, who knows :slight_smile:

Thanks in advance :slight_smile:

1 Like

@pipo There’s currently no way to place such order as you’ve described. What the stop limit does is you set a level that when it’s reached, it triggers a limit order to buy a security for a certain price or better.

We’ll be adding additional order types in the future so we’ll probably have more complex ones that’ll do the job.



Could you explain this section if you don’t mind for the stop order (my second screenshot):

“Set the price above the current price that converts your order to a market order”

Why would somebody wait for a share to increase in value before buying? Is this function for those who catch an upwards trend?

[…] The buy stop order can serve a variety of purposes with the underlying assumption that a share price that climbs to a certain height will continue to rise. […]