Hi
Having lost plenty of money on this platform due to share price dropping below purchase price, I once queried if I could add some protection of capital by setting up a sell order at or just above purchase price. I was told this could only done for the day. Even advice in "help" quotes:
What types of order do you offer for share dealing?
We offer several types of orders:
Limit execute & eliminate – an order which executes as much of a trade as possible at a specified market price. If there aren’t enough shares available at the specified level to fill the order, the maximum possible number of shares are executed and the rest of the order is cancelled.
Limit day – an order which executes once the market price reaches a specified level. If it isn’t filled by the end of the trading day, the order will expire.
Market day – an order which executes immediately in full if enough shares are available. If not, the maximum possible number of shares are executed and the rest of the order remains outstanding until the end of the trading day. This order type is unrestricted by price.
Stop market day – a market day order which executes in full when a specific price (the stop level) is surpassed. If there aren’t enough shares available, the rest of the order remains outstanding until the end of the trading day. This order is often used for locking in profits or limiting losses.
However there is also the option of Stop Market - GTC & Limit- GTC. Do these last beyond a day and if so for how long? Anyone know the difference and the best for my situation described above, I confirm this is for a share dealing account? I'm not finding much in help other than an unanswered question from April: Thanks in advance.
Posted April 20
Hi, Just wanted to know the GTC duration on a stop market? Looking to trade on on the share trading platform, can I leave this long term? Several years?
Also would like to know the difference between Limit-GTC and Stop Market-GTC
Thank you Ajay
