Stop Loss Orders - CSE

shyamfdo · 1 Stop Loss Orders - CSE Mon Sep 12, 2011 11:17 pm

shyamfdo

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Hi all,

Does CSE allows Stop Loss Orders, sell market-if-touched order or buy market-if-touched order ?

Are there any order like above is existing in CSE ?

Antonym · 2 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:29 pm

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@shyamfdo: I know exactly what you are referring to. However, unlike other more sophisticated markets, the CSE does not have the facility to place such orders.

shyamfdo · 3 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:32 pm

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Thanks Buddy, It would have been much easier and time saving otherwise.
Hope CSE will reach for it.

Thanks for reply buddy.

kav4 · 4 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:33 pm

kav4

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I also like to add something to the above question.

In Direct FN TWS help, it is mentioned that we can place Advanced Orders.
It says

Place Advanced Orders

DirectFN TWS gives you the facility to add to orders with various conditions (also called Advanced Orders), thereby providing you the flexibility and cutting edge over other investors. When you place an Advanced Order it will not be executed immediately.

Once you set conditions for your orders, DirectFN TWS monitors the markets real-time and the instant it spots a buy or sell opportunity based on your trading strategy, the order is pushed through to exchange. Through this means you can literally sit back and watch it execute your trading strategies for you.

To place a Conditional Order:

1. Do one of the following to open the New Order window:

· On the Trade menu click Buy or Sell as applicable in the Place Orders section.

-or-

· Right-click on the symbol in the Full Market / Watch List window, point to Trade and click Buy or Sell as applicable.

-or-

· Right-click on the symbol in the Ticker, point to Trade and click Buy or Sell as applicable.

2. Fill the New Order window with relevant details.

3. Click the Advance tab.

4. In the Condition section, select the required conditions. E.g.: Last Price Greater than or Equal Rs. 125.50.

5. Next, select the validity period using the Expire list. E.g.:1 day.

6. Click Buy or Sell as applicable to place the order. A message opens inquiring whether to place the order.

7. Click Yes.

But we don't have that Advance tab in the Direct FN TWS which we have. I have checked this with Capital Trust & Asia Securities both. Does anyone know how to activate this feature?

chamith · 5 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:39 pm

chamith

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U can put such orders using GTC (Good till Cancel), But if the transaction is not executed in 5 market days, the order will automatically be deactivated.
You can use this as a stop loss tool.

kav4 · 6 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:43 pm

kav4

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Thanks for the quick answer. But when placing the GTC order, there no option to place conditions. Please explain if possible.

Antonym · 7 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:53 pm

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chamith wrote:U can put such orders using GTC (Good till Cancel), But if the transaction is not executed in 5 market days, the order will automatically be deactivated.
You can use this as a stop loss tool.

As the name suggests, 'Stop Loss orders' are placed to cut your losses.
For example: You have just bought a share for Rs 100. You might place a Stop Loss Sell order at less than the current market price (say, at Rs 90). This order gets 'activated' only if the price of the share drops to that level.
Does any broker in SL have software that supports such a facility? I don't think so.

chamith · 8 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:59 pm

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Antonym is right, its not by definition a "stop loss" function. But if you want you can use this as a stop loss to do the same job. Kav4 you just have to set a price tag only. Say if the price drop to xx then SELL yy amount of shares. Just put you 'stop loss sell price' and the quantity and place the order.

zen · 9 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:09 am

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I asked the same question last month but nobody gave me a satiafactory answer.[url=forum.srilankaequity.com/t8301-how-not-to-end-up-like-this]forum.srilankaequity.com/t8301-how-not-to-end-up-like-this[/url]

For those of you who don't know this, it's actually two orders for the same share.
If you buy at 100 you place a sell order at 115 and 95. When the share get to either of these prices, the transaction will happen at 95 or 115 and the other sell order will be automatically cancelled.
The aim is to make a preplanned profit or a loss only and thereby avoid the risk.

zen · 10 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:17 am

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Ideally what we need is two mutually exclusive GTC limit orders for the same stock.

kav4 · 11 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:17 am

kav4

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But there's a problem.

Let's say I bought @ 100/- & share looks like going down. Let's say it's @ 98/- now. I want to sell my quota if the price drop to 90/- to avoid further loss. But if I place a sell order @ 90/- now, it'll be match within seconds as my sell order is for 90/- & the other market sell orders are for 98/-. So this will not work.

Method should be the software monitor the price movement & place my order @ 90/- if the price reaching near that. May be when the sell price is 90.10, the software should place an order for 90/- to avoid the further loss.

I think this need not support by CSE. Since the software (Direct FN or other) can see the order book, it should be able to place the order @ 90/- as soon as it see the lowest sell order is 90.10 or 90/-. This should be a feature of the trading software not a feature of CSE.

As per my understanding this is what the help in Direct FN TWS referred too. As per that ther software is capable of doing the trick. But may be the version provided by our brokers not have this feature.

Am I correct? Any idea?

Last edited by kav4 on Tue Sep 13, 2011 12:22 am; edited 2 times in total

chamith · 12 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:20 am

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Simply you cant put 2 sell orders for the same holding at different prices.

zen · 13 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:27 am

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@Kav4- yes that's right. Sorry I missed that part. The system put the sell order when the market price actually get to 95 or 115. So there are no two selling orders at any given moment.

kav4 · 14 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 7:26 am

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Good morning to all. Is there any ideas of doing this?

shyamfdo · 15 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 9:18 am

shyamfdo

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@Kav4: You are exactly correct i think.

@chamith: You can never do it by putting two GTC orders. It is different and thats why there are conditional orders in markets.

kav4 · 16 Re: Stop Loss Orders - CSE Wed Sep 14, 2011 12:19 pm

kav4

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I asked this from directFN about this. This is their reply.

The advance order capability that you have inquired about is not supported by the current CSE Engine which is why the option has been disabled on the TWS. The TWS software already has the capability to place such orders and as a result as soon as the CSE upgrades their system we will enable that option. Thank you for your inquiry.

Best Regards
Vikram Radhakrishnan
Business Analyst - DirectFN

RealViewer · 17 Re: Stop Loss Orders - CSE Wed Sep 14, 2011 2:38 pm

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this is CSE
ha ha ha....

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Stop Loss Orders - CSE

1 Stop Loss Orders - CSE Mon Sep 12, 2011 11:17 pm

shyamfdo

2 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:29 pm

Antonym

3 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:32 pm

shyamfdo

4 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:33 pm

kav4

5 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:39 pm

chamith

6 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:43 pm

kav4

7 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:53 pm

Antonym

8 Re: Stop Loss Orders - CSE Mon Sep 12, 2011 11:59 pm

chamith

9 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:09 am

zen

10 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:17 am

zen

11 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:17 am

kav4

12 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:20 am

chamith

13 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 12:27 am

zen

14 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 7:26 am

kav4

15 Re: Stop Loss Orders - CSE Tue Sep 13, 2011 9:18 am

shyamfdo

16 Re: Stop Loss Orders - CSE Wed Sep 14, 2011 12:19 pm

kav4

17 Re: Stop Loss Orders - CSE Wed Sep 14, 2011 2:38 pm

RealViewer

18 Re: Stop Loss Orders - CSE

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