I've done a search on the forums for details on conditional trading. I could find an answer to my question.
I've also done the 5 question test on CommSec to allow me to use conditional trading (passed - yay!).
Basically, I'm wondering if it will CommSec conditional trading actually provide the service that need.
Here is what I want to do: If stock XYZ is trading at $1 and I want to purchase it at $1.50 (i.e. confirming a trend) then I select the 'rising buy option' in CommSec to purchase that stock.
But what if I also want to include a stop loss at $1.25?
And what if I want to pull out at a resistance point of $2.20??
Basically it seems that I want to engage a 'rising buy' and once that is engaged, i want a 'falling sell' as well as a 'rising sell'.
I guess if Commsec can't do this, then I'll just have to monitor the stock and wait to purchase it at around the $1.50 mark and engage a 'falling sell' condition. One purchased, I assume I can enter a sell price on $2.20 and just wait, right?
Of course if anyone knows of a trading platform that will allow these options without too much more cost, that would be great!