Cheapest method of applying a stop loss?

I bought some shares and there doing well but I work offshore and can't always access the Internet! I'm holding long term but need an automated sell option if the market reaches certain levels.
Commsec cost $82 a month! Anything cheaper that does the same thing??

I've got about $75k of my own money in that's currently worth $87k

Any suggestions appreciated.

Re: Cheapest method of apply a stop loss when you don't have Internet access?

Ib
It's free
Worth the hassle to setup

Re: Cheapest method of apply a stop loss when you don't have Internet access?

Bell direct also has free stops, a bit easier to set up than IB (though i too recommend IB)

Anything but commsec

Re: Cheapest method of apply a stop loss when you don't have Internet access?

Can i move the shares i already own into and IB account and set up the stops? Or would i have to sell them, put the funds in an IB account and re buy the stocks through IB.

Re: Cheapest method of apply a stop loss when you don't have Internet access?

You can transfer shares but it will complicate an already complicated setup.

Most people i know set up the account liquidate the position and immediately buy it/them back.
Of course if you need the capital to set up the account you have to liquidate and capitalize the account first.
Takes a few days.

Re: Applying a stop loss when you don't have internet access?

Are you sure theres no fees??

taken from the diabolical fine print.....

Monthly Activity
As IB caters to active professional traders and investors, we require that each account generate a minimum of commissions per month. Accounts generating commissions less than the minimum as stated below in any given month will be assessed the difference as a monthly activity fee. Please note that the monthly activity fee is based on commissions only, and does not include fees related to third-party assessments such as market data subscriptions or order modification/cancellation fees.

In addition to monthly fee minimums, we pass through market data fees from the exchanges for any real-time market data service in which a customer subscribes. Customers choosing to subscribe to US non-professional real-time market data will have the USD 10 (or non-USD equivalent) monthly market data subscription fee waived if they spend USD 30 (or USD equivalent) or more in commission for the month.

Customer Type Activity Fee Minimum
All customers not listed below USD 10(1) (or non-USD equivalent)
Financial Advisor Client USD 10 (or non-USD equivalent)
Indian residents(2) trading with an IB India account USD 5(3) (or non-USD equivalent)
Age 25 or under USD 3 (or non-USD equivalent)
Customer with equity balances < USD 2,000
(or USD equivalent) USD 20 (or non-USD equivalent)


Introducing Brokers Commission
A commission minimum of USD 2,000 (or non-USD equivalent) per month will be applied. In addition, a USD 10,000 (or non-USD equivalent) up front deposit will be required that will be applied against commissions during the first five months of business. The USD 2,000 (or non-USD equivalent) monthly minimum will be waived during this period.

Balance
The following minimums are required to open an account(1):

Category Required Deposit
All Individuals not listed below, Trading Group Masters, and Broker Masters USD 10,000 (or non-USD equivalent)
Indian residents(2) trading with an IB India account INR deposits only Equivalent to USD 2,000
Indian residents(2) trading with an IBLLC-US account USD 5,000 (or non-USD equivalent)
IRAs(3) USD 5,000 (or non-USD equivalent)
Individuals age 21 or younger USD 3,000 (or non-USD equivalent)
Advisor and Broker Clients USD 5,000 (or non-USD equivalent)


I havent seen any where, where it says its free???

I prefer to act on a 'Closing Price' Stop Loss, rather than 'Active Dollar Stops', placed in the market. Can you read the paper whilst working offshore Matt? Then ring your broker, to place an order? Geez I can go weeks trading just out of the paper and still spin some coin

Market Depth said:

I prefer to act on a 'Closing Price' Stop Loss, rather than 'Active Dollar Stops', placed in the market. Can you read the paper whilst working offshore Matt? Then ring your broker, to place an order? Geez I can go weeks trading just out of the paper and still spin some coin

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Mate i live in a chamber filled with helium for a month! So when i talk i sound like donald duck. Im flatout not having my parents hang up on me if i ring to wish them merry xmas!!!

mattryanshares said:

Mate i live in a chamber filled with helium for a month! So when i talk i sound like donald duck. Im flatout not having my parents hang up on me if i ring to wish them merry xmas!!!

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LOL! best use an automated stop then