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Protecting profit?

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jim47

Joined
3 March 2008
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Is there any way to protect a profit. For example, if I have made 10% on NAB but I still want to hold, and only sell when my profit goes below 10% like it did on Friday morning.

I'm using ETrade and work full time so I can't sit in front of a computer all day.

Thanks.

Jim
 
Re: Profit protect

Not sure if Etrade offers it, but its called a trailling stop loss
 
Re: Profit protect

You can do it with IB.

Keep saying it but this is one of the best platforms going round.
Once you set a bracket order attached to your buy you can set and re set your stop to trail up behind price.

Set it and go to work,all will be taken care of.
Be aware that slippige can and does occur.
 
Re: Profit protect

"Be aware that slippige can and does occur"

What is slippige?
 
Re: Profit protect

Actually spelt slippage, but it is when your stop loss (or any other order) does not get filled at the exact price.

EG - a heap of shares may get dumped on market pressing the price below your stop by 10c or so and then your stop executes.

So basically your stps are not assured at the price (or %) you set them, but they should be around that mark
 
Re: Profit protect

like NAB did Friday morning? about $1.50 in one hour!
 
Re: Profit protect

jim47 said:
like NAB did Friday morning? about $1.50 in one hour!
Click to expand...

Yes...most likely to happen when the market "gaps" down on the open, usually
due to movements on Euro and US markets.
 
I'm meaning something completely different in context with Slippage and protection of profit.

I dont have live charts here and I wont be back at the office until tuesday.
I'll post an explaination then.
 
Unless you are day trading, i would have thought holding NAB for the medium would be a good bet. No? Certainly i'll be topping up again.
 
News Extract


Not sure if there is any thread on NAB

However National Australia Bank has pulled out of talks to buy ABN AMRO's Australian and New Zealand unit from Royal Bank of Scotland, it said on Tuesday, just over a week after announcing it was in negotiations.


Cheer
 
Sorry to hijack the thread, but I too am a new user with a similar question about stop-losses or protecting profits?

I tried to search for it but had no luck, just wondering if there is such thing or if anyone knows of an online broker with free conditional trading.

Right now I am with comsec and it's a hefty brokerage cost if my stops execute. (i.e. 19.95 + $14.95 (upon execution))

Thanks in advanced.
 
Interactive Brokers (IB) as stated earlier.

Low commissions, free conditional orders.

Cheers
 
Thanks for your reply mate, I had a look at IB. I am still relatively new to investing and only had experience in the market since start of this year.

Do you recommend a very inexperienced trader like me who will not actively day trade to use such broker or should I just stick with comsec?
 
Does comsec have trailing stop losses?

I can find stop losses but i am not sure if they are trailing or are pre set at a certain price

Any help much appreciated
 
white_goodman said:
just out of curiosity is there a facility in commsec for normal stop losses?
Click to expand...

...just go to the "orders" tab, then "conditional trading- new trigger"
Before you can use a stop loss for the first time (as well as the other conditional trading options) you will need to read through all the terms and conditions then do a short online quiz to show that you understand what conditional trading is all about.
 
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