Investing In Shares

chris_m

spike87 wrote: »

I'm not sure how to do the limit order on X-O.

This is the reply I received when I asked them about this;

There are 2 types of limit order that be placed on your account by selecting the different options from the order type field during market hours. Good Through is a limit order which enables you to set an expiry date for the limit. A Good for Today order works in exactly the same way but is only valid for that days trading. A buy limit order would be set below the current market price and would be the maximum you are willing to pay for the shares and will be dealt automatically if the price falls below your chosen level during the time period. Similarly a sell order would be set above the current market price and would be dealt automatically if the price rises to your chosen level during the time period.
A Stop Loss order is designed to protect you in a falling market and will sell your shares if the price falls below your trigger price. Please note this a not a guarantee that your shares will be sold at the stop loss price as if the market falls quickly they may be dealt below this level.

The options are only available during market trading hours and do not appear in the dropdown lists outside those hours - which is why I couldn't understand it at the time, as I was looking on a Saturday :-(

They also advised me that if you set a limit order (or stop loss) it's important to remember to cancel it if you make a trade manually, otherwise if the trigger is hit the system will still attempt to perform the trade and either try to buy when you may not have the funds or may try to sell the shares twice.

HTH
Chris

spike87

Really wish I'd taken the BP shares when they were 403 yesterday. I was certain they were going to go below 400 today but they've gone up to 422! Now I'm thinking do I buy at 420ish or wait and hope they drop back a bit?

So mad with myself for not doing it yesterday, especially after reading a post above saying don't wait, just do it.

Thrugelmir

spike87 wrote: »

Really wish I'd taken the BP shares when they were 403 yesterday. I was certain they were going to go below 400 today but they've gone up to 422! Now I'm thinking do I buy at 420ish or wait and hope they drop back a bit?

So what's your rational behind buying BP currently?

Timing a purchase day to day is a lottery. Better to buy for the longer term.

sunil1234

WHY DONT YOU PUT A LIMIT ORDER ON WITH AN EXPIRY DATE FOR A WEEK OR TWO AT A £4 ish price?

sunil1234

Thrugelmir wrote: »

So what's your rational behind buying BP currently?

Timing a purchase day to day is a lottery. Better to buy for the longer term.

well said, i think everyone wants a profit from day one;)

Just_landed

spike87 wrote: »

I'm not sure how to do the limit order on X-O.

Can't believe the shares were sub 400 this morning and I missed it, they're back up to 405 now!

====================

Sounds like the bug is taking over. :cool: