Selling shares when they hit a price?

Greenarrow_2

I'm sure it's possible to do this .... Can anyone tell me how I go about it?
I'm fed up of the share price going down between me seeing the favourable price , instructing the broker and them doing the deal.
I thought I might get them to sell if/when the share price reached the previous years high, for example.
Or is there a better way of doing it?

BillJones

One way to do it and also be paid for your willingness to do it is to sel a call option, with the strike price being the price at which you wish to sell.

Chargem

Who is your broker? It sounds like what you want is a limit sell order, where by you give your broker a price and they execute the sale when the price either goes up to or sinks down to the given price.

Ifts

This is how a limit order works with my broker (x-o.co.uk) and its the same with most brokers:

Limit orders and Stop Losses?
You can place a limit order to buy shares when the price at which you are prepared to buy is below the current market share price.
Alternatively you can place a limit sell order when the price at which you are prepared to sell is above the current market selling price. Should this price ever be reached, your order will be dealt automatically. Your limit order will be held for the time period that you specified.

http://www.x-o.co.uk/how_to_use.htm#18

EdGasket

It won't necessarily get dealt so you might still miss it but better than nothing. The problem with limit orders is new information can come up which say, makes the price move up a lot, but because of your limit order, you get sold out and are unable to benefit from the rise.

Perelandra

EdGasket wrote: »

It won't necessarily get dealt so you might still miss it but better than nothing. The problem with limit orders is new information can come up which say, makes the price move up a lot, but because of your limit order, you get sold out and are unable to benefit from the rise.

And also, if the market price just touched your limit price, then the shares may not sell (brokers don't check seem to check market prices every second of the day... which is fair enough!). This isn't really a problem, as you couldn't improve upon it doing it yourself- but just something to be aware of.

2010

Get an email alert from your broker when the price reached and then you can make up your mind what to do.

lvader

I'm quite surprised people still use brokers, it's much earlier to do it online. You can sell shares there and then with a few button presses on an Iphone/Android phone, it's quicker than just making the phone call to the broker.

2010

lvader wrote: »

I'm quite surprised people still use brokers,

You can`t buy or sell shares without using a broker be it online or the phone.

Greenarrow_2

Thanks everyone, you've all been very helpful and none of the information given could I see by just googling for it

lvader

2010 wrote: »

You can`t buy or sell shares without using a broker be it online or the phone.

I meant broker as a person over the phone rather than an online brokerage company, wasn't that obvious?