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Where is it possible to set a stop loss correctly?

It has happened again.

I worked with a stop loss for the second time and it was a disaster again.

The first time I sold "by mistake" $LDO (+1.78%) and then missed a tenbagger. Now I have once again been stopped out at a completely lunar price at $TTWO (-0.9%) . I had put in a stop-loss because I was expecting that the game GTA VI might be postponed again and I wanted to prepare for this wisely

What's the problem? Well, to make a long story short the stop price was €201 and not 196€ of course the thing was triggered after-market again with a gas-sick spread. So of course the whole thing makes no sense and has nothing at all to do with tactical investing.

Of course, in the end it's down to the fancy broker who is once again trying to offer a function that he can't use sensibly with his trading venue.

Now the question is this the case with all neobrokers? I'm sure that stop-loss will work with almost all real commercial banks and special brokers designed for trading - but I only really need the function every few years. But it's an absolute disaster if the stop is only ever triggered 5% below the set stop price because the broker can't set a price.

How is it with Scalable or Smartbroker? Do they work? Which trading venues need to be supported because Lang & Schwarz Exchange doesn't seem to get it right at all.

06.11

Take-Two

Sold x10 at €195.96

€1,959.60

57.29%

10 Comments

All-in-or-nothing@All-in-or-nothing

What you want: A stop-limit order. What you have set: Stop-loss. Difference: With stop-limit, your order enters the market with your limit when the stop is reached. With stop-loss: Order enters the market UNLIMITED when the stop is reached. So it's not really up to the broker (unless they don't offer a stop limit).🤷🏼‍♂️

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Seventrader@7Trader

@All-in-or-nothing very well explained 👍🏼

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Soprano@Soprano

Very interesting, didn't even know there was a difference. Thank you.

So with my broker it is just called "stop order" without further classification and it is explained that my WP will be sold when the set price is reached.

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Soprano@Soprano

Then it should surely work with Smartbroker? As a "professional order", can I set limit buy and stop buy when buying and limit sell and stop sell and trailing stop sell when selling?

My other broker only offers limit buy and stop sell

Or not? Because I had always understood that with stop selling you sell if the line is torn downwards and with limit selling if it is torn upwards, e.g. if the share rises sharply. I think it even says that the limit must be above the market price and the stop below?!

Which broker can do limit and stop at the same time, so that the stop is sold but not unlimited?

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All-in-or-nothing@All-in-or-nothing

@Soprano It would be important to add that your WP is sold at the "set limit". Otherwise it is a standard stop loss.

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All-in-or-nothing@All-in-or-nothing

@Soprano According to Chat GPT, FlatexDegiro should definitely be able to do this. Also Scalable, Smartbroker+, Zero and ING. With ING I can say that it doesn't work in the app, but the full scope is included in the web application.

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Soprano@Soprano

@All-in-or-nothing I have both Scalable and SB+ and will report back

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TomTurboInvest@TomTurboInvest

Either set a stop limit as described by @All-in-or-nothing so that a market order is not executed when the SL is reached. Or you place the order on an exchange without post or pre-market trading. Or only with a broker with a corresponding selection.
With my trading broker, I can choose when the order should be valid. E.g. only during "Regular Trading Hours" or only "Extended Trading Hours" or both. Or only the first half hour at the opening.
I sometimes place limit orders that are only valid after/before the market opens in order to take advantage of the low liquidity and be able to sell at a higher price or buy cheaply. Then I grab the normal limit or SL orders.

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All-in-or-nothing@All-in-or-nothing

@TomTurboInvest Sounds like extreme flexibility 😁 Which broker?

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TomTurboInvest@TomTurboInvest

@All-in-or-nothing Interactive Broker - Great for US or international stocks.
Also great for TradingView users because it is integrated into the trading panel.
Costs: 1$ per executed trade

If you are interested, please contact us, the refferral link is attractive for referrals - shares up to 1000$ depending on how much trading volume you have in the first weeks.

Based for Europe in Ireland, and not tax-simple, i.e. no taxes during the year 😁

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