How often do you update conditional orders (shares)?

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by KayTea, 6th Sep, 2017.

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  1. KayTea

    KayTea Well-Known Member

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    Inside my head
    A few years ago I got bitten by a massive overnight drop in the value of SRX shares - I went from almost doubling my money, to being at a loss, due to one horribly bad market release. The worst part was not the loss itself, it was that I was going to sell them only 2 days earlier, but the 'greedy me' took over and decided to hold onto them, in order to keep on chasing a bigger and better profit, only to then lose the whole lot!

    I'm hoping to avoid this happening again, and now make better use of conditional orders (especially selling ones), which got me to thinking "how frequently do other people update their conditional orders?"

    I've been watching 2 parcels of shares steadily rising over the past little while, and have gone in and changed the order a few times. I keep increasing the sell price, and set the trigger price still a bit lower than the recent trading value (to allow for the daily bouncing around that the market, in general, appears to do some days), but have put orders in place to sell them and still walk away with a profit I'd be well and truly happy with.

    What do other people do?
     
  2. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Perth WA + Buderim Qld
    I use a trailing stop loss. This can either be at a average true range multiple, or a technical level. I never move them down (unless I'm short the share, of course.)
     
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