RE: Beginners Questions
(2014-07-17, 09:22 AM)pcabc Wrote: I'm currently buying using fill or kill orders. My entries seem poor I am looking to see if I can find UK brokers that support buy stop limit orders to see if that improves my entry points. Currently I'm using Hargraves Landsdown who don't support them. I can only get stop loss orders on FTSE350 as well.
This seems easy to find for CFD accounts but I am looking for regular share accounts. Interactive Investor seem to be one option, at least for UK listed shares. Is anyone aware of any others?
Plan was to not use the buy stop limit orders quite as the book intends - set them for the breakout levels, but not as a 'fire and forget' rather try to set them a few days before a potential breakout or continuation. That way I'd hope to mitigate against loosing large percentages of any steep rise - as I seem to have been doing.
This assumes I can spot a reasonable proportion of potential breakouts.
I don't think any of the retail brokers like you mentioned provide that kind of option for entering trades, although I might be wrong. But I have used a number of them in my ISA and SIPP accounts and most would only offer a stop loss on FTSE 350 stocks and nothing more complex than that.
If you want to trade with more professional options then you need a broker that gives you direct access to the order book and has all the options available. I believe Interactive Brokers has them, but haven't used them myself yet. But I know other members that do. Maybe private message goodtyneguy or shaunattwood as I think they both use them and so should be able to tell you if what you want to do is possible.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.