Anyone know why Davy Stockbrokers dont offer a "stop" service? Who else offer stops?

[barryl]

I rang Davy regarding how I can protect my investments by applying a stop. They say that they don't offer this service, does anyone know why this is and who offers this service and at what cost?

thank you

 

[mlane51]

Re: davy stockbrokers/protecting shares with stops

A really important point It is absolutely ridiculous that you cannot set stops and protect your hard earned money.

I had a long chat with them and they just said we don't set stops and basically get lost.

 

[Petal]

Re: davy stockbrokers/protecting shares with stops

Excuse my naivety, but what are stops?

 

[jpd]

Re: davy stockbrokers/protecting shares with stops

You set a price below the current price, and if/when the share price falls to or below this price then it is automaitcally sold.

 

[roro123]

Re: davy stockbrokers/protecting shares with stops

You set a price below the current price, and if/when the share price falls to or below this price then it is automaitcally sold.

A stop becomes a market order when its triggered so theres no guarantee that a stop will protect your investment, if you have shares worth 10 and set a stop at 9 and the stock hits the floor on bad news, there will be no buyers to fill your order at 9. Stops could also be triggered from a swift down up movement , stock at 10, stop at 9, price drops to 7 in early morning trading and then comes back to 10 in the afternoon and you shares were sold at 9. Then there might be a rally to 15 before close and you have sold your shares at 9?

 

[jpd]

Re: Anyone know why Davy Stockbrokers dont offer a "stop" service? Who else offer sto

Your stop order could be set at market price - but obviously you then have no guarantee of the price.

There are not many shares where the price goes from 10 to 9 to 7 and then back to 10 or 15 in the one day! If you are holding shares that go like that, that's not investing, it's trading/gambling. Stops are not really useful for traders.