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RBC direct invest

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  • Mar 18th, 2017 1:00 pm
[OP]
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Aug 16, 2015
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Burnaby, BC

RBC direct invest

Is there a way to set up stocks to auto sell if they drop to a certain price?
18 replies
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Feb 3, 2013
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GREENWOOD
kilburn305 wrote:
Mar 16th, 2017 7:20 pm
Is there a way to set up stocks to auto sell if they drop to a certain price?
Not that I'm aware of. You can setup alerts though...
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Apr 21, 2004
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I thought limit sell orders will do just that?

Unless you are day trading on speculative companies, I'd ease off on the auto sell orders because you can erode your investment capital quickly.
[OP]
Newbie
Aug 16, 2015
40 posts
1 upvote
Burnaby, BC
alanbrenton wrote:
Mar 17th, 2017 8:16 pm
I thought limit sell orders will do just that?

Unless you are day trading on speculative companies, I'd ease off on the auto sell orders because you can erode your investment capital quickly.
Why would you not use stop orders?

I put a stop order on VGR. I don't trust the company.
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kilburn305 wrote:
Mar 17th, 2017 10:19 pm
Why would you not use stop orders?

I put a stop order on VGR. I don't trust the company.
I don't want to be stop out if I think the stock was a buy, which is the reason I bought it in the first place. Just because a stock price drops 10%, doesn't mean it was a wrong purchase. Price is not efficient -- insider trading, external shocks, etc.

Of course if one is day trading, stop orders can be a good thing.
[OP]
Newbie
Aug 16, 2015
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Burnaby, BC
alanbrenton wrote:
Mar 17th, 2017 8:16 pm
I thought limit sell orders will do just that?

Unless you are day trading on speculative companies, I'd ease off on the auto sell orders because you can erode your investment capital quickly.

Why hold a stock if it falls through support levels?
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kilburn305 wrote:
Mar 17th, 2017 10:29 pm
Why hold a stock if it falls through support levels?
because I'm not a technician and no one knows exactly what support levels are there? If you knew and could time your entry and exits, then you would be a billionaire by now.

Anyway, the point is there is a limit sell order on RBC DI. Not sure how you can't find it.
[OP]
Newbie
Aug 16, 2015
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Burnaby, BC
alanbrenton wrote:
Mar 17th, 2017 10:28 pm
I don't want to be stop out if I think the stock was a buy, which is the reason I bought it in the first place. Just because a stock price drops 10%, doesn't mean it was a wrong purchase. Price is not efficient -- insider trading, external shocks, etc.

Of course if one is day trading, stop orders can be a good thing.
Yes, it was a dumb move. I bought VGR at 22.70 now I'm stuck holding. If it falls through support id rather just get rid of it rather than keep taking more and more losses.

Say you buy a stock at 22 per share. It goes up to 24. earnings is coming in a couple days. Why would you not put on a stop order at say 22.50 or whatever before earnings? If earnings get beat, you're fine. If it's a bad miss you stand to lose 6% or more but the stop order will save you right???

Im not seeing any downsides. But im also a noob so if you can convince me otherwise please do.
[OP]
Newbie
Aug 16, 2015
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Burnaby, BC
alanbrenton wrote:
Mar 17th, 2017 10:36 pm
because I'm not a technician and no one knows exactly what support levels are there? If you knew and could time your entry and exits, then you would be a billionaire by now.

Anyway, the point is there is a limit sell order on RBC DI. Not sure how you can't find it.

Yes, I found it.
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Jun 26, 2011
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kilburn305 wrote:
Mar 17th, 2017 10:29 pm
Why hold a stock if it falls through support levels?
Why continue to hold a stock when you already don't trust the company?
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kilburn305 wrote:
Mar 17th, 2017 10:39 pm
Yes, it was a dumb move. I bought VGR at 22.70 now I'm stuck holding. If it falls through support id rather just get rid of it rather than keep taking more and more losses.

Say you buy a stock at 22 per share. It goes up to 24. earnings is coming in a couple days. Why would you not put on a stop order at say 22.50 or whatever before earnings? If earnings get beat, you're fine. If it's a bad miss you stand to lose 6% or more but the stop order will save you right???

Im not seeing any downsides. But im also a noob so if you can convince me otherwise please do.
Good point. What your doing makes perfect sense protecting your gains and maybe moving your limit sell order higher. Not sure if you can do a trailing stop without the 30 trades/quarter or $250k. I had IB before and TDW AT and now just with RBC DI, with its low tech interface that is good because I'd rather hold for a couple months if I got in at the right price.

I'm no expert at day trading, haha, but your idea is like buying an option straddle betting there would be a huge move in either direction. DLHunter is the option trader guru on RFD.
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Jun 26, 2011
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kilburn305 wrote:
Mar 17th, 2017 10:39 pm
Yes, it was a dumb move. I bought VGR at 22.70 now I'm stuck holding. If it falls through support id rather just get rid of it rather than keep taking more and more losses.

Say you buy a stock at 22 per share. It goes up to 24. earnings is coming in a couple days. Why would you not put on a stop order at say 22.50 or whatever before earnings? If earnings get beat, you're fine. If it's a bad miss you stand to lose 6% or more but the stop order will save you right???

Im not seeing any downsides. But im also a noob so if you can convince me otherwise please do.
In your scenario, if earnings had a bad miss and you have a stop order at $22.50, your shares will sell at 22.50 or lower...you are not guaranteed to get out at 22.50. If a $24 stock opens at $17, you aren't getting $22.50 back per share, you'll be getting $17.
[OP]
Newbie
Aug 16, 2015
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Burnaby, BC
RolandCouch wrote:
Mar 17th, 2017 11:00 pm
In your scenario, if earnings had a bad miss and you have a stop order at $22.50, your shares will sell at 22.50 or lower...you are not guaranteed to get out at 22.50. If a $24 stock opens at $17, you aren't getting $22.50 back per share, you'll be getting $17.
Well that's silly. So the wall street people get out at better prices than the rest of us plebs? Is that what you're telling me?

Or we all get wrecked at 17?
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Jun 26, 2011
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kilburn305 wrote:
Mar 17th, 2017 11:04 pm
Well that's silly. So the wall street people get out at better prices than the rest of us plebs? Is that what you're telling me?

Or we all get wrecked at 17?
You all get wrecked at $17, because the stock would be opening at that price, since nobody is willing to pay more than $17 for yours (or any else's) shares.
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Apr 21, 2004
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RolandCouch wrote:
Mar 17th, 2017 11:00 pm
In your scenario, if earnings had a bad miss and you have a stop order at $22.50, your shares will sell at 22.50 or lower...you are not guaranteed to get out at 22.50. If a $24 stock opens at $17, you aren't getting $22.50 back per share, you'll be getting $17.
This is how limit sell orders work? Yikes if the stock trades at anything 22.50 or lower the next day, RBC will sell the shares if you put in a limit order sell for 22.50?
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