Trading Techniques   

Stop Order

From what I know, open acct w/ 20K unless Mini w/ 5K.   

Don't know about lag of abt 15-20 mins, but I once compared counter quotes and found one of the quotes very different from another trading platform.  Since I was using the demo acct, also not sure live quotes/not for demo....

darylwj      ( Date: 02-Feb-2009 12:31) Posted: Hi sggal, I've tested the demo quite some time ago and if I remember correctly, there is a lag of abt 15-20mins in the live price and I'm using broadband. Anw, I'll test it out again. I do fully agree with your point number 2, it means time to re-evaluate their trading strategies (including risk mgmt and $$ mgmt) and fine tune it.  Anyway, I'm not doing margin trading, just only for shares. I'm concern of transferring funds out of the acct and incurring bank charges as this will eat into the profit. Thanks for your great help!

 

Hmmm... I don't think there should be a lag. Check with your account manager.

All prices should be live. 

darylwj      ( Date: 02-Feb-2009 12:31) Posted: Hi sggal, I've tested the demo quite some time ago and if I remember correctly, there is a lag of abt 15-20mins in the live price and I'm using broadband. Anw, I'll test it out again. I do fully agree with your point number 2, it means time to re-evaluate their trading strategies (including risk mgmt and $$ mgmt) and fine tune it.  Anyway, I'm not doing margin trading, just only for shares. I'm concern of transferring funds out of the acct and incurring bank charges as this will eat into the profit. Thanks for your great help!

 

Hi sggal,

I've tested the demo quite some time ago and if I remember correctly, there is a lag of abt 15-20mins in the live price and I'm using broadband. Anw, I'll test it out again.

I do fully agree with your point number 2, it means time to re-evaluate their trading strategies (including risk mgmt and $$ mgmt) and fine tune it.  Anyway, I'm not doing margin trading, just only for shares. I'm concern of transferring funds out of the acct and incurring bank charges as this will eat into the profit.

Thanks for your great help!

 

Hi,

(1) Yup. You need to deposit money. I'm not sure how much is need now though because they may have changed the policy. But that money is used for your trading purposes.

(2)  You can fund the account via cheque and I think fund transfer also can. Bank charges, I dunno because after the first deposit, I didn't fund my account. People usually need to fund their account when they have gotten a margin call - which is a really bad thing.

(3) The account will be in SGD so if you buy US shares, you will need to take into account the prevailing exchange rate.

(4) If you're not sure, suggest you try out their demo account first. They simulate everything - including commission charges. 

 

Hi singaporegal,

Appreciate your help in replying. I've tested the Saxo demo account some time ago and it does seems to be quite a good platform. But I still have the following questions regarding the SaxTrader Private acct.

1) To open the acct, you need to deposit SGD20K into the acct?

2) How do you fund the acct? Am I able to do an online fund transfer (from let say DBS acct) to the Saxo acct? Will there be any bank charges incurred?

3) To trade US shares, Am I able to buy/sell using SGD and Saxo will convert it to USD based on prevailing xchange rates?

4) I saw that the commissions for US counters are: <US$10 = US$0.03/shares; >US$10 = US$0.05/shares (all with min. US$15), meaning for example if you buy a US counter let's say at US$2 for 6000shares, does it means that the commission will be US$300?

Sorry for asking so many questions as I'm seriously considering to switch to another trading platfrom with stop loss order entry. Thanks!

singaporegal      ( Date: 01-Feb-2009 10:57) Posted: I haven't used Poems for a long time. I'm now mainly using Saxotrader and they do have an online version that has Stops. Try that?

 

I haven't used Poems for a long time. I'm now mainly using Saxotrader and they do have an online version that has Stops.

Try that?  

 

Hi, can anyone advice if it is possible to execute a Stop Order via online trading account for trading in the US market?

I understand that most brokerage (I'm using POEMS) only allows Sell Limit and Buy Limit Orders. Although the POEMS ProTrader allows for Stop Limit Order, but it is only for trading on Singapore Market.

I'll like to have the means to place a Buy Limit Order and once that has been execute, I'll follow it with a Stop Order so that I can log-off my screen as I can't monitor it the whole night. Currently I can only place a Sell Limit Order but it is a sure-fire way of screwing up the stop loss as the Sell Limit will most likely be execute way above my stop price.

Any help or advice to overcome this problem is greatly appreciated

Thanks!