Stop loss orders are essentially limit sell orders for the stocks you hold in your portfolio, set at a price below the current market price. This is the price at which you would sell the security. By putting in a stop loss order, you are limiting your losses. Stop loss orders are designed to limit an investor’s loss on a position that makes an unfavourable move.
To place a stop order on, follow the steps below:
- Select the stock or ETF you would like to place a limit order for
- Click the ‘invest’ button on the bottom right
- Then on the top right corner select ‘stop order’
- Enter the target price per share at which you’d like to buy the stock, the number of shares and its expiry date
- Click confirm and review your limit order in the pop up dialogue box
Stop Sell Order:
- Select the stock or ETF you would like to place a limit order for
- Click the ‘invest’ button on the bottom right and select ‘sell’
- Then on the top right corner select ‘stop order’
- Enter the target price per share at which you’d like to sell the stock, and the number of shares
- Click confirm and review your limit order in the pop up dialogue box