Conditional Orders 101
Conditional orders allow you to execute strategies like cutting losses and buying on breakout automatically.
They set a trigger on when your Limit Order is sent to the exchange based on the stock’s Last Traded Price. If a stock falls below a certain point, sell! If it rises above a resistance level, buy!
There are two parts to every Conditional Order:
- Limit Order: This is under the “General” tab. Everything related to order execution is filled up here.
- Condition: This is under the “Conditional Order” tab. Everything related to order timing is filled up here.
Once your Condition is met by the stock’s Last Traded Price, the Limit Order is immediately sent to the Exchange.
Our platform triggers orders INSTANTLY once the condition is met!
In our experience, it takes less than 1 second from when your condition is met to when the system sends your order to the exchange. Try it out!
There is always a risk that the market moves too quickly before your order is executed. Luckily, there are ways to minimize this!
For example, you would like to Sell 1,000 shares if the price ever goes below P10
General Order: Sell 1,000 shares at P10
Condition: if Last Traded Price is less than or equal to P10
Outcome: If the price touches or goes below P10, you will have an order to sell strictly at P10 or better. No art of your order will be executed below P10. If the market gaps down from P10.01 to P9.80, no part of your sell order will be executed.
General Order: Sell 1,000 shares at P9.00
Condition: if Last Traded Price is less than or equal to P10.
Outcome: If the price touches or goes below P10, you will have an order to sell at P9.00 or at any price better than that. Your order will be tried to be sold at the best possible price. In our example, it will try to sell at P10, then P9.99, then P9.98 and so on until P9.00 (your limit order). If the market gaps down from 10.01 to P9.80, you will be executed at P9.80 (not P9.00!) provided there is enough volume at that bid price.
By setting your General Order lower than your Condition trigger, you maximize the chance that your order is executed.
Lets take the following example:
General: Sell 1k shares at P9.50
Condition: If price is less than or equal to P10
Market Bid Depth:
800 shares at P10
1,000 shares at P9.90
Your order will be executed so that you get the best possible price. Your order is executed to sell 800 shares at P10, and the remaining 200 shares at P9.90.
There are 3 scenarios where your order might be rejected:
- Not enough funds for a Buy Order
- Not enough stocks in your existing portfolio for a Sell Order
- During the Trading-At-Last* phase (3:20pm-3:30pm) of the PSE
*During the Trading-At-Last phase, the PSE will only accept orders that exactly match the day’s closing price. If a stock’s price at 3:15pm is P10.00 and then closes at P10.50, any Limit Order that is not equal to P10.50 will be rejected.
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ACCOUNT NAME: AAA SOUTHEAST EQUITIES, INC.
ACCOUNT NUMBER: 2591-0121-29
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|Online||Over The Counter|
- Funds can be deposited directly into your bank account, or be picked up as a check from our office by you or an authorized individual.
- Print, fill out, and sign our Withdrawal Request Form.
- Scan the form and email to firstname.lastname@example.org
- An email will be sent as confirmation once the Withdrawal Request Form is processed
Any unused cash reflected in your portfolio can be withdrawn at any time. Proceeds from sales of stock are eligible to be withdrawn 3 days (T+3) after the day of sale.
Conditional Orders let you automatically execute stop losses and buy-on-breakout strategies. It is a very powerful tool that lets you trade exactly as you plan to.
The “condition” is when you want your order to trigger. For stop losses, your order should trigger at a price below the market’s last traded price. For buying-on-breakout, the trigger should be above the market’s last traded price.
As promised, we charge the lowest commissions possible. Here’s a breakdown of where those fees are going.
We’ve included an example on the right side of what to expect after selling 1,000 shares at a price of P100 per share, for a gross trade value of P100,000:
|% Fee||P100k Gross Trade Example|
|Commission||0.25% (P20 min)||P250|
|VAT on Commission
||12% of comm||P30 (12% of P250)|
|PSE Transaction Fee||0.005%||P5|
|Sales Tax||0.6% (SELL orders only)||P600 (SELL orders only)|
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