Hi all - given its a quiet time I thought i'd throw a Q out there on platforms which solve well for conditional trading.
Is there one that's a clear standout where you can almost load in a buy-sell strategy for a given stock in one process? Looking to respect S&R type activity as a basic buy/sell strategy for those codes which are trading in a given range.
Currently use IG and Commsec (originally the idea was that for stocks which I would want to trade on a shorter term basis, use IG for the lower brokerage, Commsec for the longer burn stuff (Better UI etc)). IG clearly can't do anything conditional.
I"m looking for something where I can e.g buy a stock with pre-configured conditional sell conditions. At the moment with Commsec, I would need to Buy X stock at Y price. then submit an additional conditional order to sell X stock at Y price if Z conditions were satisfied. Is there an alternative that can combine these activities? Naturally the sell conditions would only come into play when the original buy order went through.
The flipside is a bit harder. So a conditional buy scenario of:
Buy stock X if it hits this price, then set stop at -Y% and/or rising sell at +Z%
I appreciate this strategy is very basic and in many ways very flawed as there are plenty of operators out there aiming to trigger stops to accumulate (and the debate on whether pre-set stops are a good or bad idea) but more a question of platforms and whether there are standouts that have the ability to pre-code multiple conditions into a single trade at a retail level
Thanks folks!
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