Hi all
After some sizeable and avoidable losses over the last couple of years, I've decided to change my investment strategy by adding stop losses (and trailing stops) to individual positions. This does not appear to be permitted for individual shares by my current ISA platform provider (IG).
Can anyone recommend a platform where you can buy AIM stocks within an ISA AND set stop losses or trailing stops on those stocks?
Many thanks
Alex
HL do stop losses but not trailing. They are expensive. I found I was getting stopped out all the time, on AIM and small caps.
Tradeplan on IWEB might be useful. Not sure about how many AIM stocks it would cover?
I might add that a stopless on iliquid AIM stocks in a fast moving market might not be that helpful. No real guarantee tha a trade will be executed.
Spread betting accounts seem to have better stop loss options, I use IG who offer guaranteed, trailing stops on everything I've ever traded. They're also tax-free, and identical risk to ISA as long as you avoid margin.
Execution can be an issue on some stocks, I've had ones that failed, because there was no market, or they were delayed, because you are in a long queue. After the Brexit vote, it was a complete nightmare having stop losses on your shares, because you could not cancel the stop loss and on HL I could not trade on that stock. Some of mine did go through, about 4 hours after the market opened. But I lost control on the price. You did not know when or if and at what price they would sell at. In thin trading the spreads can go wider, easy to get taken out, only to see the price recover when trading picks up.
HL allow you to submit limit orders to both buy or sell. Would that suffice? It's not automatic so you would have to set the limit manually and adjust as the SP changes.
