Manila, Philippines

How to Set Up Cut Loss/ Stop Loss and Buy on Breakout in AAA Equities?

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As a stocks trader, have you experienced this:

  • You already have a trade plan with entry and exit. Good for you!
  • But you’re busy with your day job and when you looked, prices are now lower than your supposed cut loss. What do you do?

Or this one:

  • You have a predefined selling price (target price).
  • It was hit intraday, but you didn’t see it as you were in a meeting
  • By the time you see it, prices are now lower. Sayang.

Late in 2019, I switched to another online broker for my PSE stocks trading. I started with BPI Trade way way back, then stayed with COL Financial for a long time, then recently moved to AAA Equities.

If you ask, is it easy to move online brokers? Yes, very easy. Read about transfer of stocks to another broker here.

If you ask, why I moved to AAA Equities, then those scenarios above are among the main reasons (this is not a paid article by the way. I wish).

Tools of the Trade

Part of the journey as a trader is to improve our performance, and we use many tools of the trade as much as possible to make this happen.

  • There is the concept of trade expectancy (or win rate) and monitoring of such to see if performance is improving over time.
  • In every trade, we measure risk-reward ratio (RRR) to ensure that the trade is tilted towards gains than losses. But RRR only works if the stop loss and target prices are followed.
  • Now, even though we have the above, if we are not able to execute the trade plan, like cut losses or take profits on target price, then such trade expectancy, RRR and trade plan will just go to waste.

So, to improve the execution part of pre-planned trades, a certain level of automation in getting out orders, is definitely most welcome.

Stop loss and conditional orders feature

To date, COL Financial does not have this or very limited options (such as Good ’til Cancelled or GTC). But conditional orders in AAA Equities is much much better, as it allows me to set up the following:

  • Cut loss or stop loss
  • Trail stops
  • Buy on breakout
  • Sell at target price

Well, one can do all these with COL Financial, but you need to do it manually, as in real time, so your eyes have to be glued on the monitor to do this. Most of us don’t have the luxury to do this.

I moved to AAA Equities to avoid this common situation.

Better Mobile App

Also, to date, COL Financial’s mobile app is not very user friendly. It’s old and it sorely needs a refresh. I was hoping they will catch up with a better app eventually, as they are among the pioneers of online trading. But it’s been years! Perhaps, they have a legacy system, being among the first to be online. Whereas new players are using more updated and technologically advanced systems, hence coming up with an app, a better mobile app that is, is easier for newer players such as AAA Equities than it is for COL Financial. Just my speculation though! Anyway, I won’t be discussing much of the app here. It will be covered in another article.

For now, let’s focus on maximizing the conditional orders or trigger-based orders in AAA Equities. In the following video, I discussed the following:

  • How to set up cut loss, trail stops, buy on breakout and sell at target price?
  • How it can help you in trading?
  • What to lookout for, in terms of the difference between trigger price and order price?
  • Why this is better than GTC orders?

Watch the video here. Don’t forget to subscribe to our YouTube channel ok?

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