To place a conditional order, you’ll first need to activate conditional order trading on your account.
You do this by logging into Bell Direct and navigating to Conditional Orders, under the Order tab.
Once done, you can place conditional orders in the same place. To place the order, you’ll need to define your trigger conditions and then follow the below steps:
- Select the security you wish to trade.
- Choose whether the order is to buy or sell.
- Enter the quantity you wish to buy or sell.
- Set a limit price, being the maximum price, you are willing to pay when buying, or the minimum price you are willing to accept when selling.
Please note that if your conditional order is triggered but the market price has moved above your buy limit price or below your sell limit price, no order will be submitted to the market.
A conditional order will trigger only once, at the first instance when all specified conditions are met.
Important information
- Limit orders may be placed at any time; however, they can only be executed while the market is open.
- A conditional order will only be executed if all trigger conditions specified by you are satisfied.
- If a buy limit price is entered above the current best sell price, the order will execute at the best sell price available in the market.
- If a sell limit price is entered below the current best buy price, the order will execute at the best buy price available in the market.
If you require assistance setting up or managing conditional orders, our team will be pleased to assist.