What's going on with Barclays share price?

[boxster9]

Racing Rod said:

Flipatron said:

I bought 1515 shares @ 66p and would like to put a stop order on at £1.70 for Monday mornings trading. I use the Barclays shares service and can find the option to sell when the price climbs to a certain level but no option to sell if it drops to a certain level?

Also, what happens if a place a stop order but the share price opens below my £1.70 stop?

Edited by Flipatron on Saturday 28th March 20:05

Good point, must admit that I'm not sure what happens if the price is much lower, I cover the position by filling in the "limit " section so that they don't sell below a certain price. I've placed 5000 on stop "sell" @ 1.72 with a limit figure @ 1.70, i.e if they fall below 1.72 but not beyond 1.70, then my deal goes through between those two figures, if it drops under 1.70, the sale dosen't happen, that way I live to fight another day with the hope that they will again go back up. I suppose that if they open 10p lower then nothing happens sale wise.

I think I'm right in saying that if you go to the "deal" section, you will find the "stop" section, click on that,and the "sell" option and the screen will take you to the stop/limit price page, you then fill in the blanks, always push the "show me" button to check that the figures you have entered reflect the price you want, made a mistake once and put the decimal point in the wrong place, but after pressing the "show me" button, I realised I was placing an order at 15p as opposed to 1.50p. Mind you, it was late at night a a few years ago, and I had drunk my way throught several pints, a bottle of wine and half a bottle of vintage Port, so not really suprising really.

How does this work? in the above example with a sell at 1.72 and a limit of 1.70, are the shares sold once the price dips to 1.70..or does the system 'hang on' to see if the price falls below 1.70 before doing the trade.

[Racing Rod]

Depends on how quickly they fall, at 1.72 the order triggers, but they may have dropped to say 1.71 by the time the deal can be concluded, if this happens under my stop order, the deal goes through. If however the drop is really quick, provided the price is 1.70 and above, deal still proceeds, BUT if they drop to 1.69.99, deal does Not complete, i.e anywhere in my band, all is fine, below limit level, no deal.

All this means is that its my choice to sell if the shares drop below 1.72, but if they drop below 1.70 before a deal can be completed, then my choice is not to sell, i.e I would rather hang in there and wait and see.