as the title indicates, i am looking for a broker that has a stop loss that only activates by the close and not during the intraday action. the standard brokers such as etrade fidelity charles schwab etc do not have this. does anyone know of a broker that does have this?
brokers that have stop loss on close
- Thread starter happy trading
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How do you think that would work?
If the "close" price (i.e. the last traded price of the session) is your trigger, when is your stop order supposed to be executed?
Ignoring after hours sessions (not available for all markets / instruments), the only option would be next market day's opening trade.
If you want stop-out execution ONLY at end of day, then trade mutual funds.
There are "Limit on Close" orders. That may be what you want.
HAPPY!!!
So you want a time-based stop loss? Understandable. I have not been able to find a broker that does that. Obviously, it can be programmed, which is not my expertise.
I would set an alarm, 3 minutes before the close, and if I am still holding a position, I would simply puke it out. And that's all...
each broker has its own approach to work and its own conditions, and this can only be understood by working on the platform for some time, because everything comes in comparison