# Questrade no longer allowing stop orders?



## favelle75 (Feb 6, 2013)

Just got an email saying they no longer allow stop orders on Canadian equities.... 

How can the market ever move in price of no one can buy or ask for more/less?


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## off.by.10 (Mar 16, 2014)

I think you've mixed up limit and stop orders. Still weird that they would no longer allow stop orders.


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## andrewf (Mar 1, 2010)

Here's the notice for questrade:



> Dear Andrew,
> 
> Questrade no longer supports stop and trailing stop orders on Canadian markets.
> 
> ...


I don't use stops, so I give exactly zero cares.


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## favelle75 (Feb 6, 2013)

off.by.10 said:


> I think you've mixed up limit and stop orders. Still weird that they would no longer allow stop orders.


Isn't a stop order just a limit order with a longer time frame?


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## SkyFall (Jun 19, 2012)

favelle75 said:


> Isn't a stop order just a limit order with a longer time frame?



wait a limit order isn't when lets say the stock CMF trade at $20 and you tell the broker asap it hit $21 it buys? and a stop or stop loss is when you tell the broker asap the stock felt under $19 it sells?

nevermind I was a little bit off, here is the answer!

limit order:

http://www.investopedia.com/terms/l/limitorder.asp

stop order:

http://www.investopedia.com/terms/s/stoporder.asp


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## humble_pie (Jun 7, 2009)

i've never used a stop in my life. Would never use a stop.

a stop is an order to sell *after* stock plunges below a set price. The risk is that the plunge can be deep. Investor can set his Stop at 18 but a collapsing stock can plummet straight through that price & he might not get out until 16.

imho such investor is a ditherer handicapped by the fact that he can't make up his own mind.

u want out? sell already. limit orders work fine.


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## liquidfinance (Jan 28, 2011)

Humble covered it quite well


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## andrewf (Mar 1, 2010)

A stop is a market order that is triggered by a certain price being reached. Market orders can be dangerous. During the flash crash, a lot of investors with stop orders either got burned or could have gotten burned but the exchange cancelled the transaction.


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## favelle75 (Feb 6, 2013)

andrewf said:


> A stop is a market order that is triggered by a certain price being reached.


But so is a limit order. I had a limit order for E.TO at $1.05 and it got filled, but it ONLY got filled when it reached that price.


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## humble_pie (Jun 7, 2009)

no, a limit order is *not* a market order. It is a limit order.

if investor guesstimates wrong, he might get a partial fill on a limit order. If he's smart, he'll stickhandle the rest of the order in order to finish up the job in one day.

on the other hand, a stop "is a market order that is triggered by a certain price being reached," exactly as andrew said.

thinggabbouddit. With a limit order, you will get shares at your limit. With a stop order, you do not know in advance what price you will be paying.


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## amitdi (May 31, 2012)

+1 for andrewf, zero cares for me too. Investors should not care much for stop orders....its the traders that would mostly use them....


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## amitdi (May 31, 2012)

favelle75 said:


> But so is a limit order. I had a limit order for E.TO at $1.05 and it got filled, but it ONLY got filled when it reached that price.


Here is what the user says with these orders....

Say current price is $20

Market order = Just BUY NOWWWWWWW (at current price, I dont care for slippage)

Limit order = I want to BUY at $19 (If price never goes to $19, then order is not executed)

Stop Order = I want to BUY if price goes to $21. Once the price reaches $21, then your order becomes a market order, so you get filled at $21.02 or so (depends).
The idea is to buy only if the stock is in a short term uptrend...if it continues down, then the user is basically saying "Naah... i dont want it"

Its a buy high, sell higher theory.


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