Conditional orders are active for up to 12 months. Open conditional orders (orders where the market conditions on the ASX have not been met) may be cancelled or amended within 12 months, which means you can adjust them should you choose to. When all of your trigger conditions are met your order can be placed. If your order does not trade immediately, it will have a default expiry of 21 calendar days.

Types of Conditional Orders

For Falling Buy/Sell and Rising Buy/Sell orders you set the Trigger price, at or beyond which the stock must trade before your order is fired. For Trailing Buy/Sell orders your Trigger parameters include a Trailing Start Price and a Trail Stop Value.

For any Conditional Order Type you may also set a trading volume that must be reached before your order is triggered and you can select a time constraint also. Setting a volume condition may help to ensure that the order is not triggered without sufficient momentum in the traded volume of the stock. The units traded limit considers all units traded on the day the Trigger parameters are met and includes units traded at both above and below the Trigger parameters. If you enter a volume limit and/or time constraint, your Conditional Order can only be placed once the Trigger has been met and your trading volume target has been reached and the time is within your after and before limits, on the same day.

  1. Falling Sell Order (Stop Loss) 
    A falling sell order helps you limit any losses or protect any gains. For example you may have an unrealised profit on a share that you don't want to lose should the price fall. You can set a conditional order to sell the stock if its price drops and your profit starts to erode.
  2. Falling Buy Order 
    A falling buy order allows you to trigger a Limit order to buy a stock if the price drops to a particular level.
  3. Rising Buy Order 
    A rising buy order allows you to trigger a Limit order to buy a stock if the price rises to a particular level. For example, you believe that if a stock trades through a certain price (resistance level), it will continue to rise (break-out), so you could place a rising buy order slightly higher than the resistance level.
  4. Rising Sell Order (Profit Trigger) 
    Rising sell orders are designed to allow you to sell stock should its price rise to a particular level.
  5. Trailing Sell 
    A Trailing Sell allows you to trigger a Market order to sell the stock, should the price rise to or above your nominated 'Trail Start Price', and then experience a drop equal to or greater than your nominated 'Trail Stop Value'.
  6. Trailing Buy 
    A Trailing Buy allows you to trigger a Market order to buy the stock, should the price fall to or below your nominated 'Trail Start Price', and then experience a rise equal to or greater than your nominated 'Trail Stop Value'.

Please read the Share Trading Terms & Conditions for important information regarding conditional orders