Last May 2, 2013 Bo Sanchez emailed the Truly Rich Club members and advised us to sell our Meralco (MER) shares once the stock price reaches P380.
So I logged into the COL Financial (CitisecOnline) website that evening, and saw that MER's stock price was P377. Fortunately, I did not have to constantly watch the stock market the following day just to wait for the P380 stock price.
There's an automatic way to do it...
After you log into your CitisecOnline website:
1. Click on Trade/Portfolio
2. Click on Off-Hours Order
Then, under the Off-hours Details I entered the following:
Transaction - SELL
Term - ATO
Stock Code - MER
# of Share - (the number of MER shares which I wanted to sell)
Price - 380.00 (because that's the target selling price advised by Bo Sanchez)
Remember, that was in the evening.
The following day, when the Philippine stock market opened during its trading hours, Citiseconline would simply monitor the stock price of Meralco for me.
My SELL order was posted, and as soon as there was a willing buyer of Meralco shares, CitisecOnline (COL Financial) sold my MER shares for me.
I did not have to monitor the stock market every second.
The ATO order is good for only one trading day, so if COL Financial was not able to sell my MER shares, it would not try to do it again the next day.
Anyway, I got home in the evening, logged into the COLFinancial website, and saw that they were able to sell my MER shares for me at P380.00
It's so convenient! 🙂
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