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How do I setup a stop loss / take profit?


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Hi Guys

I trade mainly in shares. I want to setup a stop loss / take profit. In other words if I bought a share for £30 and then share price went up to £35 I want to be able to set a limit so that the shares are sold if the price drops to £33. How do I do this please?

I have researched online to figure this out but I am not sure. Would appreciate if someone can please clarify. 

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Guest crossinvestments

Hello Jasear, 

I'm unaware if this is a feature of IG or any online share platform. However you can set up alerts on your account for a price on a particular company. This may help you in automatically alerting you to manually make the sale. 

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16 hours ago, jasear said:

Hi Guys

I trade mainly in shares. I want to setup a stop loss / take profit. In other words if I bought a share for £30 and then share price went up to £35 I want to be able to set a limit so that the shares are sold if the price drops to £33. How do I do this please?

I have researched online to figure this out but I am not sure. Would appreciate if someone can please clarify. 

 

4 hours ago, Guest crossinvestments said:

Hello Jasear, 

I'm unaware if this is a feature of IG or any online share platform. However you can set up alerts on your account for a price on a particular company. This may help you in automatically alerting you to manually make the sale. 

yes, on the share dealing platform you need to wait for the initial order to be filled before you can enter stop lose and take profit orders.

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14 hours ago, Guest crossinvestments said:

Hello Jasear, 

I'm unaware if this is a feature of IG or any online share platform. However you can set up alerts on your account for a price on a particular company. This may help you in automatically alerting you to manually make the sale. 

 

9 hours ago, Caseynotes said:

 

yes, on the share dealing platform you need to wait for the initial order to be filled before you can enter stop lose and take profit orders.

Sorry maybe my post was confusing. I was referring to filled orders i.e. I own the shares in the company now. It has grown since I bought it and I am in green. I want to add a stop so that if the price goes below a certain level it sells it. I also use etoro and they have this feature. Its stop loss feature but I can put a positive value in it to sell when my profits reach that level. 

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2 hours ago, jasear said:

 

Sorry maybe my post was confusing. I was referring to filled orders i.e. I own the shares in the company now. It has grown since I bought it and I am in green. I want to add a stop so that if the price goes below a certain level it sells it. I also use etoro and they have this feature. Its stop loss feature but I can put a positive value in it to sell when my profits reach that level. 

ok, so if you have an open position on the share dealing platform then a stop loss is just a sell order set below the current price for the whole amount, once set you can move it as needed. Same, a take profit order is just a sell order set above the current price for the whole amount.

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I'm also having the same issue. On some shares (e.g. ITM Power) I have the option  to place a "Stop Order". This is what I would use to place my 'stop loss'. However on another share (PHE) I don't have that order type, so can't set a stop loss. See attached snips.

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Yeah for some reason IG doesn't offer stop loss on all shares, I had the same with AVCT & FDEV recently. I decided not to buy any shares that don't have stop order as an option as things sometimes move very fast (see AVCT lately) and I don't have time to watch the screen whole day.

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9 minutes ago, Slaya said:

Yeah for some reason IG doesn't offer stop loss on all shares, I had the same with AVCT & FDEV recently. I decided not to buy any shares that don't have stop order as an option as things sometimes move very fast (see AVCT lately) and I don't have time to watch the screen whole day.

 

On 01/06/2020 at 09:42, akzg said:

I'm also having the same issue. On some shares (e.g. ITM Power) I have the option  to place a "Stop Order". This is what I would use to place my 'stop loss'. However on another share (PHE) I don't have that order type, so can't set a stop loss. See attached snips.

yes IG were looking at setting up a broker activated order for exchanges that don't accept bracket orders. For those exchanges you can currently only put in stop and take profit orders after the entry has been triggered so you could set a push alert at the entry level and then set the stop.

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55 minutes ago, Caseynotes said:

 

yes IG were looking at setting up a broker activated order for exchanges that don't accept bracket orders. For those exchanges you can currently only put in stop and take profit orders after the entry has been triggered so you could set a push alert at the entry level and then set the stop.

huh?

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31 minutes ago, dmedin said:

huh?

you'll love this,

Why many exchanges no longer accept stop loss orders.

"Why is the NYSE doing this? It issued the following statement Tuesday night: “Many retail investors use stop orders as a potential method of protection but don’t fully understand the risk profile associated with the order type. We expect our elimination of stop orders will help raise awareness around the potential risks during volatile trading.”

https://www.cnbc.com/2015/11/18/why-will-the-nyse-stop-accepting-stop-orders.html

  • Great! 1
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Weird, seems like a very amateur platform. I use two others and stop losses and take profits, are standard offerings and essential to good trading. I see them offered on spread account but not share, so they have the facilities to do it.

 

Any word here from admin on why your customers are not offered this protective and profit making facility on this site?

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exactly the same issue here. Free platforms like 212 offers this and I was really surprised its not here ! I also notice the issue with some shares having the option and others not. 

All my stop losses I setup yesterday with good till cancelled got simply deleted overnight !! Great. No warning whatsoever. 

The meaning of good till cancelled is it will not get deleted at the end of day right ?

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It is very frustrating. If they offer it for some markets, why not offer it for all. IG are rated as one of the best UK Share Dealers, but this seems like a very basic functionality that is missing!. Please get this sorted and extend to all markets.

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2 minutes ago, akzg said:

It is very frustrating. If they offer it for some markets, why not offer it for all. IG are rated as one of the best UK Share Dealers, but this seems like a very basic functionality that is missing!. Please get this sorted and extend to all markets.

'Why will the NYSE stop accepting stop orders?'

https://www.cnbc.com/2015/11/18/why-will-the-nyse-stop-accepting-stop-orders.html

IG have always offered what the particular exchange offered with regards to order types, for some time now many exchanges have removed some order types including stop loses, to protect the retail trader 🤔.

IG have said they were looking into a broker activated order to be placed as able on behalf of the client (some other brokers already do this).

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I recently signed up with IG for share trading and on eof their competing brokers.  I decided to fund my account with IG as it could be done isntantly.  To my dismay, when I entered my first trade, there was no ability to automatically set a take profit and stop loss.  I manually entered a stop sell order 10% above the price I paid as a form of a manual take profit,, good til cancelled.  Instead the trade closed 1cent above what I paid.  This is extremely frustrating.

I don't understand why there is no automatic take profit/stop loss facility.  And I don't udnerstand why my trade closed out.  Could anybody proviide some help?  

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  • 9 months later...
Guest Danny

Your order got closed because a stop sell order is an order to sell your shares to protect you from losses. It is not an order type for taking profit; for that you need a limit order.

So setting a sell order of 10% above your current price will execute immediately

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    • Look at the transaction log to see why, Most of the time it's because your stop loss is set too close. 
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