Jump to content

How do I setup a stop loss / take profit?


Recommended Posts

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. 

Link to comment
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. 

Link to comment
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.

Link to comment
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. 

Link to comment
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.

Link to comment

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.

Capture.PNG

Capture.PNG

Link to comment

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.

Link to comment
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.

Link to comment
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?

Link to comment
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
Link to comment

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?

  • Like 1
Link to comment

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 ?

Link to comment

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.

Link to comment
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).

Link to comment

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?  

Link to comment
  • 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

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,173
    • Total Posts
      90,694
    • Total Members
      41,277
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    muntazir
    Joined 28/01/23 09:29
  • Posts

    • Capital, win loss ratio. If you have a trading edge and you can consistently win 50% of your trades, so your winning 5 trades out of 10. So if your risking 1% of your capital per trade, out of your 10 trades 5 would be losers, so that’s 5% loss and realistically out of the 5 winning trades, some would make small profits, some break even and 1, 2 or 3 could run nicely IF you can let your profits run, basically your making money out of 2 trades out of the 10 trades (80/20 Rule Pareto principle) So a $20,000 acct risking 1% is $200 per trade, this will keep the trader with his trade risk based on being able to win 50% of his trades. A long term trend trader can win with 30% wining trade. Basically you need to know your numbers. Rgds Pete
    • Investing in stocks can be a great way to grow your wealth over time. However, there are different approaches that investors can take when choosing which stocks to buy. Two of the most popular approaches are growth investing and value investing. Growth Investing Growth investing is an investment strategy that focuses on buying stocks of companies that are expected to grow at a faster rate than the overall market. These companies are often in industries that are growing quickly, such as technology or healthcare. Investors who use this approach believe that these companies will be able to generate higher profits in the future, which will lead to higher stock prices. One of the main advantages of growth investing is that it can potentially provide higher returns than the overall market. However, it is also riskier than other investment strategies, as these companies often have higher valuations and more volatile stock prices. Value Investing Value investing is an investment strategy that focuses on buying stocks of companies that are undervalued by the market. These companies may be in industries that are out of favour or have recently experienced challenges, but they have strong fundamentals and a history of profitability. Investors who use this approach believe that these companies are undervalued and that their true value will be recognized in the future, leading to higher stock prices. One of the main advantages of value investing is that it can potentially provide lower risk than growth investing. However, it may also provide lower returns in the long run, as these companies may not have the same growth potential as companies in the growth investing category. Comparing Growth and Value Investing Growth and value investing are two different approaches to stock investing, each with its own advantages and disadvantages. Growth investing can potentially provide higher returns but is riskier, while value investing can provide lower risk but potentially lower returns. An investor may choose one approach or a combination of both. A portfolio that contains a mix of growth and value stocks can provide a balance of potential returns and risk. Conclusion Both growth investing and value investing can be effective ways to invest in stocks. The key is to understand the potential risks and rewards of each approach and to choose the one that aligns with your investment goals and risk tolerance. Analyst Peter Mathers TradingLounge™ 
    • I am a beginner, and I must say, there are a lot of rules to the trading game that one must abide by if they want to be successful.   Here, the writer mentions several basic rules for day vs swing trading.  However, I find that often times, the reasoning for these rules is not as  obvious for a beginner as it may be for an expert.   The 'why' factor if I may. For example, why must you have a large capital to trade with as a day trader? Because your positions must be large so that a small change in price will be augmented and turned into a large profit. Also, with such high risk, the margin will be specially high, given the trader is taking up large positions at a time.  Without a large amount of capital, positions may be forced to close due to funds being below margin requirements.  When this happens, you can expect to lose tons of cash, fast.  I learned the hard way. All the best, David Franco      
×
×
  • Create New...