Stop loss/trade

[Cedric 0]

If the price is 5000 and I put a stop at 5010 or 4090, how do I a buy or a sell at the same time at 4090 or 5010. As an added thought, can I repeat this so that as it reaches the stop and the new trade is initiated the new instruction is also initiated.

I have been told that IG does give the chance to 'net off' meaning if you are long 5 contracts and you sell 10, you should be left with a net short position of 5 contracts. The have a 'force open' option as well just in case you want to keep long and short position in the same product simultaneously. I am finding this very difficult to understand plus the fact that I can't find 'net off' or the 'force open' on my IG dealing form.

I hope you can understand my thinking and would appreciate your help in a way I can understand.

Thank you.....CedyB

[Caseynotes 2,598]

10 minutes ago, Cedric said:

If the price is 5000 and I put a stop at 5010 or 4090, how do I a buy or a sell at the same time at 4090 or 5010. As an added thought, can I repeat this so that as it reaches the stop and the new trade is initiated the new instruction is also initiated.

I have been told that IG does give the chance to 'net off' meaning if you are long 5 contracts and you sell 10, you should be left with a net short position of 5 contracts. The have a 'force open' option as well just in case you want to keep long and short position in the same product simultaneously. I am finding this very difficult to understand plus the fact that I can't find 'net off' or the 'force open' on my IG dealing form.

I hope you can understand my thinking and would appreciate your help in a way I can understand.

Thank you.....CedyB

Hi, you will need to specify which platform you are looking at, the share dealing, spread bet or CFD.

[Cedric 0]

Sorry about that. At the moment I'm using the Demo CFD but I would probably want to use it on the Spread bet if possible. Thanks for your speedy reply.

[Caseynotes 2,598]

5 minutes ago, Cedric said:

Sorry about that. At the moment I'm using the Demo CFD but I would probably want to use it on the Spread bet if possible. Thanks for your speedy reply.

If you are UK you are better off tax wise using spread bet. The Deal ticket is for instant execution and the Order ticket is for pending orders. You can select either Net off or Force open, net off means any opposing positions will cancel each other out, force open will leave trades running in opposite directions. The option for either is on the deal/order ticket (see pic below).

 

 

[Cedric 0]

Thanks again. Yes I think I follow what you suggest. I have tried to find how to do this by looking in the ACADEMY tutorials buy without success unless of course (most likely) I'm looking in the wrong place.

I thank you again for your speedy reaction and explanation.