Waiting to buy my first shares.

[aggreg8te]

I've just signed up, deposited money and was excited about my first trade. Then spent 38 mins and 2 secs waiting for someone to answer the phone with no success. No live chat available. The share price has already moved up two points in this time. I am trying to make my first share trade and as a newbie wanted someone to talk me through it. I just wanted to add a stop loss or trailing stop and can't find anywhere obvious to action it? Already very disappointed with the customer service of IG. Can anyone help? Thanks.

[nit2wynit]

2 hours ago, aggreg8te said:

I've just signed up, deposited money and was excited about my first trade. Then spent 38 mins and 2 secs waiting for someone to answer the phone with no success. No live chat available. The share price has already moved up two points in this time. I am trying to make my first share trade and as a newbie wanted someone to talk me through it. I just wanted to add a stop loss or trailing stop and can't find anywhere obvious to action it? Already very disappointed with the customer service of IG. Can anyone help? Thanks.

Hi, I'm not sure i follow you.  

Spread Betting and Share Dealing are not the same thing.  As you've stated Buying Shares, then I'm going to assume this is what you mean.  But if this is actually what you mean, then you can't add a Trailing Stop to a Share Account.  They don't operate the same way.  

Shares are bought and sold.  You literally Own them.  they are your share of a company.

Spread Betting is simply forecasting the direction of a share price.  You don't own anything.

So, to clarify, if you want to Buy and Sell Shares, you do that with the Share dealing Platform.  You cannot add a Stop or a Limit, but you  can Buy or Sell anytime the market is open.

Spread betting Retail Platform allows you to bet on the direction of the market.  You can place Stops and Limits.


Let me know if I can help you further.

Edited July 15, 2020 by nit2wynit

[aggreg8te]

Thanks for the reply. So I'm buying shares not spread betting. All the advice and books are telling me to put a stop limit on my share buying to make sure if my share tanks and I'm not around to see it or make the unwise decision to let it tank then a stop loss will activate and make sure I only lose the amount I set it to beforehand. 

[Caseynotes]

10 minutes ago, aggreg8te said:

Thanks for the reply. So I'm buying shares not spread betting. All the advice and books are telling me to put a stop limit on my share buying to make sure if my share tanks and I'm not around to see it or make the unwise decision to let it tank then a stop loss will activate and make sure I only lose the amount I set it to beforehand. 

yes, a stop loss is just an order to sell the full amount of shares at a price specified below the current price so once you have bought shares you can then place a sell order in the market which you could reset periodically to trail the stop behind current price..

[aggreg8te]

Ok, thanks but dont these sell orders only last a day or few days so i would need to reset them regularly? 

[Caseynotes]

3 minutes ago, aggreg8te said:

Ok, thanks but dont these sell orders only last a day or few days so i would need to reset them regularly? 

yes, depends on which exchange the stocks are listed on as to what type of orders they accept, some are GTC good til cancelled and some are just daily. 

[aggreg8te]

Thanks again. It makes it a problem for me so going to look at other options.

[Jayhawk]

After 45 yrs, I re entered the market in buy and sell shares, selected IG as my best choice, using my new smart phone to upload the App. All very new to me, as when I was buying shares or selling 45 yrs ago, it was through a phone box calling a broker. I started with £500.00, lost 2 weeks in understanding the process, but once my first purchase was completed 3 months ago, my confidence has grown, as has my capital. I have re searched many small AIM companies before I have invested in them, and as with most new entrants, I am showing losses on some and others a nice profit.

Looking to add further capital in 2 months time, as no benifit leaving money in banks.

As a renewable energy designer and concerned with climate change, this is the area I want to invest in, in the future