Jump to content
  • 0

order level?


Guest darranhamaflo

Question

Guest darranhamaflo

Hi. Looking to sell some of my holdings. I understand all the parts to the 'order form' but don't know what 'order level' is. Can anyone explain?

Link to comment

7 answers to this question

Recommended Posts

  • 0

Hi , thanks for the post.

 

'Order level' just refers to the price at which you want to enter the market, and buy or sell your holding.  Bear in mind that this is not a guaranteed level, rather one through which the market must move for your order to be triggered.

 

Hope that helps!

 

Thanks,

Hannah

Have a question? Try searching the community to see if it has already been answered.
Link to comment
  • 0

Hey all - I know that no one has replied to this thread in a long time, however i can see that it actually receives a significant viewership each week and therefore just wanted to flesh out the reply given by hannah and add a picture with a worked example.

 

As stated above, the 'Order Level' seen on a share dealing ticket (or other CFD or spread dealing ticket) will be the point at which the market needs to trade through before your deal is executed. In other words, the market needs to move through that price point for shares to be bought or sold. 

 

Lets take the below example deal ticket using the old 'classic' platform for share dealing...

 

2018-05-17 10_12_45-IG Dealing Platform _ Share dealing.png 

 

What the above is say is that BARC is currently priced around 209 roughly, and that I am looking to BUY a quantity of 1000 shares. I will make the trade a 'Limit Day' (i.e. if the trade isn't triggered by the end of the day then it's going to cancel), but I have a limit on the maximum price I am willing to pay. I am saying that I will set a limit of 200 via my order level, so if the price comes down to that exact level, my deal will go through and I will look to BUY the 1000 shares at 200. 

 

 

 

The new desktop trading platform - the same thing is called 'Price Level'

Below is an image of the new desktop dealing platform. You can see that on the 'orders' tab you will be able to set a specific price level rather than an order level. It means the same thing and is the level the market needs to trade through for your order to be executed. 

 

2018-05-17 10_20_24-IG Trading Platform _ Spread Betting.png

Link to comment
  • 0
Guest shlim-guest

Thanks thats useful, i have another follow up question. 

 

Using the example above, say that BARC shares are priced at 209 and I put my order level down as 210, that means the shares will be purchased immediately, is that correct? 

 

What if I put that order level down at midnight when the market is closed. Then will the order only execute when the market opens? 

 

I'm trying to purchase additional Amazon shares at 9am UK time, and have put my order level above the level that it is priced. Aware that NASDAQ only opens at 2.30pm UK time, however there seem to be minor fluctuations with the share price and it seems to be going up. If my order level is below the share price when the market opens, will my order not be executed? Or will it take into account what the share price was when I actually  placed the order? 

Link to comment
  • 0
On 13/07/2018 at 11:56, Guest shlim-guest said:

Thanks thats useful, i have another follow up question. 

 

Using the example above, say that BARC shares are priced at 209 and I put my order level down as 210, that means the shares will be purchased immediately, is that correct? 

 

What if I put that order level down at midnight when the market is closed. Then will the order only execute when the market opens? 

 

I'm trying to purchase additional Amazon shares at 9am UK time, and have put my order level above the level that it is priced. Aware that NASDAQ only opens at 2.30pm UK time, however there seem to be minor fluctuations with the share price and it seems to be going up. If my order level is below the share price when the market opens, will my order not be executed? Or will it take into account what the share price was when I actually  placed the order? 

I have the same question. 

Link to comment
  • 0
On 13/07/2018 at 10:56, Guest shlim-guest said:

Thanks thats useful, i have another follow up question. 

 

Using the example above, say that BARC shares are priced at 209 and I put my order level down as 210, that means the shares will be purchased immediately, is that correct? 

 

What if I put that order level down at midnight when the market is closed. Then will the order only execute when the market opens? 

 

I'm trying to purchase additional Amazon shares at 9am UK time, and have put my order level above the level that it is priced. Aware that NASDAQ only opens at 2.30pm UK time, however there seem to be minor fluctuations with the share price and it seems to be going up. If my order level is below the share price when the market opens, will my order not be executed? Or will it take into account what the share price was when I actually  placed the order? 

I have the same question

Link to comment
  • 0

I tested this today with BT. I ordered or set an order at 102 over the weekend when price was showing 101.8... woke up this morning on Mon and IG had executed the order at 108!!!!!

so lesson learnt.. just wait and execute yourself when markets reopen don’t just let the platform do as it pleases :(

Link to comment
  • 0
On 24/08/2020 at 11:14, JReyTheTrader said:

I tested this today with BT. I ordered or set an order at 102 over the weekend when price was showing 101.8... woke up this morning on Mon and IG had executed the order at 108!!!!!

so lesson learnt.. just wait and execute yourself when markets reopen don’t just let the platform do as it pleases :(

Hey @JReyTheTrader

If you set an order to open and the market price is at a more favorable price than the current market price this is seen as a stop order to open. If you use this we can execute the trade at the price you selected or the next available price. 

In your example when buying stock at a less favorable price that the market price. The market was at 101.8 and you asked to be opened at 102 or higher. When the market opened it opened up which is why it would have gone through you price 102 executing the order but that price was not available so we opened the order at 108. 

If you had set a market order to open at 101 and the market opened down at 98, we would have opened you here and this would be seen as positive slippage.

Apologies if you were not aware of this but hope it clarifies.  

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
  • image.png

  • Posts

    • When I started car shopping, I realized I knew nothing about checking out a used car’s past. In the past, I just looked at condition and price. However, a salesman showed me a detailed vehicle history report made by DIMO, a blockchain system tracking full data pulled from the car’s computers. I was amazed anyone could get such complete background details. While too pricey for me, this showed blockchain’s power to securely gather key info over time - from service to repairs to crashes. It made me recognize the need to evaluate history before buying.  DIMO builds thorough records to help buyers avoid “lemons”, accurately assess shape, check claims, get fair pricing, and feel confident around big investments. These histories even get passed to future owners, raising resale value. Where I once ignored backgrounds, now I know checking histories is key for informed used car buying. While test drives don’t tell the whole story, blockchain systems like DIMO allow transparency through permanent records. Understanding vehicle histories is vital for smart purchases.
    • I'm currently bullish on AI project tokens, especially on Bitget, and I'm excited about their symbiotic relationship with blockchain technology, which is driving financial inclusion and innovation. Projects like SORA, SingularityNET's AGIX, The Graph (GRT), and Nebula AI's NMT are leading the way in transformative advancements across various sectors.
    • I trade leveraged futures on Binance so I'm going to miss them, not that much though cos I also use Bitget exchange, and they have high liquidity and low fees, So I will just move my funds there and continue leveraged trading.
×
×
  • Create New...
us