How to place stop and limit on same order

[TLE]

Hi - this has probably been asked a dozen times already, but I can't seem to find the answer...

I have an open position on a stock, and I want to place both a stop loss, and a limit at the same time, to close out the position, if it either goes up or down...but I cant seem to find how to do it.   If I add two seperate orders, I get a notification I can't sell it short...
Any help greatly appreciated.

Cheers

 

[JohnMotson1990]

+1

[Quacker]

On 29/01/2021 at 11:04, TLE said:

Hi - this has probably been asked a dozen times already, but I can't seem to find the answer...

I have an open position on a stock, and I want to place both a stop loss, and a limit at the same time, to close out the position, if it either goes up or down...but I cant seem to find how to do it.   If I add two seperate orders, I get a notification I can't sell it short...
Any help greatly appreciated.

Cheers

 

I'm guessing this is in the share dealing account type?  I would love this function too, but its appears it's only available on CFD's.  

[gofastninja]

why no one answers this ?

[Guest Stanley]

Yes, I agree, the use of both would be very useful. The only way I can see to do this is via the programming API, but if you aren't a programmer then you'll need to find someone to do that for you.

[Guest Morghas]

Hey Team, 

I have been trying to find the same answer and found it in the forum thread below. Its appears this isn't a supported feature for share trading accounts. 

In case there are IG staff out there, this is a deal breaker for me. Im going to change to CMC who offer the ability to have take profits and stops losses open at the same time. Setting an alert is a **** solution, I dont want to miss a target point because I couldn't log in on the day I get the alert. 

 

 

[ArvinIG]

17 hours ago, Guest Morghas said:

Hey Team, 

I have been trying to find the same answer and found it in the forum thread below. Its appears this isn't a supported feature for share trading accounts. 

In case there are IG staff out there, this is a deal breaker for me. Im going to change to CMC who offer the ability to have take profits and stops losses open at the same time. Setting an alert is a **** solution, I dont want to miss a target point because I couldn't log in on the day I get the alert. 

 

 

Hi Morghas,

On a share dealing acounts these are the types of order you can place:

You can't attach a stop or limit to a share dealing position 
https://www.ig.com/au/help-and-support/investments/share-trading/can-i-add-a-stop-or-limit-to-a-share-trading-position

I hope that it helps.

All the best - Arvin

[CRomey]

Fairly novice trader here, but this seems like a pretty basic functionality missing from the platform. Is there an actually good reason I can't place a stop loss and take profit order simultaneously?

[AndaIG]

Hi @CRomey

Thanks for reaching out, 

For share dealing we operate a direct custody model whereby all orders are routed through our broker to the exchange. Our broker does not support for the simultaneous placing of limit and stop orders on the same stock on exchange. 

All the best, 

Anda