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Position closed by IG



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2 minutes ago, Mcg said:

They aren’t screwing their clients though because it’s transparent and they don’t have to make a market for you on things where there’s little liquidity. It’s not like they’ve randomly closed you out, you were warned it was coming ages ago. You guys are just salty because you’ve allowed trades to move significantly against you because your risk management is off and now you don’t want to exit the trades and take the loss. Most good traders have no difficulty flattening their book and going again as from time to time things like this can happen, but there’s a lack of adaptability here.

And no because as a product it’s just not set up for holding for months, particularly on volatile shares. You have to pay financing charges and the leverage is totally unsuitable for overnight holding of highly volatile stocks when a relatively small move would take you out when you’re leveraged 5:1. Spread betting is just that.. betting. Have fun with it and take advantage of the leverage intra day. Long term holds are better done by holding the underlying.. no leverage to worry about, no margin calls, no brokers changing rules.

Personally I spread bet daily, but I don’t allow positions to move against me too far from my entry price, and just look for somewhere between 1:1 and 4:1 risk reward. Would have no issue with exiting any trade i take as I’m not over leveraged. If I like a stock I buy the physical shares because that’s the most appropriate way of gaining exposure and means I can chill and not have to get stressed out about stuff I can’t control all the time.

FFS, are they paying you?  You sound like an IG lapdog.

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