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New Trader


sidshare

Question

Good morning ,

 

can anyone give me some advice on the issue i'm currently having when i place a trade on the German Dax ?

As an example this morning the previous close for yesterday was 15661 and the open this morning was 15651 , the gap wasn't really large enough to encourage a trade but as i am new to trading i decided to try a trade . I put my entry point 2 points above the high of the first 5 minute bare at 15654 , my stop/loss 52 points away from my entry point and when i attempted to put my exit point in ( 2 points before the previous days close ) i get the message box come up saying - ' Limit level is too far from the current market price ' . I just don't understand where i'm going wrong when indicating my limit/exit point , any help from experienced traders would be very much appreciated , thank you .

 

Steve - UK

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17 hours ago, sidshare said:

Good morning ,

 

can anyone give me some advice on the issue i'm currently having when i place a trade on the German Dax ?

As an example this morning the previous close for yesterday was 15661 and the open this morning was 15651 , the gap wasn't really large enough to encourage a trade but as i am new to trading i decided to try a trade . I put my entry point 2 points above the high of the first 5 minute bare at 15654 , my stop/loss 52 points away from my entry point and when i attempted to put my exit point in ( 2 points before the previous days close ) i get the message box come up saying - ' Limit level is too far from the current market price ' . I just don't understand where i'm going wrong when indicating my limit/exit point , any help from experienced traders would be very much appreciated , thank you .

 

Steve - UK

Hi Steve,

Is that the error message that you see on your deal ticket?

You might need to put your entry point level at a minimum of 10 points away from the current level
image.png
 

If you need further assistance please contact us on the helpdesk.uk@ig.com.

All the best - Arvin

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Hi  Arvin , many thanks for your reply on the issues i'm having getting my limit/exit point correct . The deal ticket seems to be accepting my entry point , stop loss okay but when i indicate on the ticket my exit point i get the message come saying ' Limit level is too far from the current market price ' . I have just finished studying John Pipers spread betting course and in it he says that your exit point should always be 2 points before the previous days close , but when i do this it gets rejected , i must be doing something wrong .

This morning for example yesterdays close was 15511 , the open this morning was 15574 so that's a good 63 point gap . So as it's an up gap i was looking for trading down , the close didn't however move downwards so no trade as per John Pipers rules . If the first five minute bar had closed in a downward direction i would of put my entry point 2 points below the low of the first five minute bar and my exit 2 points before the previous days close 15513 , do you agree with those calculations ?

Look forward to hearing from you ,

 

Regards , Steve

 

 

Regards , Steve

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10 minutes ago, sidshare said:

Hi  Arvin , many thanks for your reply on the issues i'm having getting my limit/exit point correct . The deal ticket seems to be accepting my entry point , stop loss okay but when i indicate on the ticket my exit point i get the message come saying ' Limit level is too far from the current market price ' . I have just finished studying John Pipers spread betting course and in it he says that your exit point should always be 2 points before the previous days close , but when i do this it gets rejected , i must be doing something wrong .

This morning for example yesterdays close was 15511 , the open this morning was 15574 so that's a good 63 point gap . So as it's an up gap i was looking for trading down , the close didn't however move downwards so no trade as per John Pipers rules . If the first five minute bar had closed in a downward direction i would of put my entry point 2 points below the low of the first five minute bar and my exit 2 points before the previous days close 15513 , do you agree with those calculations ?

Look forward to hearing from you ,

 

Regards , Steve

 

 

Regards , Steve

Hi, if you tag such as, @ArvinIG they will get a notification they were mentioned.

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19 hours ago, sidshare said:

Hi  Arvin , many thanks for your reply on the issues i'm having getting my limit/exit point correct . The deal ticket seems to be accepting my entry point , stop loss okay but when i indicate on the ticket my exit point i get the message come saying ' Limit level is too far from the current market price ' . I have just finished studying John Pipers spread betting course and in it he says that your exit point should always be 2 points before the previous days close , but when i do this it gets rejected , i must be doing something wrong .

This morning for example yesterdays close was 15511 , the open this morning was 15574 so that's a good 63 point gap . So as it's an up gap i was looking for trading down , the close didn't however move downwards so no trade as per John Pipers rules . If the first five minute bar had closed in a downward direction i would of put my entry point 2 points below the low of the first five minute bar and my exit 2 points before the previous days close 15513 , do you agree with those calculations ?

Look forward to hearing from you ,

 

Regards , Steve

 

 

Regards , Steve

Hi @sidshare, I have reach out to you via email to help with your query. We will need a bit more details to be able to assist you in placing your order.

Thank you - Arvin

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