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Using guaranteed stops to go very long but cap maximum loss- request for Ig to automate


Malcolmbell1

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I like to use the above spread betting strategy eg on a stock I have followed and researched very carefully which appears to have significant upside and limited downside and as a way to profit from multibagging. However it’s extremely fiddly to enter the trades

1) Ig does not automate eg placing a £60 max loss bet using a £300k underlying with guaranteed stop nor does it make clear the maximum guaranteed stop amount for the stock at each price.
 

2)So a stock trading at £8/800p would require a bet of £375 per point and a guaranteed stop at £6.72/672p.

3) But the maximum bet at each price may be £25 so this would require 15 trades to be placed at incremental guaranteed stop prices. 
 

4) in order to reach an average guaranteed stop of 672p placing of those 15 trades would be very fiddly to work out what stop price each should be placed at…

so couldn’t Ig automate this? 

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    • Hi, sorry to be too late but a reminder that for when the market moves against your week day position over the weekend consider a hedging position in the weekend market in the opposite direction to your weekday trade so that overall your PnL remains fixed.
    • I don’t think you can as the market is closed - I’ve researched this and if “slippage” occurs and you have a “normal stop loss” which happens to be lower than opening price then you get executed at opening price, (which I guess is 11pm tonight)  apparently you need to select “guaranteed stop loss” to allow yourself to guarantee a stop at your chosen price.  fingers crossed. I’m in too deep really, it’s been an awful weekend worrying!!🤦🏼
    • Hi Rob, pretty sure you can still change your stop loss or take it off entirely, if that was something you wanted to do, just go into positions and adjust or if you wanted to take off you delete and press return, good luck with whatever you decide 
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