Jump to content
  • 0

IG Late execution Of Stop and limit orders: What Chance do we have as retail traders!


Laser

Question

Morning All,

I have been using this platform for over a year now but this is my 1st post. So hello..

Apologies for the rant but here goes: Call me cynical but why is it that there is great difficulty for IG to execute orders on the platform at 8:00 am when there are good profits to be had but orders are executed immediately when not.

Just wondering if anyone else had issues with late executions on orders, in particular on trades where there are good opportunities for the little Guy with orders also being restricted to telephone orders only at 8:00 am and online orders restricted? See below:-

I placed a short Limit Order this morning on Astra Zeneca and Buy Stop Order on Deutche telecom, all were accepted before 8:00am :- see below. These weren't executed until 08:05 am and 08:02 respectively, however NOT at the agreed price but far later which in turn caused me firstly to lose my profits and secondly to get Stopped out as a result. Where I feel some what aggrieved is that as retail traders we seem to have to lose out on the missed profits not because of any fault of our own but still have to accept the losses after poor or slow execution.  I'm happy to take losses all day as a result of my own decisions but this seems a bit hard to swallow. As I said, what chance do we have against the institutions when this happens. Somebody made a lot of money this morning and it wasn't me.

Now I know why they say 66% of retail traders lose money! See Trail below Time stamp on RH side.

Any thoughts? Cheers.

 

ORDER AMENDED
07:59
AstraZeneca PLC
Sell £1.90 per point@ 9436.82
Stop: 27.6
Limit: 534.1
SYSTEM ORDER OPENED
08:05
AstraZeneca PLC
Sell £1.90 per point@ 8937
Stop: 27.6
Limit: 534.1
SYSTEM ORDER CLOSED
08:05
AstraZeneca PLC
Buy £1.90 per point@ 8965
Profit/Loss: £ -53.20
NEW ORDER
07:54
Deutsche Telekom AG
Buy £2.10 per point@ 1676
Stop: 8
Limit: 100
SYSTEM ORDER OPENED
08:02
Deutsche Telekom AG
Buy £2.10 per point@ 1717
Stop: 8
Limit: 100
SYSTEM ORDER CLOSED
08:02
Deutsche Telekom AG
Sell £2.10 per point@ 1708
Profit/Loss: £ -18.90
 
Link to comment

2 answers to this question

Recommended Posts

  • 0

Hi IggyIggyIggy

Thanks for your response.

That's quite true, I don't dispute that these were very tight stops in normal circumstances and had they been triggered by the "market noise" due to an initial spike in the wrong direction I would just have taken it on the chin, that's the risk one takes. However the anticipation was there for both companies to take the predicted direction following market fundamentals, which they immediately did with no fluctuation. As I said, this was as result of the late execution, not being triggered at the selected price causing these stops to be triggered later in the trade, ie, trade  executed 499 pips later in the case of Astra zenica and 42 pips for Deutche telecom. As this was the first time I have experience late executions, hence the query, I was intrigued as to whether others have experienced anything similar? if this is the case, that executions cannot be made in timely fashion at moments of high volatility I will forget trying to catch potential quick profits, one might say a lesson has been learnt. 

As a matter of interest, have you ever had this happen to you? 

Kind regards.

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
  • General Statistics

    • Total Topics
      20,144
    • Total Posts
      88,264
    • Total Members
      69,129
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Khushboo
    Joined 07/10/22 03:54
  • Posts

    • US Stocks: AAPL, AMZN, NVDA, TSLA, GOOGL, BRK.B, SQ, META, NFLX, ENPH, MSFT, BAC, JPM. Elliott Wave  SP500 US Stock Bear Market: AMZN, AAPL, NVDA, TSLA, GOOGL, BRK.B, SQ, META, NFLX, ENPH, MSFT, BAC, JPM, GS. Elliott Wave Technical Analysis  Stock Market News: The nonfarm payrolls on Friday, but more importantly would be the CPI on the 13th Oct as the Feds are firmly focused on Inflation. Stock Market Summary Elliott Wave Count: Tracking two different Elliott Wave counts. Analysis US Stocks: Tesla TSLA, Amazon AMZN, Nvidia (NVDA), Apple AAPL, Microsoft MSFT, Berkshire Hathaway (BRK/B), Block, Inc (SQ), Meta Platforms, Netflix (NFLX), Enphase (ENPH), Alphabet GOOGL. XFL Finance Sector ETF, JPMorgan JPM & Bank of America BAC, Goldman Sachs Group Inc (GS) Stock Market Trading strategies: The risk reward is not there, so no trading strategy Video Chapters 00:00 SP500 09:06 Apple (AAPL) 12:58 NVIDIA (NVDA) 14:12 Amazon (AMZN) 16:07 Meta Platforms (META) 18;20 Netflix (NFLX)  19:12 Enphase (ENPH) 21:34 Tesla (TSLA) 28:09 Alphabet (GOOGL)  29:09 Microsoft (MSFT) 30:03 Berkshire Hathaway (BRK.B) 31:56 Block Inc. (SQ)  34:01 Banks JPM, GS 37:58 End. Thanks for supporting! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com      
    • Why is this stock unavailable to open for non-Pro clients? Surely a fund is less risky than an individual stock.
    • Hi @Kgrp74 Thank you for reaching out.  HMRC rules don't allow you to hold foreign currency in an ISA, but you can still buy international shares. The gains on currency conversions are only seen and credited in the account once you sell the shares if the currency rate is favorable to you. We also have to consider the 0.5% spread added to the exchange rate and commission charges which would normally offset your profits.  Thanks, OfentseIG
×
×
  • Create New...