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Need for more options in opening and closing trades


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It would be excellent if we had more complex open/close conditions to choose from when opening in the web based platform (or mobile platform too!). For example:

 

1. The ability to close a trade at a specific time automatically.

2. The ability to close a trade automatically if the instrument remains in a certain range for x period of time (for example, close gold at 1090 - 1100 if it has traded in that range for 3 hours, which may be useful if say your stop is at 1089 and your limit is at 1101 and you don't want to keep the trade after a certain time so you want the position closed no matter what, you can set an order with these conditions and go to bed).

3. The ability to open and close with conditions based on the price of other instruments (e.g. Open wall street cash at 17900 if and only if the Dax over 11200 and if and only if the VIX is under 17 OR Close wall street cash at any price if Dax is under 11000).

4. Move stop to x level if y price is reached

 

I think it has to be remembered that this is all the context of having stops and limits. They could even be conditions of these kind of conditionals i.e. they are only available if you have stops and limits in place. The idea is to manage the trade while you're not at the computer within the range of that stop and limit, so if you were going to close those trades yourself if the conditions were met well this automates that. What it does is allow people from Australia to trade the US open and go to bed without having to stay up. I think this will create more trades for IG because people can go to bed comfortably knowing their trades are going to be carried out how they want them to be. I know sometimes I shy away from some trades on weeknights since I know I am going to have to watch them and I need to be somewhere else to have to sleep.

 

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Hi,

 

Thanks for getting in contact and sharing your idea!

 

The ideas you have mentioned are indeed very good and could benefit many clients with a wide variety of strategies. I will be sure to pass on these ideas to the revelant teams as we thrive on such valuable feedback as innovation is an important element of what we offer our clients.

 

As you may have seen recently we created an advanced options feature on our deal tickets which has been very well received and so the ideas you have shared may well be seen somewhere on the platform in the future.

 

Thanks again for taking the time to get in contact and if there is anything else you can think of please do let us know!.

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