Jump to content
  • 0

Stop orders and points away


Nazao

Question

Hello! 
I have two questions:

1. I am trying to open both long and short positions in the same market for the same stock. I found i must have “force open” activated PLUS there must be stop orders for both order types. 
While trying to do so, it is giving me “-    + points away” for setting limit and stop orders.  

I am not sure what does ‘points away’ mean please? I am new to the platform and Have only done normal buy/sell without setting any ‘points away’.

2. Lets say I bought 10 shares @$20 and I want them to get auto sold once the price reaches $25. How do I set this? I saw this same options “points away” which I am not sure how it works.

Many thanks!

Link to comment

5 answers to this question

Recommended Posts

  • 0

Hi @Nazao

Thanks for the feedback, 

The functionality to see the limit and stops as a monetary value is only on the web trading platform unfortunately. 

On a CFD account when buying shares a point is equivalent to one cent. So in your scenario you would be placing your limit 300 points away. That would be equivalent to a movement from $22 to $25. 

As soon as the market gets to $25 your limit would be triggered which would close the trade. 

All the best, 

Anda

  • Great! 1
Link to comment
  • 0

Hi @Nazao

Thanks for reaching out, 

A limit represents your take profit level, whereas your stop is your stoploss level. 

Limit points away: Number of points the market must move in your favour before the trade will close automatically

Stop points away: Number of points the market must move against you before a trade will be automatically closed. 

If you would prefer to see this as a monetary value you can change it on the deal ticket as attached

All the best, 

Anda

image.png

  • Great! 1
Link to comment
  • 0

Hello Anda,

many thanks for your reply.

I tried with IG mobile app, it only shows stop type as none/normal/guarantee. Does not give the monetary amount option as shown in your screenshot.

Let me know if i m wrong - what does points away mean? I called up IG helpline, and I was told 1 point means $1? Lets say, I bought 10 shares @$20 and want to auto sell them at $25. Current market price is $22. So should I set +3 points away? Also, this should be a limit order as per my target auto sell? 
As the current market price will continuously change, how does the above +$3 points away work? Again, I am not sure if my concept of points away (as written above) is correct or wrong.

Many thanks Anda for your help.

 Thanks!

Link to comment
  • 0

Hi @Nazao

There is a difference between a limit order and a limit. A limit order you are specifying a limit on an entry price, whereas on a limit you are taking profits. You should be using the deal ticket instead of the order ticket if you are looking to specify a take profit level. Limit orders are different, you can more about them from the following link: https://www.ig.com/uk/risk-management/limit-orders

All the best, 

Anda

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
      21,294
    • Total Posts
      90,939
    • Total Members
      41,420
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    ALJINVEST3
    Joined 08/02/23 06:13
  • Posts

    • For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: European mkts expected up. FTSE100 24hr mkts another new record high FX: Little move despite Powell saying more US rate rises needed to combat inflation Equities: Earnings this morning - BDEV PZ SVT TTE.  VOW last night a disappointment. This evening - UBER DIS. ZOOM announces 15% cut in global workforce Commods: Gold up for third day.  Oil up after API drop in inventories. NY orange juice another new record high        
    • Elliott Wave Analysis TradingLounge Daily Chart, 8 February 23,   Uniswap / U.S.dollar(UNIUSD) UNIUSD Elliott Wave Technical Analysis Function: Follow trend     Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave III of Motive Details: Wave 3 rise is likely towards the level of 15.37 Wave Cancel invalid Level: 4.946 Uniswap / U.S.dollar(UNIUSD)Trading Strategy: Uniswap is likely to recover well as price breaks through the MA50 and MA200 are bullish signals. and leads to the movement of wave III that is usually equal to 1.618 x the length of wave I at the level of 15.371. Uniswap / U.S.dollar(UNIUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish. TradingLounge Analyst: Kittiampon Somboonsod     Elliott Wave Analysis TradingLounge 4H Chart, 8 February 23,   Uniswap / U.S.dollar(UNIUSD) UNIUSD Elliott Wave Technical Analysis Function: Counter trend     Mode: Corrective Structure: Flat Position: Wave (B) Direction Next higher Degrees: wave ((2)) of Motive Wave Cancel invalid Level: 4.95 Details: Pullback of wave (B) when end, the price decline to wave (C)again. Uniswap / U.S.dollar(UNIUSD)Trading Strategy: Uniswap There is a strong recovery trend when the price breaks MA50 and MA200 is a good sign. But nevertheless, the price is in a phase of retracement in wave (2), when it finishes, the price resumes upward trend. Wait for wave ((2)) to complete. Uniswap / U.S.dollar(UNIUSD)Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators below Zero-Line Bearish momentum.
    • may I ask if anyone knows where is a good place where there is a forum on Excel Based Trading?
×
×
  • Create New...