Jump to content
  • 0

What is the reason behind default 'net off' value?


Konrad

Question

When trading on any platform (CFD) each deal has a default trade execution type set to 'net off'. What is the reason behind choosing this value as the default one?

I'm asking because I just lost some money (again) when opening new position against another already existing position. 

 

Imho most ppl when they see name 'new deal' they expect to open new position - if they already have an opened position on the opposite side of the market, they should know about it and the intention behind new deal is to open a hedge - not to trim an existing position.

Also, hedge is (again Imho) better solution from customer's perspective - it doesn't involve loosing money.

So why IG has decided to go for 'net off' option?

 

Possible solutions:

1. Leave the fiend empty but required - this will prompt a trader to make a conscious decision.

2. Make it configurable.

3. Make 'force ooen' as a default option.

4. Add another option to edit existing position (as ame way as you can edit limit/stoploss) - for situations such as closing only fraction of existing position...

 

K

 

 

 

Link to comment

0 answers to this question

Recommended Posts

There have been no answers to this question yet

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
      21,195
    • Total Posts
      90,731
    • Total Members
      41,305
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    sbehdadkia
    Joined 30/01/23 19:24
  • Posts

    • Trying to buy First Trust Nasdaq Cybersecurity ETF (CIBR) but the order keeps getting rejected, even with Order type = limit and expiry = Day (all  sessions).  Please advise.
    • @MongiIG How long does it take to reply to a simple question?
    • Look Ahead to 31/1/23: Big data from the US, China, Japan; PFE, XOM, AMD earnings Ahead of the Fed meeting and the key US jobs report, investors get set to digest retail sales numbers from Germany and Japan. Plus, look out for consumer-related data from China, France, and the US. Earnings see Pfizer (PFE), Exxon Mobil (XOM) and Advanced Micro Devices (AMD) hand in their Q4 report cards.   Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 30 January 2023        
×
×
  • Create New...