Adding Stop Loss to open Share Positions

[MvW6868]

Hi, I'm fairly new to trading/investing on the stock market but have an account with II (Interactive Investor) and now with IG. I'm looking for the same or similar option to add a stop loss to my positions in IG but I can't find any way of doing it. Checking this forum I've found some conflicting information. The options aparently change when the Market is open or closed. So I'd expect more options when it's open which it is now. Others say Stops are only available on CFD.

This seems like such a basic feature that I can't believe IG would not make it available. Do I need to change a setting somewhere?

[KoketsoIG]

17 minutes ago, MvW6868 said:

Hi, I'm fairly new to trading/investing on the stock market but have an account with II (Interactive Investor) and now with IG. I'm looking for the same or similar option to add a stop loss to my positions in IG but I can't find any way of doing it. Checking this forum I've found some conflicting information. The options aparently change when the Market is open or closed. So I'd expect more options when it's open which it is now. Others say Stops are only available on CFD.

This seems like such a basic feature that I can't believe IG would not make it available. Do I need to change a setting somewhere?

Hi @MvW6868,

Thank you for your post.

Please note that unlike with trading CFDs or spread bets, stop losses stops are not available with share dealing. 

There are two main stop orders: stop-loss and stop-entry, a stop loss which is when you exit a trade when a price moves against you and hits a certain level of loss, is not available for share dealing.

A stop entry order, the opposite of a stop-loss order, used to open a position when the market hits a predetermined level is available on share dealing.

I hope this helps and clarifies any confusion you might have had.

All the best,

-KoketsoIG

[Bash4j]

Comparing your experience with my crypto related trading experience on the Bitget trading app. I say Depending on your trading strategy and analysis skills, a trailing stop loss might not be the one-stop solution. If your stop-loss strategy is based on technical analysis, for example, a stop-loss that trails on a specific parameter such as a percentage gap, you might find your stop-loss in a place that does not respect your own analysis. On the other hand, if you don't have much time to actively monitor and manage your trade, and if you have a more lenient trading strategy, then this is an ideal way to let your trade run its course while ensuring to lock in profits along the way.