Jump to content
  • 0

Provident financial PLC (PFG) position with normal stop today


Guest L270211

Question

Guest L270211

Hi everyone. 

 

It it is my first time here. Spare with me if I have posted on the wrong board.

 

I have opened PFG short position a while a few days ago with normal stop at 611p but today when sp changed on the way up. The system closed the position well above my stop, at 760p and beyond margin call.  This has left with big minus (debt) on my CFD account.

1) Normal stop does not work alway?

2) Normally, How long IG gives its customer to clear the debt?

 

Thank you for your input in advance.

 

Link to comment

1 answer to this question

Recommended Posts

  • 0

Hi - I have had a look at Provident Financial, and although I can't explicitly discuss your trade (as this is an open forum), I can see that the stock jumped 20% overnight and as you were short this was obviously a market movement against your open position. 

 

A stop order is an instruction to send your order to market to get the best possible fill, and therefore the level you select can't be guaranteed. You can read more about stop orders here: https://www.ig.com/uk/glossary-trading-terms/stop-order-definition

 

If you would like a third party resource you can check out here: https://www.investopedia.com/terms/s/stoporder.asp

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
      21,197
    • Total Posts
      90,734
    • Total Members
      41,305
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Chainsaw21
    Joined 31/01/23 02:43
  • Posts

    • Content ASX200, CBA, IRON ORE, BHP, RIO, FMG,GOLD, NCM, GDX, PLS, LTR, DXY, AUDUSD, GOV-BONDS Summary Banks and Resources are toppy.. Elliott Wave ASX 200 v) of 1 Strategy No Strategy for the ASX200 Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • Stay informed on the latest market trends with our expert analysis of the US stock indices: SP500, NASDAQ, Dow Jones, and Russell 2000. Our analysis suggests the current decline in the market is corrective and could turn into a full five-wave impulse move, leading to a deeper drop. Keep a close eye on the USD DXY as the Federal Reserve's meeting on Wednesday may impact the market. If 102 serves as a support for the dollar, it could result in further gains for the dollar and losses for global indices, forex, and commodities. For the best trading results, we recommend waiting for the outcome of the Fed meeting before determining the next short-term trend Content: SP500 - NASDAQ 100 - RUSSELL 2000 - DOW JONES Summary  Corrective pattern lower Elliott Wave abc Strategies  No, waiting a few sessions to confirm the pattern lower. Video Chapters 00:00 S&P500  23:22 NASDAQ 100 (NDX) 25:28 Russell 2000 (RUT) 29:42 Dow Jones (DJI) 21:28 TRIAL Buy 1 Month Get 3 Months Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • 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.
×
×
  • Create New...