Jump to content
  • 0

How do i know if i can place a stop loss before buying?


yogitree

Question

Hi,

How can i find out if i'm able to place a stop loss prior to buying the share?

I've been able to do it on most of the shares that i have bought, but was not able to on Griffin Mining which has just gone down. On Level 2 i can see it's a fairly illiquid share but how do i know what the threshold has to be on Level 2 for IG to allow a stop loss to be placed?

Thanks

Link to post

4 answers to this question

Recommended Posts

  • 0
34 minutes ago, yogitree said:

Hi, yes its buying shares through my ISA.

Thanks

Hi - if you have L2 data it's really worth getting the specific L2 dealer which gives you FAR more functionality. With this you will also be able to see which stock is trading centrally and which are going through market makers. Unfortunately at present MM's can't have GTC limit orders (and thus can't set up stops). 

You can find more information here https://www.ig.com/uk/l2-trading-platform 

Alternatively as a work around (which I appreciate isn't ideal) you could place a passive limit order to open a position (far enough away to not be hit), and if it is rejected you'd know that once your actual order is open, you wouldn't be able to add the sell order. 

Put simply, our prime broker can't accept orders on MM stock at present I'm afraid. 

  • Like 1
Link to post
  • 0
1 hour ago, yogitree said:

How can i find out if i'm able to place a stop loss prior to buying the share?

I've been able to do it on most of the shares that i have bought, but was not able to on Griffin Mining which has just gone down. On Level 2 i can see it's a fairly illiquid share but how do i know what the threshold has to be on Level 2 for IG to allow a stop loss to be placed?

Hey - is this in reference to a share dealing account? 

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Answer this question...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      14,881
    • Total Posts
      72,403
    • Total Members
      60,744
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    DirtyDiorite
    Joined 11/04/21 04:16
  • Posts

    • @Courage Thanks for that input, I am following this one. Being a newbie what news days and countries are best to look out for and what days are the big mover news days. Thanks
    • Spot on. The FX market is “influenced by policy makers through the purchase or sales of bonds  “ their mandate is to keep the confidence in their respective economies as high as possible.   That confidence is what the Fiat monetary system is based on, the moment that goes the system evaporates. If you recall a few years ago during Theresa Mays government, the key phrase was strong and stable? . That's their mandate. They can't let a currency move too far towards one extreme or the other.     So if you wana make money on fx you need to extend your time horizon or take the other position when things go too far into one extreme. I am only 32 but remember I  the dollar decline and the dollar inflation story that has been around for along time now. It's the same old story once you realise it's the new cycle, you learn to side step it and focus on what's important and that's the economy. Economic strength expresses itself in currency strength. Focus on that and you will get the big moces right. 
×
×
  • Create New...