Jump to content
  • 0
Sign in to follow this  

Set Long and short limit order on same stock

Question

Hi

I have been practicing on a demo spread betting account and this seems to work, however is it allowed and will it get my live account banned??

 

Before the market opens, I would like to set a long and short limit order on a stock.

i hope that when/if it gaps at the open then I will have an order open in one direction and then I will close the unopened limit order in the opposite direction.

 

is this allowed? 

 

Thanks 

Share this post


Link to post

2 answers to this question

Recommended Posts

  • 0

Hi @Gabwilliams207, yes as far as I'm aware that is allowed but you will run into a number of problems you'll need to consider first. Demo does not behave the same as live, especially in terms execution and when dealing with things like slippage. You may find your actual entry is a mile away from your order. Also, statistically gaps will often get filled very early on meaning that once your slipped order is actually filled price immediately reverses and heads for your stop. Stop placement is also problematic due to the inconsistent nature of the entry.

So when first trialing on live use as small a bet size as possible.

Share this post


Link to post
  • 0
On 8/18/2018 at 11:03 AM, Gabwilliams207 said:

Hi

I have been practicing on a demo spread betting account and this seems to work, however is it allowed and will it get my live account banned??

 

Before the market opens, I would like to set a long and short limit order on a stock.

i hope that when/if it gaps at the open then I will have an order open in one direction and then I will close the unopened limit order in the opposite direction.

 

is this allowed? 

 

Thanks 

Yes, I think you can do this Gabwilliams, as its a form of hedging.. but much better as your not in the trades until the position is hit.. But be careful as it could swing into both of trades if you not monitoring the charts..

Share this post


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
You are posting as a guest. If you have an account, please sign in.
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.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      6,898
    • Total Posts
      32,534
    • Total Members
      42,420
    Newest Member
    ExoticBloodz
    Joined 19/06/19 00:53
  • Posts

    • @Foxy No you cant just trade anything, its licenced, i believe there are 61 pairs/markets that the program can trade in. Each Pair has a retail price of $3300inc but i never paid that, i got my initial 5 pairs for $5500. For my $15K i got another 20 pairs, this time including Gold, and a couple of Index's.
    • If one was unsure about investing in specific funds and trusts then they could consider constructing an ETF portfolio based on these technology themes. The potential is there for higher returns on specialist funds and trusts due to stock picking and capital allocation strategies. However, an ETF, will be a lower cost option but not necessarily a better performing one.
    • Now I have openly shared that I have invested in Bitcoin via XBT Provider One in the SEK (Swedish Krona) currency as I am not sure what the future for the Euro holds with Brexit uncertainty and what any hard Brexit implications may be for other EU Member States. However, you can invest in this in EUR currency too. The same applies for in Ether as well. It now offers ETN's for XRP and Litecoin.  There is also the Grayscale Bitcoin Investment Trust which is trading at a premium but if Bitcoin does well then this too could flourish for investors. This product is more for investing in Bitcoin rather than trading it. It presents a great way for an someone to gain exposure to Bitcoin in their portfolio without having to either physically acquire it and opening a Crypto Wallet, etc. or trading it. I believe nearly 3/4 of the demand from investors investing in this trust is from institutional investors including hedge funds based on the first quarter of 2019.
×
×