Jump to content

Add trailing stop to a limit order and guaranteed trailing stops


Recommended Posts

Guest NadelinaIG

Hi @zala, a few people have requested the option to automatically add a trailing stop to a limit order to open which we have passed onto the relevant dev teams. Unfortunately at the moment we don't have a firm roadmap on delivery as the current stop/trailing stop format relies on other logic in the back end which means we can't simply just switch it on. I shall continue to feed back to the relevant teams and I'll look to update Community members if the above changes.

When it comes to guaranteed trailing stops this isn't something which we have seen as much feedback on, however I will also look to pass this on to the relevant teams. In the meantime, whilst I know it's a manual process, you could look to set an alert for when the market moves 'x' points in your favor and then go in and change the stop manually. I appreciate this is by no means perfect, however it is currently the only work around. 

Please note that when doing the end of month report, we collect feedback from the forum and we will add your comment to that report for consideration of the relevant team. If anyone else is looking for either of the above features, please add to the request below. 

Link to comment

Dear @NadelinaIG.

Guaranteed trailing stops serve the purpose of protecting one's capital in terms of trading on a swing-term basis.
It prevents unpredictable market gaps that could erase substantial gains.

Options for both trailing-stop-limit orders and guaranteed-trailing-stop-limit orders should exist as it increases the universe of possibilities in terms of executing proper risk management.

Edited by zala
  • Like 2
Link to comment
  • 1 year later...

I think guaranteed trailing stops are a must. I can't see any fundamental disadvantage to IG by making it happen. IG's systems could be programmed to prevent an incremental trailing step and distance total that was not consistent with an increased guaranteed stop.

So if guaranteed stops increased to 750pts but the distance and trailing step was too small, then the position would not change. This would be equal to when we have to move stops manually. 

If this could be implemented it would make IG very competitive and attractive to all traders everywhere. 

Link to comment
  • 1 month later...

Given that Trailing stops are available with Non Guaranteed Stops, I can't understand 6 months on from the initial post why they are still not automatically available for Guaranteed Stops? Surely, much of the back end coding to allow this must already exist, and just needs a tweak. Forcing people to manually edit stops on guaranteed stops  seems like a punishment, When trailing stops were introduced why did someone take specific action not to apply them universally to all categories of stops. What was the flawed logic behind this decision?

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
  • image.png

  • Posts

    • NVDA Elliott Wave Analysis Trading Lounge Daily Chart, NVIDIA Corp., (NVDA) Daily Chart NVDA Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: ZigZag POSITION: Intermediate wave (A).   DIRECTION: Downside in wave 3.   DETAILS: We are looking at either a significant top in place in wave (5), or else we could be continuing higher, after a clear three wave move to the downside, leaving us with one more leg lower to come before upside resumption.   NVDA Elliott Wave Analysis Trading Lounge 4H Chart, NVIDIA Corp., (NVDA) 4H Chart NVDA Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: ZigZag POSITION: Wave 3 of (A).   DIRECTION: Downside in wave 3.   DETAILS: We can see what appears to be a five wave move into wave 3. Common wave 3 targets stands at 102$ with 1.618 wave 3 vs. 1 which seems to be confirmed by volume.   Welcome to our latest Elliott Wave analysis for NVIDIA Corp. (NVDA). This analysis provides an in-depth look at NVIDIA's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on NVIDIA's market behavior.   * NVDA Elliott Wave Technical Analysis – Daily Chart* The daily chart indicates that NVDA has either reached a significant top in wave (5) or is poised to continue higher following a corrective phase. The recent price action shows a clear three-wave move to the downside, suggesting that one more leg lower is likely before any potential upside resumption. Traders should monitor for signs of the completion of wave 3 within this corrective phase. * NVDA Elliott Wave Technical Analysis – 4H Chart* The 4-hour chart shows a five-wave move into wave 3, indicating a strong downward impulse. Common targets for wave 3 are around $102, supported by the 1.618 extension of wave 3 versus wave 1.   Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!  
    • S&P 500 Elliott Wave Analysis - Daily Chart S&P 500 Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 4 Position: Navy Blue Wave 5 Next Higher Degree Direction: Orange Wave 5 Details: Orange Wave 3 completed at 5680.49, now in Orange Wave 4 of 5. Wave Cancel Invalid Level: 5125.98 The S&P 500 Elliott Wave Analysis on the daily chart offers a technical view of the market using Elliott Wave Theory. The current market movement is identified as a counter trend, indicating a correction against the primary trend. This corrective phase signifies that the market is experiencing a series of waves moving against the primary trend. Specifically, the structure identified is Orange Wave 4, a corrective wave within a larger impulsive sequence. This wave typically represents a temporary retracement before the market resumes its primary trend direction. Within this structure, the current position is Navy Blue Wave 5. This indicates that the market is in the final wave of a smaller degree within the larger Orange Wave 4. Navy Blue Wave 5 is crucial as it completes the corrective phase before transitioning into the next impulsive wave. The direction for the next higher degrees is indicated as Orange Wave 5, the final wave in the larger degree impulsive sequence. This wave typically follows the completion of the corrective wave and signifies a resumption of the primary trend direction. According to the analysis, Orange Wave 3 appears to have completed at the level of 5680.49. This completion marks the end of the previous impulsive phase. Now, Orange Wave 4 of 5 is in play, indicating that the market is currently in the midst of the corrective phase before the final impulsive wave begins. The wave cancel invalid level is set at 5125.98. If the market reaches this level, the current wave count and analysis would be invalidated. This level serves as a critical point for reassessing the wave structure. Summary: The S&P 500 daily chart analysis shows the market is in a corrective phase, currently in Orange Wave 4 with the position at Navy Blue Wave 5. The next expected phase is Orange Wave 5, following the completion of the current corrective wave. Orange Wave 3 has been completed, and now Orange Wave 4 of 5 is in play. The wave cancel invalid level is set at 5125.98, providing a crucial point for reassessment if reached.   S&P 500 Elliott Wave Analysis - Weekly Chart S&P 500 Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Navy Blue Wave 5 Position: Gray Wave 3 Next Lower Degree Direction: Gray Wave 4 Details: Navy Blue Wave 4 completed, now Navy Blue Wave 5 of 3 is in play. The S&P 500 Elliott Wave Analysis on the weekly chart provides an in-depth look at market trends using Elliott Wave Theory. The market movement is identified as a trend, indicating a primary directional trend rather than a correction. This movement is classified as impulsive, suggesting a strong and directional move. The specific structure identified is Navy Blue Wave 5, part of an impulsive sequence within the Elliott Wave framework. Impulsive waves typically consist of five sub-waves moving in the overall trend direction. Currently, the market position is within Gray Wave 3. This indicates that the market is in the third wave of a higher degree impulsive sequence. Gray Wave 3 is crucial as it is typically the most powerful and extended wave in an impulsive sequence, characterized by strong market moves. The direction for the next lower degrees is indicated as Gray Wave 4. Gray Wave 4 will follow the completion of Gray Wave 3 and will represent a corrective phase within the larger impulsive sequence. This wave typically serves as a retracement before the market resumes its primary trend in the fifth wave. According to the analysis, Navy Blue Wave 4 appears to be completed. This completion marks the end of the previous corrective phase. Now, Navy Blue Wave 5 of 3 is in play, indicating that the market is currently in the final wave of the third impulsive sequence. Navy Blue Wave 5 is essential as it completes the overall impulsive phase before transitioning into the next corrective phase, which will be Gray Wave 4. Summary: The S&P 500 weekly chart analysis shows the market is in an impulsive phase, currently in Navy Blue Wave 5 within Gray Wave 3. The next expected phase is Gray Wave 4, which will follow the completion of the current impulsive wave. The analysis suggests that Navy Blue Wave 4 has been completed, and now Navy Blue Wave 5 of 3 is in play, indicating a continuation of the primary trend.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
    • Dear @NicusX, Thank you for your post and welcome to the IG community. Please note the following: 1. Manual currency conversion settings allow you to hold multi-currencies within a share dealing account, meaning that any currency deposited will not be converted. For withdrawals, you can only add one banking details per client, the second banking details will have to be added manually by our payments team and all payments to that bank account will also have to be manually processed by payments ops. 2. Please note that you can only trade ETFs available on the platform. Also, note that retail traders cannot trade US ETFs due to the PRIIPS regulation. Holding or selling existing positions remains possible, however, it is not possible to purchase or expand your holding in these ETFs. 3. Most US ETFs on the screener cannot be traded on a retail account due to the PRIIPS regulation. Thanks, KoketsoIG
×
×
  • Create New...
us