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Adding stops and limits to share dealing accounts

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Guest Dave

Hi

A newbie here on IG wanting to know why I'm unable to put a stock market stop GTC on a particular share and a limit GTC on a profit amount?

Both are sell issues but I'm not able to implement the limit order sell as it states I have already a sell order (stop) in place.

 

Seems ridiculous I'm unable to put 2 sell orders in place to protect my account and also to protect my profit as there is no trailing stop offered by IG and I do not want to be stuck to my phone every hour of the day to either stop myself out of a trade or take profits.

 

Any help with this clarification would be appreciated.

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Does seem a bit odd.  Have you tried opening the position's chart, selecting the position in the chart, and seeing if that brings up a limit bar you can then drag up to the required level?

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Checked this today in my own account and it doesn't work.  The old-style chart doesn't work this way.

I thought I'd try and recreate your problem using the orders in the normal way and it is as you say.  The message given after setting a stop when trying to do a limit is that I was trying to sell more shares than I own - implying the shares are sort of locked as soon as there is an order in existence pertaining to them.

This doesn't bother me because I don't use these on my share holdings.  If it's a concern to you I'd recommend contacting IG in the appropriate "wish-list" type thread, and asking for some sort of "one cancels other" enhancement to the orders system.  Unless @JamesIG or another expert knows of one I've not found...?

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I agree Trading without placing Limit Stops is ridiculous AND EXTREMELY DANGEROUS IG PLEASE TAKE NOTE

This is discouraged or prevented in Spread Betting shares.

The only reason I can see is IG are protecting there own interest ahead of the Client, they could be left holding your unwanted shares !!

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