Confused about Stops

[Guest CABBAGETREEPALM]

I need some advice re: Stops when buying an ETF

I am planning on keeping my ETF for the long term.

The current price is 140.6900 

It is telling me that I have to do enter a stop distance greater than 1407.0

I'M confused as I thought the stop distance had to be less than the current price.

If anyone could offer advice, It'd be much appreciated

Kind Regards

 

[Caseynotes]

1 hour ago, CABBAGETREEPALM said:

I need some advice re: Stops when buying an ETF

I am planning on keeping my ETF for the long term.

The current price is 140.6900 

It is telling me that I have to do enter a stop distance greater than 1407.0

I'M confused as I thought the stop distance had to be less than the current price.

If anyone could offer advice, It'd be much appreciated

Kind Regards

 

Hi @CABBAGETREEPALM,  yes the stop distance should be lower when buying, not sure which etf you are looking at but am presuming you are on the spread bet or cfd platform, in the example below on the order ticket once you have clicked Buy > entered size > entered entry price, then the platform should say what is the min stop level, how much is risked and the margin requirement.

Also, if you are looking to hold for a longer period check to consider buying the Forward rather than the Cash to avoid the daily 'overnight funding' charges.

[Guest CABBAGETREEPALM]

Hi

Thanks for the reply...this is my screenshot if I go 40 lower...so, is this correct? so I need to put in a greater number than 1407.0? This number seems a lot higher, not lower...it is also says the minimum is 10%, so that would be 126.6900, right?

Also, my buying platform is slightly different than any other platforms that I have watched, so whatever tutorial I watch doesn't totally apply to mine.

Thanks in advance

 

[Guest CABBAGETREEPALM]

HI Caseynotes....there is also no 'Forward' option on my app...so I'm slightly confused.  🤔

[Caseynotes]

25 minutes ago, CABBAGETREEPALM said:

Thanks for the reply...this is my screenshot if I go 40 lower...so, is this correct? so I need to put in a greater number than 1407.0? This number seems a lot higher, not lower...it is also says the minimum is 10%, so that would be 126.6900, right?

Ok, I can't find that one on my SB live or cfd demo UK offering but a couple of things, there is no spread between the buy and sell price because the market is closed so the deal ticket (New Trade) won't be working properly, it can't tell the diff between buy and sell or lower and higher. You won't be able to place a trade on the 'New Trade' ticket untill market open Monday morning. You could try it on the 'New Order' ticket instead where the order will sit waiting for market open, it looks like it's asking for a stop price rather than the number of points away.

Not every offering has the option of a Forward (Futures) contract as well as a Cash contract, you would need to look at the chart as per my pic.

That looks live rather than demo, are you sure you want to dive straight in? might be worth placing a few practice trades first just to get the hang of the platform.

[Guest CABBAGETREEPALM]

Caseynotes...much appreciated for your time.

I've tried in the 'New Trade' & 'New Order'...but had the same results!

I've also tried to do it in the demo, but it wouldn't let me trade ETFs...I will get in contact with Customer Service

Thanks again for the advice! Have a great day!

 

 

[Guest PandaFace]

Possible something because the market is closed and platform isn’t behaving?