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Puredeal / iOS Multiple portfolios and/or Force Open default


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One of the problems with most platforms is that there is only a single open position list.

 

It is quite normal for a trader to be running positions over vastly different target periods, and of course to run short-term hedges against long-term positions, rather than close those positions and re-open them. This is especially true with

 

- instruments with wide spreads, such as exotic currencies, Bitcoin, soft commodities, small cap shares etc.
- small share positions in CFD, where flat fees are payable.

- trading where multiple strategies are in play

 

To do this, it necessary to use the 'force open' feature. Unfortunately this defaults to 'off', and it is easy to accidentally close a long-running position, when meaning to enter a hedge, or a quick scalp in the other direction. This is also at odds with the MT4 method, a platform which IG also uses, which never averages trades (ie is always in 'force open' mode).

 

So my first suggestion is that this feature should be set as default on or default off in user preferences, along with 1-click ordering and so on.

 

My related suggestion relates to these long term holdings. It is difficult to see short-term trades if you have a large open position list with long term trades there as well. The only practical method is see what you are doing is to enable the 'time/date of trade' column, but of course this doesn't work in aggregate mode, etc. Also sometimes there are fire-and-forget trades where a stop and limit has been entered, and you don't want to alter it, or even see it.

 

A better system would be multiple portfolios of open positions, like you have multiple watchlists, for exactly the same reasons. These can be given names, and layouts would remember which one or ones are open. This has no other consequences for the software design. Positions could exist in more than one portfolio, like instruments can in watchlists.

 

A further enhancement in charting might be show all open positions or just those from one portfolio. Another would be reporting to show performance by portfolio. This does of course cause some design issues.

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  • 6 months later...

Agree  "force open" should be on by default on any instrument.

If you want to "SELL" or "SHORT" something closing an open position by accident make the whole thing very confusing.

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Hi , thanks for joining us on the Community!

 

Having a setting that will permanently force open any trade that you do is coming!

 

We've taken so much feedback asking for such a setting that our developers have begun working on the back-end so that it will be a feature on future releases of our platform. Unfortunately I don't have an ETA at the moment, but it is definately on it's way. 

 

Hope this helps!

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  • 2 months later...

Definitely like the idea about having an option for force open to be a default - I lodged a support query about it and was asked to post in communities and found your post.

 

Like the suggestion for trade list to be like watchlists too but not as important for my style of trading.

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  • 4 months later...
  • 2 weeks later...

I'm quite surprised that this feature hasn't been implemented sooner, as it's in IG's interests to have traders make as many trades as they can. The losses I've made from forgetting to just tick that silly little box during an attempted hedge against an open position or retrace is beyond tedious to the point I only open one trade at a time now.

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