Jump to content
Sign in to follow this  

Puredeal / iOS Multiple portfolios and/or Force Open default

Recommended Posts

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.

Share this post


Link to post

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.

Share this post


Link to post

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!

Share this post


Link to post

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.

Share this post


Link to post

Lack of force open is annoying. Surely, considering the repeated updates since the first post, this switch could have been amended to default to 'on' by now.

 

Come on guys, pull your fingers out!

Share this post


Link to post

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.

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.
Reply to this topic...

×   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
      12,814
    • Total Posts
      65,788
    • Total Members
      86,776
    Newest Member
    TonyJB
    Joined 28/10/20 16:20
  • Posts

    • Start the conversation The US election is scheduled for Tuesday 3 November 2020, when all 50 states and Washington DC will cast their votes. The vote spans six different time zones, so the first exit polls will be available at around 11pm (EST) when West Coast voting closes. In the UK, that will be around 4am (GMT) on Wednesday 4 November 2020. The election is likely to create opportunities for traders, with price movements expected across a range of forex pairs, indices and commodities in the run-up to polling day. Volatility related to the election could continue until congress certifies the result on Wednesday 6 January 2021, or even until the winner is inaugurated on Wednesday 20 January 2021. What should traders expect to see during the US election? All US markets tend to experience increased volatility in the run up to a presidential election, including USD forex pairs, indices and commodities. That’s because many investors will attempt to lock in positions before the result is announced – using polls to gauge public sentiment. The aim is to take full advantage of the price moves that occur when the country’s political direction is confirmed. At the top level, early indications suggest that the following could be on the cards if one of these two main candidates win: Donald Trump A Trump win could see an escalation of the trade war, potentially causing problems for some US exporters and having a negative impact on the value of the dollar. However, this effect could be offset by reassurances that tax cuts and deregulation will continue – boosting the US economy. Joe Biden A Biden win could see tensions in the trade war cool, providing a boost to US exporters and the dollar. However, these effects could be offset by tax increases for high-income households, and more limited deregulation.   How will markets react to the different candidates? Market commentary by IG Senior Market Analyst Joshua Mahony Stocks Markets hate uncertainty, and historically the perception has been that a new president might bring policies that could be harmful for stocks. This happened in 2016 when analysts were confident that a Trump presidency would spark a market collapse. But, we are now seeing that same fear creep in as people consider a Biden presidency and the potential uncertainty it could cause. Biden is openly more left-leaning, and his policies are expected to be geared towards human needs rather than those of investors and traders. This sentiment isn’t helped by suggestions that Biden would reverse Trump’s tax cuts, and it is likely that markets will rise alongside the potentially increased chance of a Trump victory as we approach the election. USD The value of a currency is supposed to reflect the health of an economy and its future prospects. Many are expecting Biden to be less focused on the markets than his Republican opponent, so the dollar could weaken in the event of a Biden victory. However, this effect could be offset if Biden is able to improve relations between the US and China after years of market anxiety. In this scenario, it would be the Chinese yuan which may benefit the most, with the trade war having sparked huge upside for USD/CNH. Keep in mind that if the wider markets fall on a Biden victory – including US stocks and indices – the dollar would likely rally in the short-term to reflect a risk-off move as investors turn to USD. Gold The prospect of a more expansive fiscal policy under Biden, and from a government which is happy to embark on substantial spending programmes, could provide a boost to precious metals. There’s a caveat here too, because in the past precious metals have also followed the same patterns as the stock markets during times of crisis. So, any collapse in equity markets that may come from a change at the White House could drag gold lower in the immediate period. Plus, while Trump has finally seen the kind of stimulus he would have hoped for, a Biden win could result in a more substantial stimulus package if the Democrats gain a foothold in Congress.   How are you trading?
    • Dax has been volatile today. Down 600, Dax down 4% on COVID fears. US open in 10 minutes. 
    • Hi, Can you please advise when is the last day to buy more TILS before settlement takes place? HL platform confirmed it is 30th October, can you please confirm the same? Thanks
×
×