Jump to content

stop loss on market makers stocks


Ricky66

Recommended Posts

Hi I have an account with IG and Iweb. Currently I use iweb to trade executing on average many  trades a month. The reason I stopped using IG was that it did not offer stop losses on these stocks which is not only bizarre but ridiculous. The primary reason I have made and continue to make good profits on trades is that I risk manage aggressively. A fundamental reason of that is to be able to get out of the market automatically if a price drops below a predetermined amount. All good traders use effective risk management to manage their risk and other platforms facilitate the use of stop losses on trades.

So my question is how do you expect anyone to use IG if you do not offer it on market makers stocks which in many cases are Aim companies. I was told that if I phoned through I could put it on a stock. Is that true?

I am interested in using it as they charge for £3 a stock for 3+ but it would only be viable if you can get out of the market ( even allowing for slippage) automatically

  • Like 1
Link to comment
1 hour ago, Ricky66 said:

Hi I have an account with IG and Iweb. Currently I use iweb to trade executing on average many  trades a month. The reason I stopped using IG was that it did not offer stop losses on these stocks which is not only bizarre but ridiculous. The primary reason I have made and continue to make good profits on trades is that I risk manage aggressively. A fundamental reason of that is to be able to get out of the market automatically if a price drops below a predetermined amount. All good traders use effective risk management to manage their risk and other platforms facilitate the use of stop losses on trades.

So my question is how do you expect anyone to use IG if you do not offer it on market makers stocks which in many cases are Aim companies. I was told that if I phoned through I could put it on a stock. Is that true?

I am interested in using it as they charge for £3 a stock for 3+ but it would only be viable if you can get out of the market ( even allowing for slippage) automatically

Hey @Ricky66, thanks for your post. 

In the underlying market you cannot actually place a stop order for market maker stocks. I can't comment on how iWeb is offering this but with IG you can set an alert price then get a quote at the time. 

We do not offer stops/ limits for market maker stocks though. I understand it's a little inconvenient when you want to leave your position rather than having to login to close it. Apologies. 

I will pass the feedback on to developers and our Share desk about tailoring our platform to make this possible. 

 

  • Thanks 1
Link to comment

Charlotte, thank you for your reply. Can I just clarify that you are saying that stops do not exist on market maker stocks?

I would then immagine if that is the case IWEB and XO as well as others must have a system whereby they log your stop on their system and when it is flagged up ie the price hits the stop or below then their system automatically tries to get a price and execute. I can quote an example of one trade that was a market makers trade that I had a stop loss on: This trade hit the stop. Iweb tried to get a price 3 times and could not ( due to volatility) so they phoned through to the MM and executed the trade.

It is definitely possible to do. I can only quote from my own trades. I trade approximately 100 trades a month and have never in 10 years seen my portfolio be in debt. ie I have never had less money than when I originally started. The main reason for that is risk management and stop losses for me play a major part.

If there was a way of doing what Iweb or others do I would be interested in bringing my business to you

Edited by Ricky66
  • Like 1
Link to comment

Hi Charlotte, 

Completely on board with Ricky66. I was looking to join a new platform and opened a demo CFD account to get a sense of your charting tools, indicators, etc before committing to IG. I am not interested in CFD's or Spread betting, but rather Share Dealing, ISA, SIPP accounts.  I was very impressed by the layout and the tools in place, but I could not believe that you did not have stop losses in place at all on the Share dealing account. I would go as far as saying that the aim for IG should be not only to introduce the basic stop loss facility but the more advance too, the trailing stop loss.

The alert price you suggest I am afraid is no where close to offer what a stop loss offers in terms of risk management on the account.

IG might be one of the top in terms of tools and charting, but offering a trading account without stop losses in place is purely suicidal for any trader and a complete lack of risk management offering tools from IG. 

Until the developers of the Share desk do not introduce this basic risk management feature I am afraid I won't be joining IG either.

Drop us a line when you have some news.

Many thanks,

Denis

 

Link to comment
  • 8 months later...

Hi there,

I am glad this topic has been raised already.

Can one of IG administrators advise if before buying a stock there is a way for your platform user to establish if a particular stock is a market maker one or not (perhaps in the ticket)? This way at least we can prepare to manage the stock differently before buying to one which offers a stop loss. Can this functionality be made available?

Thanks

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

    • Hey all, as some of you know, I've been reviewing quite a few new crypto projects lately and breaking down what they're about and the problems they aim to solve. Today, I'll be doing the same for a platform called HiveSwap. HiveSwap is a decentralized exchange operating specifically within the Bitcoin ecosystem. It utilizes the MAP Protocol to enable interoperability and facilitate seamless token swaps across Bitcoin's various layers - the base layer, layer 2 networks, and the MAP interoperability layer itself. A major selling point is HiveSwap's ability to bridge the gap and allow swaps between Bitcoin ecosystem assets and those from major EVM chains like Ethereum, BNB Chain, Polygon, and more. This cross-chain functionality is huge. The platform is also tackling liquidity issues for emerging asset classes like inscriptions and BTC-related tokens. HiveSwap provides a decentralized avenue for swapping these types of assets and creating liquidity pools, rather than being confined to centralized venues. With its robust underlying swap technology framework, HiveSwap ensures reliability and security for users contributing liquidity. It also incentivizes liquidity provision through liquidity mining rewards paid out in tokens. Overall, HiveSwap is positioning itself as the leading decentralized exchange within the Bitcoin realm. It's solving key interoperability challenges, bringing much-needed liquidity to newer assets, and leveraging proven tech for secure, trustless cross-chain/cross-layer swaps. HiveSwap is bridging multiple gaps in Bitcoin DeFi.
    • For those who love memecoins, there's an exciting new project called RUNES•X•BITCOIN that's worth checking out.    It's a meme coin developed using the Runes protocol on Bitcoin's blockchain. The "X" theme is a clever reference to Elon Musk and the idea of limitless possibilities.   But what makes it truly unique is that it's 100% decentralized and community-driven. The entire token supply was airdropped for free to anyone holding assets with the letter "X" in the name or ticker.   So if you had X domains, X NFTs, or BRC20 tokens containing X, you automatically received free RUNES•X•BITCOIN tokens. How's that for decentralized distribution?   The project has already exploded in popularity. Over 100,000 addresses now hold this Rune, making it the biggest one by that metric. And get this – the market cap skyrocketed from $2.1 million at launch to over $13 million! Insane growth. If you're looking to get involved, I heard Bitget has a series of events planned for this project, so you might want to check those out.   Some other key highlights: - The Rune code 110# seems to have a hidden meaning  - It utilizes cutting-edge Runes tech built on Bitcoin's UTXO model for fungible tokens - Fully decentralized, with no central control   RUNES•X•BITCOIN is bringing meme culture and community experience to Bitcoin in an innovative, decentralized way. While it might be considered a legitimateshitcoin, the concept and crazy early traction are certainly wild! It's definitely a project worth keeping tabs on in the BTC space.
    • I guess alot of people will be smiling rn having recieved their airdrop allocation some couple of hours ago. ANd with the pretrading price at $2, a lot of those farmers are anticipating huge cash out but let's see what the listing brings!
×
×
  • Create New...
us