Laser
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Posts posted by Laser
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Morning All,
I have been using this platform for over a year now but this is my 1st post. So hello..
Apologies for the rant but here goes: Call me cynical but why is it that there is great difficulty for IG to execute orders on the platform at 8:00 am when there are good profits to be had but orders are executed immediately when not.
Just wondering if anyone else had issues with late executions on orders, in particular on trades where there are good opportunities for the little Guy with orders also being restricted to telephone orders only at 8:00 am and online orders restricted? See below:-
I placed a short Limit Order this morning on Astra Zeneca and Buy Stop Order on Deutche telecom, all were accepted before 8:00am :- see below. These weren't executed until 08:05 am and 08:02 respectively, however NOT at the agreed price but far later which in turn caused me firstly to lose my profits and secondly to get Stopped out as a result. Where I feel some what aggrieved is that as retail traders we seem to have to lose out on the missed profits not because of any fault of our own but still have to accept the losses after poor or slow execution. I'm happy to take losses all day as a result of my own decisions but this seems a bit hard to swallow. As I said, what chance do we have against the institutions when this happens. Somebody made a lot of money this morning and it wasn't me.
Now I know why they say 66% of retail traders lose money! See Trail below Time stamp on RH side.
Any thoughts? Cheers.
ORDER AMENDED07:59AstraZeneca PLCSell £1.90 per point@ 9436.82Stop: 27.6Limit: 534.1SYSTEM ORDER OPENED08:05AstraZeneca PLCSell £1.90 per point@ 8937Stop: 27.6Limit: 534.1SYSTEM ORDER CLOSED08:05AstraZeneca PLCBuy £1.90 per point@ 8965Profit/Loss: £ -53.20NEW ORDER07:54Deutsche Telekom AGBuy £2.10 per point@ 1676Stop: 8Limit: 100SYSTEM ORDER OPENED08:02Deutsche Telekom AGBuy £2.10 per point@ 1717Stop: 8Limit: 100SYSTEM ORDER CLOSED08:02Deutsche Telekom AGSell £2.10 per point@ 1708Profit/Loss: £ -18.90
IG Late execution Of Stop and limit orders: What Chance do we have as retail traders!
in IG Trading Support - Dealing Questions
Posted
Hi IggyIggyIggy
Thanks for your response.
That's quite true, I don't dispute that these were very tight stops in normal circumstances and had they been triggered by the "market noise" due to an initial spike in the wrong direction I would just have taken it on the chin, that's the risk one takes. However the anticipation was there for both companies to take the predicted direction following market fundamentals, which they immediately did with no fluctuation. As I said, this was as result of the late execution, not being triggered at the selected price causing these stops to be triggered later in the trade, ie, trade executed 499 pips later in the case of Astra zenica and 42 pips for Deutche telecom. As this was the first time I have experience late executions, hence the query, I was intrigued as to whether others have experienced anything similar? if this is the case, that executions cannot be made in timely fashion at moments of high volatility I will forget trying to catch potential quick profits, one might say a lesson has been learnt.
As a matter of interest, have you ever had this happen to you?
Kind regards.