Well, I am new to trading in FX. I was having some technical difficulties earlier and I can’t seem to understand why I couldn’t place an order earlier. I started an account with just a $100 capital.
I have placed 2 trades previously with a stop loss of around $10 per trade. The lot sizes were 0.5, on EUR/USD MINI but both were profitable in the end.
I wanted to short EUR/USD MINI earlier at 0.5 lots because of the shooting star/doji candle, and this is a very small amount. I suddenly got an error message that told me that my stop loss has to be around 200 points away at a loss of $100. When I tried to lower the stop loss to around $50, they told me that it is an invalid stop and the stop loss must be $100.
I was really confused because I have not encountered this issue for the past 2 trades.
I have attached a picture of the error to this thread. The picture shows that I was trying to attempt to long but I wasn’t as I was trying to toggle to buy to check if my short was having a technical glitch or something. You can see in the image that the SL was triggering some invalid issue.
Anyway, I couldn’t short the move in the EUR/USD due to this. After the move, I tried again and suddenly it was working again.
I am incredibly confused. What is causing this? Need your help on this so that I can avoid it from happening again. Do I need to top up more funds or what?
I tried calling IG Customer Service Hotline and they told me they have no idea and I have to call IG Trading Desk. I called IG Trading Desk and no one picked up.