Apologies if this is super obvious, but I literally can't find this anywhere on the IG help site or forums. And I've made the mistake 5 times now, trying to set trailing stops on a position but incorrectly calculating how much "1 point" actually is and getting stopped out. Sometimes "1 point" seems to be $0.10, sometimes it seems to be $1.00. Help please!
How much is 1 point when setting a trailing stop on stock in CFD trading?
I've found this from "Investopia":
Points in Stocks and Other Securities
Just to add to the confusion, a point has a different definition when used to describe the price movement of a bond, a futures contract, or a stock.
A two-point increase in a bond's price indicates a 2% change in its value, such as an increase from $10,000 to $10,200.
A two-point increase in a futures contract correlates to an increase of two-hundredths of a cent, the equivalent of 2% of a penny.
A two-point increase in the price of a common stock share is a $2 increase, such as a $100 stock rising to $102.