MarcusClifford
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Help me understand why this resulted in a loss? Spread Betting with Limit & Stop - BUY Position increased in value but still made a loss?
in IG Trading Support - Dealing Questions
Posted
Hi, I'm after some guidance as to why a spread bet position and close resulted in a loss for me.
I placed a BUY order for NIO at £1 per point at a price of 4551 I set a Stop at 4497.9 and a Limit at 4617.25 at time 20:11 UK Time
The price of NIO increased, as can be seen in the graph - this is good I thought - indeed the positions showed a profit.
The price increased and hit the value I specified in the Limit and the system automatically closed my position - that is good and what I wanted. This happened at 21:02
My problem is this then says that it closed at 4497.9 at 21:02 when the price was actually 4617 which was the value I set as my Stop Loss position even though the price was now 4617 - as can be seen on the graph.
I assume I have misunderstood something, but I don't get why the close price was the stop value rather than the Limit value when the price hit the limit and I should have made a profit (as it was a BUY and the price went up).
Can someone explain what I got wrong here?
I've attached a picture showing what I think is the relevant information.