Stops and trailing stops for share dealing

[Greektraveller]

Previously with Barclays stockbrokers we had the facility for stops and trailing stops as a way of limiting losses. I find the lack of this although I have suggested it a couple of times poor.

I am sure other people like us want to l8mit any possible losses on our shares.

I do not want to have to leverage to spreadbet as a way of doing this.

Alerts are no good in a fast moving market.

 

 

[JamesIG]

Although you can't specifically add a stop loss on the same deal ticket, you can manually set up the functionality so that when the market moves down, the order will execute to get out of your position.  You can also set up a 'limit' to take profit as well. Unfortunately we don't currently offer trailing stop losses on a share dealing account, but I will make sure this is submitted as feedback.

 

How to set stop losses on share dealing

 

1. Lets say you have an open position of 5000 BARC shares which you have bought at 205p.
2. You want to sell half, or 2500 shares, if the market moves to 180, and then the other half at 165.
3. You would simply open a new deal ticket and fill it in as follows. 

Stop market sell order for 2500 at 180. The GTC stands for 'good til cancel' rather than just the day order which will be deleted at the end of the trading day. 

 

 

...AND a stop market sell order for 2500 (the other half) at 165 (as highlighted in yellow).

 

 

How to set a limit (take profit) order

As above there may be circumstances where you want to leave a take profit to average out of your trade. If we take the same example as above, where you bought 5000 BARC at 205 and you want to take profit on half at 245. Your deal tick would show the 'Limit order' GTC option (highlighted green below), to sell 2500 at 245.

 

[mariopa]

I agree with @Greektraveller the fact that share dealing do not offer trailing stop is quite disappointing

[mariopa]

On 2/28/2018 at 2:02 PM, JamesIG said:

Although you can't specifically add a stop loss on the same deal ticket, you can manually set up the functionality so that when the market moves down, the order will execute to get out of your position.  You can also set up a 'limit' to take profit as well. Unfortunately we don't currently offer trailing stop losses on a share dealing account, but I will make sure this is submitted as feedback.

 

How to set stop losses on share dealing

 

1. Lets say you have an open position of 5000 BARC shares which you have bought at 205p.
2. You want to sell half, or 2500 shares, if the market moves to 180, and then the other half at 165.
3. You would simply open a new deal ticket and fill it in as follows. 

Stop market sell order for 2500 at 180. The GTC stands for 'good til cancel' rather than just the day order which will be deleted at the end of the trading day. 

 

 

...AND a stop market sell order for 2500 (the other half) at 165 (as highlighted in yellow).

 

 

How to set a limit (take profit) order

As above there may be circumstances where you want to leave a take profit to average out of your trade. If we take the same example as above, where you bought 5000 BARC at 205 and you want to take profit on half at 245. Your deal tick would show the 'Limit order' GTC option (highlighted green below), to sell 2500 at 245.

 

 

In the first scenario (first screenshot), what would be the difference between:

• using a stop market sell order for 2500 at 180 (like in the screenshot)
• using a limit order for 2500 at 180 

 

 

[PandaFace]

Stop market is > go and just sell no matter what the price. 

Limit order is > sell but not for less than this absolute limit. 

First is control over execution being filled second is over price. 

Howver that’s more for orders - stops is all about getting out irrespective of price. 

[247trader]

21 hours ago, mariopa said:

In the first scenario (first screenshot), what would be the difference between:

• using a stop market sell order for 2500 at 180 (like in the screenshot)
• using a limit order for 2500 at 180 

Basically if you tried to do a limit order to sell at 180 you would immediately get filled at the current levels and your position would close. You’re saying “I want to sell down to a price of 180” but because the market is at 212 you’re going to sell at these levels. 

[Gordy35]

On 01/03/2018 at 01:02, JamesIG said:

Although you can't specifically add a stop loss on the same deal ticket, you can manually set up the functionality so that when the market moves down, the order will execute to get out of your position.  You can also set up a 'limit' to take profit as well. Unfortunately we don't currently offer trailing stop losses on a share dealing account, but I will make sure this is submitted as feedback.

Can I add my vote to the feedback that a trailing stop loss functionality on share trading would be very useful.

It's actually a key factor which stops me moving all of my holdings over to IG.

[JamesIG]

Thank you @Gordy35 - I'll include this in the end of month report. 

[Guest guest21]

what country is this in?

 

I have an australian account and conditional orders (stops and the like) are not even available on securities.

 

Orders are killed at the end of every day (no difference if partially filled or not even hit) .........

 

or am I missing something in my australian account?

[Cdangibeaud]

Nope you are right, I have the same issue... Unable to set any stops at all. Just market price or order limit... It's very frustrating as I'd like to be able to limit losses in the case of high market volatility like the one we are currently experiencing. Are there any plans to add this in Australia?

[JamesIG]

On 30/09/2018 at 09:33, Guest guest21 said:

I have an australian account and conditional orders (stops and the like) are not even available on securities.

Orders are killed at the end of every day (no difference if partially filled or not even hit) .........

or am I missing something in my australian account?

Orders will need to be placed separately and can't be attached conditional. 

I believe I answered this on a different thread but for your convenience and to summarise "Several exchanges no longer accept GTC orders, including GTC stop orders. They have decided that such orders are a risk to investors who may see their orders executed at inopportune times due to temporary volatility in the market." 

We offer a pure DMA (direct market access) functionality where we don't come between your input order and the underlying exchange. Because the exchange themselves don't offer the order type, we don't either. Whilst some brokers do offer a sort of hybrid DMA where they take your order and automatically push a synthetic GTC order type (by automatically submitting your order as a new order every day), this isn't currently a function we provide. 

I appreciate that some clients do want this functionality, so I'm going to go and speak to our Head of Shares directly to relay feedback items such as this (as well as things like DRIP functionality etc). 

[Guest new trader]

Hi. Another vote for stops on share accounts.

I have been on the demo platform for a couple of weeks to get familiar with IG. Went to place a buy on your share platform and cant set stops, trailing or otherwise.

Have now opened opened demos on other broker platforms to find one that will offer stops with shares. 

Australian ASX.   

[Gethin]

On 28/02/2018 at 15:02, JamesIG said:

Although you can't specifically add a stop loss on the same deal ticket, you can manually set up the functionality so that when the market moves down, the order will execute to get out of your position.  You can also set up a 'limit' to take profit as well. Unfortunately we don't currently offer trailing stop losses on a share dealing account, but I will make sure this is submitted as feedback.

 

How to set stop losses on share dealing

 

1. Lets say you have an open position of 5000 BARC shares which you have bought at 205p.
2. You want to sell half, or 2500 shares, if the market moves to 180, and then the other half at 165.
3. You would simply open a new deal ticket and fill it in as follows. 

Stop market sell order for 2500 at 180. The GTC stands for 'good til cancel' rather than just the day order which will be deleted at the end of the trading day. 

 

 

...AND a stop market sell order for 2500 (the other half) at 165 (as highlighted in yellow).

 

 

How to set a limit (take profit) order

As above there may be circumstances where you want to leave a take profit to average out of your trade. If we take the same example as above, where you bought 5000 BARC at 205 and you want to take profit on half at 245. Your deal tick would show the 'Limit order' GTC option (highlighted green below), to sell 2500 at 245.

 

JamesIG. I'm on the UK platform with a standard share dealing acccount. I too would like to have stop losses and trailing stops but I don't appear to have the option to choose this in the on exchange tab. Is this available in the UK or is it dependent on which stock I am trading?

[JamesIG]

13 hours ago, Gethin said:

JamesIG. I'm on the UK platform with a standard share dealing acccount. I too would like to have stop losses and trailing stops but I don't appear to have the option to choose this in the on exchange tab. Is this available in the UK or is it dependent on which stock I am trading?

trailing stops are not available on share dealing accounts, because they are not order types offered by the underlying exchanges. 

What stock are you looking at specifically and I can see what options are available.

[jjjase]

On 29/10/2018 at 20:36, JamesIG said:

Orders will need to be placed separately and can't be attached conditional. 

I believe I answered this on a different thread but for your convenience and to summarise "Several exchanges no longer accept GTC orders, including GTC stop orders. They have decided that such orders are a risk to investors who may see their orders executed at inopportune times due to temporary volatility in the market." 

We offer a pure DMA (direct market access) functionality where we don't come between your input order and the underlying exchange. Because the exchange themselves don't offer the order type, we don't either. Whilst some brokers do offer a sort of hybrid DMA where they take your order and automatically push a synthetic GTC order type (by automatically submitting your order as a new order every day), this isn't currently a function we provide. 

I appreciate that some clients do want this functionality, so I'm going to go and speak to our Head of Shares directly to relay feedback items such as this (as well as things like DRIP functionality etc). 

Hi JamesIG - any progress on conditional orders (including stop losses?), I have recently starting using IG Share Trade for Australian market and very surprised they are not offered (including GTC orders).  Especially when your competitors like Commsec offer it.  Appreciate an update.  Cheers Jason 

[Guest Abc]

On 16/01/2019 at 14:12, jjjase said:

Hi JamesIG - any progress on conditional orders (including stop losses?), I have recently starting using IG Share Trade for Australian market and very surprised they are not offered (including GTC orders).  Especially when your competitors like Commsec offer it.  Appreciate an update.  Cheers Jason 

I too would like to know if there's any plans to include GTC orders

[JamesIG]

Unfortunately the only news i have is that we're looking into it. I wouldn't like to speculate further, but we'll make sure it's well marketed when share dealing clients are able to utalise such a function. 

[oldpos]

On 29/10/2018 at 20:36, JamesIG said:

Orders will need to be placed separately and can't be attached conditional. 

I believe I answered this on a different thread but for your convenience and to summarise "Several exchanges no longer accept GTC orders, including GTC stop orders. They have decided that such orders are a risk to investors who may see their orders executed at inopportune times due to temporary volatility in the market." 

We offer a pure DMA (direct market access) functionality where we don't come between your input order and the underlying exchange. Because the exchange themselves don't offer the order type, we don't either. Whilst some brokers do offer a sort of hybrid DMA where they take your order and automatically push a synthetic GTC order type (by automatically submitting your order as a new order every day), this isn't currently a function we provide. 

I appreciate that some clients do want this functionality, so I'm going to go and speak to our Head of Shares directly to relay feedback items such as this (as well as things like DRIP functionality etc). 

I cannot get GTC orders through IG.  All other Australian brokers (NAB, ANZ, Westpac, ComSec) I know allow GTC, not a hybrid DMA as you suggest as my buy orders with them actually stay in place in the market overnight.  IG is missing something here, I cant see any Australian trader happy with IG’s non GTC system as it presently stands.

[Guest Ary]

On 24/07/2019 at 07:24, oldpos said:

I cannot get GTC orders through IG.  All other Australian brokers (NAB, ANZ, Westpac, ComSec) I know allow GTC, not a hybrid DMA as you suggest as my buy orders with them actually stay in place in the market overnight.  IG is missing something here, I cant see any Australian trader happy with IG’s non GTC system as it presently stands.

Yup. This is really bad.

I put an order for 15000 shares. It got filled only 41 shares.

The day ended and the rest of my order got pulled out. IG charge the full single trade fee for this.