Moving the stop loss

[Redeye76]

Hi, 

I'm trying to move my stop loss to in the money from 2973.35 to 2950. The current price is 2946.

However once I've changed the stop loss and click anywhere to return to the charts etc, the stop loss reverts back to my original 2973.35.

The same thing happens when I try and add a limit target. 

I presume it should be possible to move stops and limits on open positions?

Thanks

[Caseynotes]

@Redeye76, sounds like it might be too close to the actual price especially as stops auto widen going into a big news release, I presume you are talking S&P. Try moving in increments towards where you are trying to place it.

[Redeye76]

Thanks.

I just tried moving the stop to 2970 as a test but still the same thing happens. It looks like it sets but then as soon as I go to click back to the charts it goes back to the original stop loss of 2973.35.

Same thing with trying to add the limit order (2920). It looks like it sets but then it gets lost when I click out of the positions window. 

[Redeye76]

Just re-tried and it worked on both stop and limit! 

So you can't move the stops if there is 'news' coming out? 

 

[Caseynotes]

you can move them but the thing is that FOMC is the biggest news event there is and so anything other than a guaranteed stop is going to be prone to slippage where price just jumps over your stop and leaves you exposed. To avoid this the min stop level is widened leading up to, and for some time after, the data release, be aware well before and plan and adjust in good time.

[Redeye76]

Ok great, thanks very much for the tip 👍

 

[GraHal]

On 01/05/2019 at 21:23, Caseynotes said:

you can move them

Don't you mean you can 'pretend' to move them?  As they just snap back again as soon as you click anywhere just as the OP says.

I just tried to move my limit stop 1000 points away (as a Test) and it still wouldn't accept it ... it snapped back to 6 points above current Price.

One can't help thinking that the 'IG View' is that there is a high probability that News or maybe even just current Price Action is going to result in a good rise (I was Long the DJI) and so IG are making sure we get stopped out with minimum profit??

Damned annoying anyway ... whatever the reason??

If it is a glitch then it needs fixing asap??

 

 

[Caseynotes]

17 minutes ago, GraHal said:

Don't you mean you can 'pretend' to move them?  As they just snap back again as soon as you click anywhere just as the OP says.

I just tried to move my limit stop 1000 points away (as a Test) and it still wouldn't accept it ... it snapped back to 6 points above current Price.

One can't help thinking that the 'IG View' is that there is a high probability that News or maybe even just current Price Action is going to result in a good rise (I was Long the DJI) and so IG are making sure we get stopped out with minimum profit??

Damned annoying anyway ... whatever the reason??

If it is a glitch then it needs fixing asap??

 

 

Hi, it should be much too early or any change in stop requirement for the FOMC. I'm not sure what you are meaning, if you are long the Dow then you must be on either the spread bet or cfd platform but there is no minimum for the limit which is a take profit order, only for the stop loss which is a min of 6. Certainly the demo platform seems to be working ok.

[GraHal]

3 minutes ago, Caseynotes said:

f you are long the Dow then you must be on either the spread bet or cfd platform but there is no minimum for the limit which is a take profit order

Yes I am on the SB Platform.

But it is as if there is a block imposed on any stop changes ... not just a minimum distance (which is why I did my 1000 point test on a Limit Stop).

Yes I agree the Demo Platform worked fine (I could change  stops etc) at the same time as the Real Platform would not let me  make a change  to my Limit Stop.  

I have experienced this loads of times, but it p**d me off so much this time that I had to give vent to my annoyance,

Sure enough after I was stopped out on a Limit, the Price carried on going up as I predicted in my previous post!   

[GraHal]

Further to above ...

Oh and a few mins after the price rise ... all went back to working correctly again ... I could increase my Limit Stop no problem at all!     

Edited January 29, 2020 by GraHal

[Caseynotes]

43 minutes ago, GraHal said:

I just tried to move my limit stop 1000 points away (as a Test) and it still wouldn't accept it ... it snapped back to 6 points above current Price.

it was reading the above that was confusing, the stop loss on a long can't be above the current price, so could not have snapped back to above the current price.  

[GraHal]

1 hour ago, Caseynotes said:

the stop loss on a long can't be above the current price

I didn't say stop loss, I said Limit Stop.

Maybe you refer to it as Take Profit?

Anyway thanks for taking an interest!, It can be a lonely business ... trading!?

[Caseynotes]

24 minutes ago, GraHal said:

I didn't say stop loss, I said Limit Stop.

Maybe you refer to it as Take Profit?

Anyway thanks for taking an interest!, It can be a lonely business ... trading!?

that's true but as per my first post, there is no minimum on the limit stop order (take profit) so if you had accidentally hit the sell button instead of the buy button the stop loss (just labeled 'stop') would automatically be placed 6 points above current price and if you tried to move it down any distance below it would 'snap back to 6 points above current price'.

[GraHal]

No it was a Buy / Long and I had been watching it go up 26 points and was looking forward to quite a few more points judging by the price action.

My Stop Loss was 32 points below my Trade Price but my Limit Stop (of 32) was 6 points away when I tried to move my Limit Stop higher to take advantage  of the momentum and then the Limit Stop just kept snapping back to the 6 points level and kept doing that for several minutes no matter how many times I tried.

I even quickly checked on Demo to make sure my method was correct and I wasn't going mad!  

[GraHal]

I have done the same action many times before and most times it works but more often than I'd like ... attempts to move stops gets locked down, and mostly when Price Action is showing  decent momentum!

Edited January 29, 2020 by GraHal

[dmedin]

2 hours ago, GraHal said:

It can be a lonely business ... trading

Might have something to do with the fact that 68 - 80% of people doing it are losing heaps of money.

[Mncedisi]

On 29/01/2020 at 15:57, GraHal said:

Yes I am on the SB Platform.

But it is as if there is a block imposed on any stop changes ... not just a minimum distance (which is why I did my 1000 point test on a Limit Stop).

Yes I agree the Demo Platform worked fine (I could change  stops etc) at the same time as the Real Platform would not let me  make a change  to my Limit Stop.  

I have experienced this loads of times, but it p**d me off so much this time that I had to give vent to my annoyance,

Sure enough after I was stopped out on a Limit, the Price carried on going up as I predicted in my previous post!   

You are not the only one.

I am on the ProRealTime Platform. I trade the South African cash 40.

On the demo account everything was fine i could adjust my stops and limits and my orders would not be rejected. For example if i wanted to risk R500(rands) of which that R500 would be 100points away from my entry same as my limit. But on the live account firstly my orders get rejected on my laptop and with my smartphone i am able to enter and adjust my stoploss but only when the position is open and the R500 that i want to risk is way too close to my entry. So i do not understand is there something i am doing wrong or what?

[Guest jks]

Happened to me too, what I did was change the value of the stop loss and indeed it would revert back after a few seconds, however when I change the values and logged out immediately after from the browser and logged back in the values are updated.