Pending STOP or LIMIT orders are not affected by the guaranteed stops and should work like the way they did before.
The only instructions that are using Guaranteed stop are the ones with SET STOP
Pending STOP or LIMIT orders are not affected by the guaranteed stops and should work like the way they did before. The only instructions that are using Guaranteed stop are the ones with SET STOP
Ok, so let me ask once again :
Let’s assume, I open a long position at a price of 12350. I then set a guaranteed stop at 12250 by
set stop ploss 100
immediately at the opening of the position.
A few bars later, there is a condition that says :
If condition then
sell at 12250 stop
endif
which appears in the code below the “set stop ploss 100” command.
Will this delete the first guaranteed stop, and set a new, non-guaranteed stop at 12250 ?
So, is this a way to convert a guaranteed stop into a non-guaranteed one ?
Remember, all stops are saved (or changed) in IG’s system.
I should have read the whole new information. The box for guaranteed stops says :
[attachment file=65733]
“When a limited risk position is opened, the guaranteed stop cannot be cancelled.”
So apparently it will not be possible to use “sell at xx stop” commands after a “set stop ploss” command for the same position.
Do I see this correctly ?
I just made a quick test on my demo platform, the “SELL AT XX STOP” override the “SET STOP LOSS” instruction.
[attachment file=65736]
The stop type is “G” = guaranteed. So the conclusion is that the SET STOP LOSS has guaranteed the stop level but had then been overridden by the pending stop order ..
Yes. But it remains still a guaranteed stop at 12150 (Type = G). So, once you place a guaranteed stop with set stop ploss, it will remain guaranteed forever, as your image shows.
Right ?
That’s right.
Another test with only a STOP pending order, no guaranteed stop this time.
[attachment file=65740]
So this means, we can open a position and set a non-guaranteed stop first using
sell at xx stop
and convert this later into a guaranteed stop by
set stop ploss xx
but not the other way round.
This is still a good option to set guaranteed stops only over the week-end, for example. Even if they remain guaranteed on Mondays then.
No, unfortunately this does not seem to work. I have tried several test systems in a 1 minute chart and it appears to be like this :
Once a stop type has been chosen for a position (guaranteed or non-guaranteed), it will stay this type forever and cannot be changed thereafter as long as the position is open. So, when the first stop of a position is set as a non-guaranteed stop, even subsequent “set stop ploss xx” commands will not change the type of stop to guaranteed. It remains type N.
When the first stop is set as guaranteed by “set stop ploss 100”, this stop can be even deleted completely in the next bar by “set stop ploss 0”, but the IG system remembers that the stop is type G, and a following “sell at positionprice – 100” sets a guaranteed stop once again 100 points away.
I have also checked that it is not yet possible to change the stop type of an open position from non-guaranteed to guaranteed at IG’s old website directly, although they told me that this will be introduced later on. Maybe we will only have to wait a while to do this.
@Ulrike : I just called IG, and they told me that on their mobile applications, it is already possible to change the stop type of an already open position from non-guaranteed to guaranteed.
They said that ProRealtime could code their software too in a way to make this possible. Could you please think about this, and work with IG to make it possible, when live trading starts with guaranteed stops ?
This would be very valuable for many of us, I think.
Hi verdi55,
I transferred all information to our development team.
Best,
Ulrike
EricParticipant
Master
Now i have Gstops on live account also
Hi!
I checken the guaranteed stop on some of my live strategies. It seems like all stop orders are guaranteed now. The set stop loss command and sell at x stop order are guaranteed. The fees take a LOT of profit from short term strategies!
@Nicolas didnt you say that only the set stop loss command herre sopposed to be guaranteed?
Best Regards
Henrik
@Henrik
You can check my discussions with Verdi, starting from this post
Fr7Participant
Master
Hello Nicolas,
Do you know if there is a guaranteed stop from the percentage like? : SET STOP% LOSS 3
An example of a 3% guaranteed stop since the purchase or sale position is opened, could be: set stop% ploss 3
