IG MAXIMUM stop distances?

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  • 03/30/2018 at 9:30 PM #66833 quote
    Vonasi
    Moderator
    Master

    Having now been reduced to a ridiculous useless limited risk IG account I find myself in need of having to set unnecessary guaranteed stop losses on all my trades.

    So how do I find out what is the maximum stop distance allowed for each and every instrument traded. Google has been no help and IG just witter on about minimum stop distances. Yesterday I traded manually and was informed that my stop distance was too large (so I missed my entry point!) but I was not informed what level was just large enough for a stop loss. The problem (not the only one) with limited risk is that apparently once you set a stop loss it can not be moved further away from a position only closer – so experimenting to find out could be very expensive.

    Or is the maximum stop distance based on your account balance?

    I could ask IG I guess but so far my customer service experience to date has just made me angry and resulted in no answers of any use.

    03/30/2018 at 10:16 PM #66837 quote
    GraHal
    Participant
    Master

    Thank you for this appraisal (and recent others) Vonasi, I am sorry to hear of your frustrations!

    It’s as if the Authorities that invent these new nanny state rules have never traded and don’t understand the full ins and outs / mechanics of executing a successful trade!?

    swapping thanked this post
    03/31/2018 at 3:47 PM #66873 quote
    verdi55
    Participant
    Veteran

    With a limited risk account, margin is always stop distance * number of contracts. So, when you want to trade 10 DAX mini contracts and set the stop 2000 points away, you need at least 20.000 € in your account. Maybe this is the reason ?

    03/31/2018 at 4:25 PM #66874 quote
    Vonasi
    Moderator
    Master
    verdi55 wrote:

    With a limited risk account, margin is always stop distance * number of contracts. So, when you want to trade 10 DAX mini contracts and set the stop 2000 points away, you need at least 20.000 € in your account. Maybe this is the reason ?

    This is what I suspected which makes the account pretty unusable unless I want to give all my money to IG via stops that I don’t want that are set too close. No wonder beginners lose all their money getting stopped out by the very same stops that are supposed to save them.

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IG MAXIMUM stop distances?


General Trading: Market Analysis & Manual Trading

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Vonasi @vonasi Moderator
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This topic contains 3 replies,
has 3 voices, and was last updated by Vonasi
7 years, 10 months ago.

Topic Details
Forum: General Trading: Market Analysis & Manual Trading
Language: English
Started: 03/30/2018
Status: Active
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