Guaranteed stop loss with sells at market?

• 12/25/2020 at 4:18 PM #155195
  Monochrome

  Does Guaranteed stoploss trigger if you have a condition that sells at market?

  Or is it just for ‘SET STOPLOSS’ code?

  

  Monochrome

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  12/25/2020 at 8:24 PM #155201
  XORANDNOT

  IG terms and conditions say the following :

  (2) We guarantee that when your agreed stop level is triggered in accordance
  with Term 13(3), we will, subject to Term 4(11), close a Limited Risk Transaction at
  that agreed stop level.

  (3) Your agreed stop level will be triggered when our bid price (in the case of an
  order to Sell) or our offer price (in the case of an order to Buy) moves against you
  to a point that is at or beyond the agreed stop level.

   

  So I guess the guaranteed stop loss is also valid when you send a “sell at market” order before the trigger, but the market price really achievable at this time would be worse than the guaranteed stop level. However, it would be interesting to have this confirmed by IG.

  

  XORANDNOT

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  01/04/2021 at 12:48 PM #156211
  Nicolas

  Even if they guarantee a price when SELL AT MARKET, they can’t know in advance what will be the price of the next open (code is read at close and order executed at next open), so I’m not sure it also works in that case, better to ask them?

  

  Nicolas

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  04/20/2021 at 3:14 AM #167559
  Velociraptux

  Hi @Monochrome
  Did you find your answer? Have you done any tests? I am looking for a way to sell my position before the guaranteed stop loss is hit.

  

  Velociraptux

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  04/20/2021 at 9:41 AM #167587
  Monochrome

  Sorry I’ve not tested guarantee stoploss.

  You can still sell your positions , just I don’t know if the new sell stop orders, other than set orders,  will have guarantee protection.

  

  Monochrome

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  04/22/2021 at 1:42 PM #167791
  XORANDNOT

  Once you click “guaranteed stop loss” in automated trading, and set the sl by “set stop loss”, all future stops for this position will be guaranteed. There is no way to switch back to not guaranteed.

  For a new position, you can set the initial stop loss using “sell at xx stop”, which will not be guaranteed, then.

  

  XORANDNOT

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