IG MAXIMUM stop distances?

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

  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.

  

  Vonasi

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

  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!?

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  swapping

  

  GraHal

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  03/31/2018 at 3:47 PM #66873
  verdi55

  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 ?

  

  verdi55

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  03/31/2018 at 4:25 PM #66874
  Vonasi

  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.

  

  Vonasi

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