L_McNamara
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Hi there!
My partner and I wish to change broker. We are struggling to find a broker which offers the following:
(I'm not talking about spread betting)
I’m looking for spread stops on two equity CFDs. To get the spread you divide the long price by the short price = spread.
I’m not asking to trade the spread, only to have our stop loss relative to the spread (as a risk management overlay). Apart from that the trade would be “as normal”.
For example a 10% stop loss on the spread between my long/short pair (idea) for a typical time horizon of 3-6 months or on an intraday basis as the market is currently.
This doesn't have to be a feature built in to the platform, a phone order will work.
Example:
To work out 10% stop loss: long/short = spread: *0.9 = stop loss...... e.g. 100/50 = 2 *0.9 = 1.8. So if the price reached my stop (1.8) loss differential it would automatically trade out of BOTH the positions at the same time, immediately.
Can you suggest any brokers/contacts who offer this type of functionality? I've called 16 brokers within the UK with no luck on equity CFDs.
Queries:
1: Does anyone have experience/knowledge in this arena to help?
2: Do you know a broker which offers spread stop loss overlay on an equity pair/
Many thanks in advance,
Liam
My partner and I wish to change broker. We are struggling to find a broker which offers the following:
(I'm not talking about spread betting)
I’m looking for spread stops on two equity CFDs. To get the spread you divide the long price by the short price = spread.
I’m not asking to trade the spread, only to have our stop loss relative to the spread (as a risk management overlay). Apart from that the trade would be “as normal”.
For example a 10% stop loss on the spread between my long/short pair (idea) for a typical time horizon of 3-6 months or on an intraday basis as the market is currently.
This doesn't have to be a feature built in to the platform, a phone order will work.
Example:
To work out 10% stop loss: long/short = spread: *0.9 = stop loss...... e.g. 100/50 = 2 *0.9 = 1.8. So if the price reached my stop (1.8) loss differential it would automatically trade out of BOTH the positions at the same time, immediately.
Can you suggest any brokers/contacts who offer this type of functionality? I've called 16 brokers within the UK with no luck on equity CFDs.
Queries:
1: Does anyone have experience/knowledge in this arena to help?
2: Do you know a broker which offers spread stop loss overlay on an equity pair/
Many thanks in advance,
Liam