Another Spread Betting Issue

[Shanghai]

Well there are often complaints about spread betting companies but I hope that someone can spare the time to give me some advice about this one.

I was monitoring a trade of SIA in the FTSE 250 yesterday. I placed a buy stop order at 1018 at 9.44am as marked on the attached file with IGIndex. The price never reached the 1018 level and all day the order was shown as not being filled (fair enough). However this morning I logged in at it stated that the order had been filled approximately 1 hour later at 1021!. This was the first I knew of it. Had I known I would have scratched the trade at the end of the day as it no longer filled my entry criteria. Of course it opened today, went straight down and stopped me out losing 1% of my account. Did I miss something? Still waiting for the IGIndex reply.

 

[Skill Leverage]

Well there are often complaints about spread betting companies but I hope that someone can spare the time to give me some advice about this one.

I was monitoring a trade of SIA in the FTSE 250 yesterday. I placed a buy stop order at 1018 at 9.44am as marked on the attached file with IGIndex. The price never reached the 1018 level and all day the order was shown as not being filled (fair enough). However this morning I logged in at it stated that the order had been filled approximately 1 hour later at 1021!. This was the first I knew of it. Had I known I would have scratched the trade at the end of the day as it no longer filled my entry criteria. Of course it opened today, went straight down and stopped me out losing 1% of my account. Did I miss something? Still waiting for the IGIndex reply.

Sorry I completely misread the OP, that is weird.

 

[foredog]

morning

Bad news i'm afraid, i've just had a quick look at yesterdays time and sales and at 1009, 33 shares traded at 1018 and 927 and 300 at 1019, thus triggering your buy stop, looks ,ike someone just took the offers upto 1019 on the order book and then the 1016 reloaded.

thats the problem with leaving limits in these very thin stocks, although you get good moves sometimes it triggers a trade at a silly price

 

[Shanghai]

morning

Bad news i'm afraid, i've just had a quick look at yesterdays time and sales and at 1009, 33 shares traded at 1018 and 927 and 300 at 1019, thus triggering your buy stop, looks ,ike someone just took the offers upto 1019 on the order book and then the 1016 reloaded.

thats the problem with leaving limits in these very thin stocks, although you get good moves sometimes it triggers a trade at a silly price

Ah thanks foredog. Appreciate you looking into that. It's never money wasted if I can learn a lesson and I guess the lesson from this is not to place automatic orders in the market when I am trading outside of the FTSE 100, especially if I am sat in front of the screen all day anyway. It's ended my longest winning streak too. Bugger!

The other point though is that throughout the day the order was shown as not being filled. That does annoy me though as I had no chance of scratching it before the close.

 

[foredog]

I'd take up the order still showing with them, make the point you'd have traded out of it if you'd known, never know they may give something back as a goodwill gesture.

it's still a bit dogy in some the FTSE100, they can still be very thin and can trade in only a scrap a few pence away the back to normal...beware!

 

[sdpbroker]

Re

Nice discussion, I am total agree with foredog.