Hello to all!some help if anyone can?

[Dereck79]

hello all and its nice to join the forums
i have a spread betting account with IG and last night i placed a bet to NETFLIX when it was down six per cent around 600 points

went to bed and let it at -24 pounds in my account

market opened today and i was -856 the buy price remains the same but the sell price dropped a lot

is this a mistake or something that am not aware of?


any help is much appreciated

 

[tomorton]

SB companies open out the spread at the open every day. Did you note the bid/ask (buy/sell) quotes at the time? What are they now?

 

[Dereck79]

SB companies open out the spread at the open every day. Did you note the bid/ask (buy/sell) quotes at the time? What are they now?

thanks for your reply
i send them an email and they even phoned me and replied via email

you are right have a look at their reply

"The reason that your position currently shows a large loss is due to the wide market spread during the pre market. As Netflix is an 'All Sessions' stock it will trade before the market officially opens at 14:30 UK time. During this time the market spread can be quite large due to uncertainty. Stops and and limits will only be triggered if trades go through the market and we do take large pre market spreads into account when calculating margin calls. When the market opens this spread should tighten dramatically and you should see a p&l figure closer to what you were expecting.
"



as for the bid..it went in my favour by 300 points

 

[tomorton]

Well, often you get away with it but its a damn nuisance when you have a good trade and its stopped out only by a temporarily wide SB spread, while the market chart itself of course doesn't print the extremes of the spread over the day, just the mid-price.

Worth noting that SB charts are not market charts. Also some SB charts show bid price, not mid-price. If stops are tightly placed its easy to get stopped out by pricing, below even the usual market 'noise' or volatility. Very annoying.

 

[Dereck79]

thanks for the info
much appreciated!

 

[kalott]

thanks for your reply
i send them an email and they even phoned me and replied via email

you are right have a look at their reply

"The reason that your position currently shows a large loss is due to the wide market spread during the pre market. As Netflix is an 'All Sessions' stock it will trade before the market officially opens at 14:30 UK time. During this time the market spread can be quite large due to uncertainty. Stops and and limits will only be triggered if trades go through the market and we do take large pre market spreads into account when calculating margin calls. When the market opens this spread should tighten dramatically and you should see a p&l figure closer to what you were expecting.
"



as for the bid..it went in my favour by 300 points

"Stops and and limits will only be triggered if trades go through the market "