Moving my stop-loss to breakeven???

[yessir]

Hi all

I'm fairly new to spread betting, I use IG Index, but I'm having a newbie problem at the moment


When I move into profit on a trade and try to move my stop loss to the opening level, so that if things turn against me I can at a minimum break even.


I keep getting an error message saying i've moved my stop loss to close, even though I'm entering the opening level of the commencing trade????


Thanks in advance for any help and sorry if this info is already somewhere in this forum.

 

[Hoggums]

Hi all

I'm fairly new to spread betting, I use IG Index, but I'm having a newbie problem at the moment


When I move into profit on a trade and try to move my stop loss to the opening level, so that if things turn against me I can at a minimum break even.


I keep getting an error message saying i've moved my stop loss to close, even though I'm entering the opening level of the commencing trade????


Thanks in advance for any help and sorry if this info is already somewhere in this forum.

You can't have a stop loss that is too close to the current price. It has to be a certain number of pips or percentage depending on the instrument.

 

[yessir]

You can't have a stop loss that is too close to the current price. It has to be a certain number of pips or percentage depending on the instrument.

Thanks for the reply Hoggums


I was short of UAL Corp ( us Goldman downgraded them this morning, so I nicked a little bit from them



Opened at = 440.67 / £2.47 pp

stop loss = 485.67


I was trying to move my stop loss to 440.67, when I moved into profit.


Closed = at 424


profit = £41.17

 

[Vaco]

wht was the price at when you tried to move your sl to be if it was too close then it wont let you do it, phone IG and ask them wht the min distance from current price is for stop orders on the instruments you want to trade.

 

[north5]

The IG screen tells you what the min stop loss position can be next to the box to enter it? Can't see how you can get it wrong really.

 

[yessir]

Thanks alot guys, I think i've got the hang of it.

My heads in a spin..... I just stole a few yards, selling Brent Crude.