Spread Betting Orders

Shanghai

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A fairly basic question so I thought I would put it here rather than in the spread betting forum. I did a search but couldn't find a suitable answer.

I am familiar with Limit Orders where you set an order to buy at below the current price or an order to sell above the current price but if i want to move in when a trend starts I want to place a buy order just above the current price. Is there a way to do this with spread betting? I'm with IG Index.
 
A fairly basic question so I thought I would put it here rather than in the spread betting forum. I did a search but couldn't find a suitable answer.

I am familiar with Limit Orders where you set an order to buy at below the current price or an order to sell above the current price but if i want to move in when a trend starts I want to place a buy order just above the current price. Is there a way to do this with spread betting? I'm with IG Index.

Yes.

Orders to BUY above current market price are placed as a Buy STOP order.
Orders to SELL below current market price are placed as a Sell STOP order.

No different to Direct Access.

When you place your order with IGindex you will be asked for a protective STOP as well. Don't be confused, this is the same as with any other order you open, ie market or limit. The protective stop is placed a number of points away from your opening order.

Just to recap:

-Buy Limit (to open) with protective Sell Stop is placed BELOW current market price.
-Buy Stop (to open) with protective Sell Stop is placed ABOVE current market price.
-Sell Stop (to open) with protective Buy Stop is placed BELOW current market price.
-Sell Limit (to open) with protective Buy Stop is placed ABOVE current market price.
 
Thanks very much new_trader, just what I needed to know. Seems that the facility for a buy stop is located on the "order to open ticket" as I just discovered.
 
Just to recap:

-Buy Limit (to open) with protective Sell Stop is placed BELOW current market price.
-Buy Stop (to open) with protective Sell Stop is placed ABOVE current market price.
-Sell Stop (to open) with protective Buy Stop is placed BELOW current market price.
-Sell Limit (to open) with protective Buy Stop is placed ABOVE current market price.

Hello All,
Could someone please kindly confirm there are "Buy Stop" and "Sell Stop" type orders in spread betting. I have checked a couple of other "spread betting" operators with demo platforms - there seems to be no such order types.

I know there are such orders for CFD and Forex trading platforms, but what about Spread Betting ???

Thanks in advance for your help !
 
Last edited:
Hello All,
Could someone please kindly confirm there are "Buy Stop" and "Sell Stop" type orders in spread betting. I have checked a couple of other "spread betting" operators with demo platforms - there seems to be no such order types.

I know there are such orders for CFD and Forex trading platforms, but what about Spread Betting ???

Thanks in advance for your help !

Certainly are with IG. I'm sure others will offer them too.
 
thanks ns1000. Got today a demo on spread betting with one of the uk "spread betting" operators - and wow. There are even more order types, than in MT4 ;) Exciting stuff
 
thanks ns1000. Got today a demo on spread betting with one of the uk "spread betting" operators - and wow. There are even more order types, than in MT4 ;) Exciting stuff

I use GFTUK as my brokers and they have some great seminars & webinars which clearly explains all their order types.

I find examples easier to follow, so here goes:

Let's say the current quoted price is 1.5

To OPEN a LONG position:
1)To go LONG at a price > 1.5, place a STOP BUY order
2)To go LONG at a price < 1.5, place a LIMIT BUY order

To OPEN a SHORT position:
3)To go SHORT at a price > 1.5, place a LIMIT SELL order
4)To go SHORT at a price < 1.5, place a STOP SELL order

To set your STOP LOSS for the LONG position
1) 2) Place a STOP SELL order

To set your STOP LOSS for the SHORT position
3) 4) Place a STOP BUY order

To set a PROFIT TARGET for the LONG position
1) 2) Place a LIMIT SELL order

To set a PROFIT TARGET for the SHORT position
3) 4) Place a LIMIT BUY order
 
I use GFTUK as my brokers and they have some great seminars & webinars which clearly explains all their order types.

Thanks for our reply. I have tried GFT myself and they do have a nice set of conditional orders, a way better than the other provider I have tried earlier.
Cheers
 
Hi guys,

A quick question, please.
Is there an option to set set "trailing stoploss" manually, when opening a new order in dealbook platform?
for exmaple:
1) instantly sell eur/usd
2) if price reaches certain level (to my advantage) then - activate "trailing stop-loss".
I am talking about "manually" placing the order on the server and logging off from the server, so I do not need to run dealbook all the time.

I can do this in MetaTrader, but then I need to run "adviser" all the time.

Thanks a lot in advance.

PS I know I can register and try DealBook, just hoping you can give me a quick hint here.

Cheers !
 
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