help with a trade.

[ketank]

Hello all,


I’m sure this will be easily answered!

I have paper traded the following trade and don’t exactly know what would of happened.

I brought BSY at 546, my SL was at 541

According to finspreads live charts and data, the Day high was 551.7
Day low was 541.5

I have no doubt my order at 546 was filled but was my SL hit or not?
Is day low 541.5 the actual spread low or market low in which case I would have been stopped out, as spread must have been more than 0.5…. right?????

Thankyou

 

[TWOHATS]

Hello all,


I’m sure this will be easily answered!

I have paper traded the following trade and don’t exactly know what would of happened.

I brought BSY at 546, my SL was at 541

According to finspreads live charts and data, the Day high was 551.7
Day low was 541.5

I have no doubt my order at 546 was filled but was my SL hit or not?
Is day low 541.5 the actual spread low or market low in which case I would have been stopped out, as spread must have been more than 0.5…. right?????

Thankyou

erm no cos ya spread would have been above the 541.5 sort of 540.5 - 541.5 on the way down.I've found with finspreads that they have an amazing talent for finding ya stoplosses so i now dont put one in i just keep it in my head

 

[ketank]

I'm Confused....

I agree if my SL was 541 than yes the spread would be 540.5 - 541.5, so that would mean that my SL would be hit at 540.5 (or nearest) If finspread low is a Market low...

If 541.5 was a spread low than my SL wont be hit..... because it was 0.5 away..?

this that right or have I got it wrong? Please give me an Idiot's guide......

Thankyou!!!

 

[andycan]

if finspread have a low of 541.5 and your SL is at 541 then NO you should not be stopped out
i would suggest you contact them and simply ask how your position stands or stood
if you want to know more about how spreadbetters work look up threads relating to SB or the company itself

good luck

 

[stevespray]

You could just rings fins and ask them. It will be the only definative answer that you get on the subject.

Steve.

 

[ketank]

HARRAY>>>>>>>


Got the answer, rang them this morning but I got the feeling that representative didn’t know the answer or didn’t understand the question so gave me a wrong answer…

Spoke to someone else just now and it seems that FinS day high and low are mid points.
So I would of been stopped out as the spread was more than 0.5, if the day low was 541.5

Thanks all

Case closed.

Also I’m moving to E-trade there spreads are so much closer for ftse 100-250 stocks (Think in general really)

 

[damianoakley]

Hi ketank,

If it was me papertrading, I would assume the worst case scenario and assume that you have been stopped out.

During paper-trading, it is always best to work to worst-case scenarios so that you are not being overly optimistic when trading for real.


Thanks

Damian

 

[TWOHATS]

sorry ketank i confused the situation with my first reply lol ya price on the way down would have been for example 542.5 - 541.5 so it would have bounced off the low before it hit ya stop but they have a knack of confusing ya on the phone i would say if that was the low of the day then ya mid price would be somewhere between 542.5 and 541.5. i reckon they use that as a bit of a stoploss killer. like i say keep one in ya head and stick to it just dont put it on (for them to see and hit) not that they would of course