Stop problem D4F

[rustic1]

I got caught last night long on the Dow when it turned my stop of 25 points did not kick in I had to cancel it and manually stop it by which time I lost 48 points.

Has anyone else had this problem with stops. I know they do not guarantee it unless it is a G'tee stop but surly it should kick in sooner or what is the point in having a stop. Just when I have started using stops as a follow on order it has made me nervous about them.


Kathy

 

[JonnyT]

If the underlying market gapped through your stop then it's tough. Thats how the market works.

If it didn't then I'd call Deal4Free

What time did this happen?

JonnyT

 

[cashmir]

I have found they can be a little slow in applying stops at frenzied tmes but will apply it eventually.
They generally hit the stop bang on but in a fast moving market like last night you may lose an extra 10 to 15 pts.
Next time let them apply the stop and if there is a significant difference then complain.
Lots of people complain about D4F but I have never had any significant problems.

Cashmir

 

[rustic1]

It was when the Markets dropped quite fast, I understand that but even so still a bit of a kick lost nearly doule than what I should have by applying a stop.

Kathy

 

[Lard42]

Kathy

I have had this situation happen to me, however they have always eventually triggered the stops. The problems is that it often isn't processed until 2am the following day, which can be a bit stressful. Has happened two or three times in the past 18 months.

The first time this happened I did as you did and cancelled the stop and came out a bigger loser. Since then I have always left it and made sure I have the a record of the stop, with screen shots, just in case I need to argue it.

If this happens again and you are unsure you should give them a ring or use their chat function to contact a dealer and get them to confirm the situation.

Cheers

Lard

 

[Hooya]

best thing to do in that situation is call as soon as your stop should have been triggered. before you ask about your stop get a quote from the dealer because then if they dont apply your stop at the end of the coonversation the dealer should still give you the price he quoted at the beginning. BUt I'll be honest with you I have never known my stop not to trigger. BUt as others say it does take some time for it to process imo.

 

[Buk]

agree with Hooya & other comments re the time taken to cover stops....have had 2 occasions with CMC where I've immediately contacted em regards stops failing to be taken out, but both occasions were honoured with no probs!...

 

[darrenf]

same here. never had a problem with stops being honoured, be they the loss or profit variety!

Experienced same issues with instant activation though on occaison. Not helpful but they usually sort it OK with a bit of persistence!

 

[Hooya]

but note imo. If you have a limit to lock in profit and it has not been processed and the market has gone further in your favour. I place a bet if you try to cancell the order it will trigger and locking original profits.

 

[TWI]

Whenever I have had a problem they have always corrected it once I called and explained the problem.

 

[Finirama]

2nd that...just keep a note of when u'r stop was triggered and give them a call

 

[Rainmaker]

I've had similar problems with CMC with regard to limit orders (either to buy or sell). If the market gaps through a limit, it gets triggered at the limit price, not the lower/higher price. However, with a stop (which should work on the same principle), if the price gaps, they will give you the gapped price, not the limit price. This has happened many times to me with CMC and they have been of no help.