Hi
I opened a Sell position and from what I can tell, the current price of the instrument is below the Execution and Order prices, albeit only a small amount, however, the current result is considerably in the red.
Potentially a silly question and I’m missing something obvious? Just doesn’t correlate to other positions I’ve opened.
Please see attached screenshots
Thanks
The ÂŁ/$ rate most likely getting you here
Sorry I should’ve mentioned this was shortly after opening the position (and is still similar now), my understanding is that time would have needed to elapse to allow for fluctuations in exchange rate.
At 8.40pm, 8 minutes later the price was -ÂŁ11.49
Just confirming the exchange rate for GBP/USD
Rate at time of execution - 1.24136
Rate at time of screenshot - 1.24241
…nothing in it
Rate at the time of this following screenshot today 2.30pm BST - 1.23865
Is there some sort of handicap or spread I’m missing, I would expect this to be in the green?
It is the difference between the SELL Aand BUY prices. The difference is always against you from the second you open your position.
I’m not sure I follow? The spread is the difference between the Buy and Sell price to the current market price, but my Hertz Sell position is clearly above the current market price, no?
Compare it with this one maybe, what is the difference?
I’m also getting some glitches, this has happened straight after the rollover. Positions opened after rollover are normal but older positions are way off.
@Slyster You opened a SELL order. When you’re short, you should always look at the BUY price, not SELL price (which is the default chart price for CFDs). Hertz’s current BUY price is $1.8648, which is more than $1.7701.
The difference between the SELL & BUY is called the spread.
@tradedemon And what glitches would be that?
Thanks @David, makes sense. I guess that’s what Alien was getting at.
@David is there a way to swap the chart between SELL / BUY on the app?
My only remaining question would be how much volatility there is between spreads on any instrument and whether there is a way to track that but I’m sure I can research that myself.
@David Take a look at the screenshot below.
The sell 0.005 has a loss where as the sell 0.05 has a profit as expected. It just looks way off with the current price.
@Slyster There is on the web version -> right-click -> chart settings -> BUY price chart.
A general rule of thumb - the smaller & less traded an instrument is, the wider the spreads. Hertz is not an Apple, Amazon, or Tesla so you can expect larger spreads.
@David Have you had a chance to take a quick look at the position I’m querying. Just seems a little off to me.
Isn’t that becouse orders have different price? It could be odd if they’ve e been placed on the same price but in your case should be as it is or am I missing sth?
My position in Dji is way off it froze for 20 mins then Rolled over to new contract now I am down massively I tried phoning but the guy was useless and didn’t know what to do so I’ve emailed the but I could do with it sorting ASAP else I can see it costing me massively
@Alexm1996 Your results seem similar to mine in that you have a decent position going short at 26236 but it’s showing a loss of -37.75 which makes no sense as the current price taking margins into account is way below that.
@Alexm1996 Hi Alex. There were no issues with the rollover or the rollover adjustment. Please, check my previous posts regarding rollover adjustments to understand what exactly happened.
The same process is done by all brokers & is generally considered industry standard when trading futures contracts.
