Hi there,
I’ve been noticing a significant difference in prices on the app lately, currently I’ve a sell position opened with an average cost of $29.18 on VTIQ. however, according to the app VTIQ’s down to $25.81, which means I should be up on the position, however I’m down on the position. I’m aware that there’s an error in the price, but my issue is that it’s quite inconvenient as this issue is reducing funds from of my account when it shouldn’t be. Could you have a look at this error please.
@Fatou When shorting, you should pay attention to the BUY price - which on the screenshot is $31.97, above the $29.18 opening price.
Here’s some more info for a similar question:
Why are you trading CFDs when you clearly don’t know what you are doing? I’m not saying that to have a go but to try save you from losing a lot of money in the future.
You really should research how CFDs work before opening any positions.
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You should also check the huge difference between the sell and buy price before starting a trade. In your screenshot this one was $6!
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Some of us know what we’re doing, when there’s an error in the system it needs to be bought to the company for better user experience. I would advice you to know what you’re talking about before you accuse others of not knowing how to trade. Oh, here’s another screenshot to show you what a difference it makes when the developers are aware of errors.
There is no error. You opened a “sell” position, which has to be closed with a “buy”. So the “buy” price needs to go down the “sell” price at opening the position. In both screenshots, the buy price is still above the sell price when opening the position.
Hope this makes sense. It is the spread.
Dear oh dear. People are trying to give you advice and help. Take the advice!
It isn’t just spread you need to consider but currency fluctuations.
It was a sell order, the price’s changed now you can see it in the screenshot. I’ve been using this app for a long time & I absolutely love the app, there are just small issues I’ve noticed.
Check the quotes for this stock in that period of time. I have changed if to 1minute to get more defail.
It was a ghost town. Apparently spreads can get very wide when this happens.
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No you also have to calculate the exchange rate at position open and at position close. Those can differ. Same as on invest. If you buy a US stock today and sell it next month, the exchange rate is different. You can have profit/loss on those too.
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It is as Chantal said:
((10x29.91) x USD rate on close position) -(10x29.18)x USD rate on open position)
Thus if this rate change is positive , it can boost profit , or if negative it can lower profit.
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Yep I understand, that applies to any investment in a foreign currency. But based on just today opening it it’s roughly that for a few mins in.
Basically he wasn’t looking at the buy price and there’s no fault in the app.