Making Stop Loss Orders is too slow, solution (Stocks, not CFD)

đź’ˇ Feature suggestions & ideas
1

There’s a simple but great loss prevention technique that – after entering to a position – as the price of the stock raises, we make the Stop Price follow the stock’s price. For example we bought the stock at $10 but it’s already on $12 so we set the Stop Loss level to $11. The price raises to $13 so we set the Stop Loss level to $12.

Now the problem is, setting an order is very cumbersome:

  1. (Remove the previous Stop Order: click the Pending Orders, click to the remover (X) button.)
  2. Click to the Sell Button again.
  3. Click to the tab.
  4. Slide the amount slider.
  5. Enter price.
  6. Click to Review Order.
  7. Click to Send Order.

The solution is already there: we can place lines on the chart with two clicks. So, it’s obvious: we could place Sell Stop Orders, too, with the same method, super-fast. Also, we should be able to move the previously dropped Stop Order line but I know that we can’t modify an order, but it’s still fast enough to

  1. remove the previous Stop Loss level just like we remove a price alert with one click.
  2. then place the new Stop Loss level with 2 clicks. Okay, the possibility of modifying an order (in this case, by drag&drop) would be the best but I don’t want to ask too much. (Anyhow, on the front-end, it still could act like an order modification, even if it’s a [remove + new order] process in the back-end.)

It’s practically could be the best if the Sell Button would be draggable, so we could drop it to the chart like we drop a line object on it. Or anything else you find to be developed easier.

This could be a huge advantage mostly for day traders. Things happen fast, for us.

Thank you!

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2

Hey,

Thanks for the suggestion, we highly appreciate your time spent writing it down.

However, the type of order you refer to has a similar function to the Trailing stop, which is more suitable for the CFD type of trading.

At the moment, we do not have it in our pipeline, and if we implement it in the future, we will update you on this.

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4

I mean there’s reaching and then there’s statements like this.

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5

Thank you for your response.

It’s interesting that the function is told as more suitable for the CFD type of trading. (I don’t use that, not even familiar with it.) This function is best (or just awesome) for scalpers and day-traders but scalping is prohibited on the CFD platform.

The problem is, dear Hris, that this function helps traders to make positions more profitable which counterweighs lossy positions, leading to a higher account balance in case of a distributed trading which is the standard. Which means: this is about traders’ money, and traders’ money is about traders’ life. (In my case, it’s a life to be fixed. Trading is not a plaything.)

All I ask is, please prefer our money, prefer our life, make this aspect the primary viewpoint of what’s in the pipeline and what’s not. Thank you. :slight_smile:

6

Hi, @Vendrel

Without a doubt, such functionality can be helpful in some of the different investing strategies, like “day trading”.

On the other hand, our Invest service is more focused on long term investing, hence why the Trailing stop is currently available only on CFD (where the rapid price movement can have a collateral impact on the open positions and overall strategy).

Your feedback is taken into account, that’s for sure. However, the tool is not in our pipeline.

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