I have a huge problem with how the app UI displays stoploss and limit orders as well as how you are unable to place a limit with a clear stop loss. This is so basic it is ultra frustrating.
I believe there are a few critical errors with the current UI. Why do you not set the Purchase price at the top where the number of shares is selected? Why is the price called Limit? Why have such prominent help text in order to explain concepts? This is critical real estate and the concepts should be focussed on the execution details.
An order is simply a ticker and a price, market orders avoid setting the price and ask for the best price. This is all that it needs.
Once a price has been established THEN both a STOP or LIMIT should be added to that. Both of these are also just prices, both sell orders.
I see no reason why you shouldn’t be able to set both of these easily as options on any buy order, rather than having to pick 1 of 4 types or purchase?
I also appreciate that the way this works in practice is that two orders are made as soon as the purchase is executed when the stock is owned.
This is so basic and it should be so much simpler, but the way it is structured and worded on 212 is so ODD!
I provide the clearest and simplest view of this with 2 checkboxes from tradingview. I believe you should copy this UI to make it clear understandable and follow conventions, the current app does not work in this way.
Please use checkboxes so that any order can be setup correctly.
Please allow purchase price to be set clearly as a number you want the trade to execute on.
Move the help text into a clickable ? so that it doesn’t take so much real-estate.
Thank you for taking the time to write such detailed feedback - it’s appreciated.
Any order consists of a “ticker” (identification for the instrument), a direction (Buy/Sell), a quantity (how much you want to trade) and a price limit. Market orders are filled at the best available price when they’re executed - you can’t set a preferred fill price using this order type.
Stop-Limit are not orders where you have a Market Buy and set your Stop Loss and Take Profit for that position. The Stop-Limit order is converted into a Limit order once its Stop price has been met. Then, the newly active Limit order will be executed at its target Limit price or a better one.
The Stop-Limit is not an option you add to your order, it is an order in itself, a way to enter or exit the market.
For equities, we do not offer Take Profit and Stop Loss in the same way that we do for CFDs. You can manage your exposure by using pending orders like Limits, Stops, and Stop Limits.
Currently, you can hide the text. To do so, tap & hold on it and select “Hide hint” or “Hide all hints” from the options.
Still, we understand your points and that you’re interested in having something closer to our CFD platform but for EQ.
So I might have been confusing with the terminology (another issue I find with 212).
I want to set STOP LOSS on any ORDER and a TAKE PROFIT price on any order. So that at the point of execution I can create a LIMIT ORDER with a STOP LOSS and a TAKE PROFIT target. I can see this is possible in CFD, but why is it not available in the ISA or share dealing accounts. The UI for the current setup uses similar terminology but the wording on it is confusing. It also is impossible for me to setup a stop loss on my orders which is really dangerous.
Yeah and having it happen on the execution of the order is the critical thing. I want to be able to make a trade, set a stop loss and close the app. It seems crazy that this basic functionality isn’t possible on ISA or Stock Trading only CFD?!
Why have a feature that only works on one section of the app?
that was an eye-opener, as I realised there were at least twice as many types as I realised. Certainly T212 could explain things better - as could any site. “Instructions” are sooooo last-cantury. The “method” now seems to be to let people play about to learn - even if it loses them money. Presumably it isn’t worth employing more people to get details perfect. (Eg by thorough testing).
You can try asking the bot, but it often gets things wrong.
Then on some platforms you can have conditional execution, sequential execution which splits into branches, four different types of trailing stop loss, and so on and on. Or “Take some out” of a CFD order position as the probability of its extended profitablility reduces. And you can set the whole thing up on a single key-click, on the screen rather than in a box. T212 assuredly know this. Much quicker and more profitable, but how many users would want the complication?
We have to remember that T212 isn’t trying to be the best platform or the simplest one. Its primary purpose is to make money, not to allow trading.
Competent management recognises a profitable niche in the market and adapts the operation to fit that, at the most efficient point on the cost/benefit curve.
STOP AND LIMIT ORDERS EXPLAINED​:green_circle: for OANDA:EURUSD by ProSignalsFx — TradingView