Stop loss or Stopping the loss

After yesterday’s “blip” in the system and quite a few of us with no replies or solutions (as yet), do people think it’s a good idea to remove SL today for the opening of US markets? It all seems to correlate with that time frame as to when it all occurred.

Do we put in our SL or do we take the risk in stopping losses due to technical errors?

50/50 myself as to what to do at this point so any hints/tips would be greatly appreciated

Depends on the person really. I personally run without Stops.

But, T212 did mention they would compensate if it was a glitch, which they are going through case by case.

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Same. I don’t use stop losses. I use trailing stops, but I set them when in a good profit. Most of the time stop losses result in more losses than profits.

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When you say in good profit what do you mean? Apologies for the noob question it’s all learning for me at moment with this. I’m traditionally crypto trading so don’t do this kind of trading usually lol

For example I open a long position on US 30 with CFD And the price (Dow Jones index) has gone up 100 points, I set a trailing stop with a distance of 100 points. So if the price would drop 100 points I would get out break-even and have no loss.

As long as price keeps going up (it has 100 points room to go up and down) my trailing stop will go up too. This can take a while. Even when you set a trailing stop at 200 points.

If the market goes against me, so I will be in a loss I will just wait until the market reverses. In the past I used stop losses and got stopped out and 15 mins later the market reversed.

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Thank you very much for the explanation. Going to put it into practice now

Good luck. Don’t set them too tight. The further away you set it, the more room a price has to go up and down. Depends on the instrument what the right distance is.

So, if I’m right in understanding what your saying you set the trailing stop only and don’t include a stop loss?

Yes… Stop loss a set level. Trailing stop moves at a maximum distance.

Example:
Price is 100. You go long. Price is 110 and you set a trailing stop at a distance of 10, which is 100. Price goes up to 125. now your trailing stop is at 115. If price would go down to 115, you will get stopped out, but you have 15 as profit. So you protect a part of your profit.

Same is possible when going short.

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Ahhhh makes it crystal clear now my friend :slight_smile: thank you very much!!

Welcome :slight_smile:

I can confirm they are compensating. I know it’s easy to say but be patient. From what I’ve experienced my account is back to the price when all my trades were live. I don’t think they will be able to reopen trades how ever would you want to? It’s been a big sell off day. If you get your money back use it to your advantage.

I’d be happy with funds returned but if trade was put back I’d also be happy as was long on Barclays when it occurred and it is coming to fruition at moment although, my original SL would have been triggered the loss would only have been £4 rather than £104 due to blip

Well if that’s the case and they refund your money then you may be able to buy back Lower? Anyway as I’ve stated there seems to be a big sell off so I’ve stopped worrying about having the trades back on.

I’d just like to ask the staff is it safe to trade again? Has the issue been fixed?

I’ve been trading and recouped my losses but the loss occurred due to glitch will be much appreciated when returned

How do you set trailing stop ??

Only works on CFD, not Invest

Can someone provide good readings or videos about CFD, would like to learn more. And q about practice account if I open practice account if due learning I will finish with 0 will there be chance to open another one again with 50000?

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Yes you can just reset the 50k if you lose it