Ttrailing stop changing its mind

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  • 05/21/2020 at 3:44 PM #132623
    nonetheless

    If the trailing stop changing its mind wasn’t bad enough it is now failing to activate at all. See attached.

    Position is opened @ 24603.1, stoploss is 1.9% @ 24135.6

    Trailing start is .26%, meaning 24667 which is the pink dashed line. 2 candles close about that level but the trail doesn’t start. Stop stays at 24135.6

    Then the price retraces, and instead of closing for a small profit, it’s making a loss.

    Is there any conceivable explanation for this, or should I report it to PRT?

    05/21/2020 at 4:04 PM #132627
    nonetheless

    Hello moderators, can this be moved to Platform Support please, I would very much like to have an answer. I am losing money as I type!

    05/21/2020 at 4:10 PM #132631
    robertogozzi

    Done!

    05/21/2020 at 4:12 PM #132632
    nonetheless

    Thanks Roberto. What do I do now? The position eventually closed at a loss. IG have announced a ‘Major Outage’ but are not answering the phone. Who is responsible?

    05/21/2020 at 4:15 PM #132633
    Francesco

    Ehi @nonetheless, are you referring to the MoD Dow? I noticed this for the first time an hour ago and the system got stopped. But i think the problem is related to the platform, not to the system.

    05/21/2020 at 4:24 PM #132635
    nonetheless
    Francesco wrote:

    are you referring to the MoD Dow

    Yes, exactly. Did yours also open @ 24603? When did your system stop? Did you have any other open trades?

    And yes, it does seem to be a platform issue, which presumably affected thousands of trades. I’ll have to take it up with IG.

    05/21/2020 at 4:29 PM #132637
    Francesco

    Yes i am referring to that position, the stop of the system was at 16.35 GMT+2. I also noticed that the IG platform was inaccessible for some time, that is not correct at all.
    I placed a random stop loss now hoping to come back to 0€ gain, but the markets are not helping 🙂

    1 user thanked author for this post.
    avatar nonetheless
    05/21/2020 at 4:44 PM #132639
    nonetheless

    When you the system stopped, do you mean IG? I’ve had back tests running on PRT all day and they’re still going as normal. But by the time I could see that something was wrong with that position I was unable to close it manually, not through PRT or the IG web platform – no access.

    My position closed at 16:05 London time and I lost £25. Now I’ll have to fight IG for it (who will prob try to blame PRT)

    05/21/2020 at 5:04 PM #132640
    Francesco

    Here’s what happened: the system opened the position at 24603. The price went in gain and the trailing stop was triggered, but when the price dropped into the trailing stop level at 24616, the system did not close the position but failed and the platform stopped the algo.
    I took in control the position left open and closed with very small losses luckily.
    Image in attachment.

    05/21/2020 at 5:05 PM #132642
    Nicolas

    I have no information about the problem.  But if you can’t close the order through your broker interface, it seems only related to them. Will try to know more today despite the bank holiday..

    05/21/2020 at 5:08 PM #132643
    Nicolas

    FYI

    https://status.ig.com/

    Update – We are continuing to investigate this issue.
    May 21, 15:50 UTC
    Update – We’re extremely sorry for the issues experienced earlier. Our services have resumed to normal and we are monitoring the status. Please logout and log back in.
    May 21, 15:27 UTC
    05/21/2020 at 5:18 PM #132645
    WildBill

    The outage of IG today makes trading via PRT akin to playing with a loaded gun in the dark.  Luckily  today i managed to get most abandoned at sea type trades closed manually without to much of a loss.  My current view is now is backup emergency fixed stop loss needs to be embedded in all strategies or else  you could easily blow your account especially if the markets went off a cliff for some reason.

    05/21/2020 at 5:26 PM #132649
    nonetheless

    Thanks Nicolas, it does now seem to be entirely an IG issue, which is ‘some’ relief.

    Francesco wrote:

    the trailing stop was triggered

    Thanks very much for posting that Francesco, might help me if I have to show IG where the position should have closed – ie 24616 instead of 24464

    So annoying when you can see that the algo was doing the right thing and would have done what it was supposed to do — if not getting fouled up by a platform issue!😡

    1 user thanked author for this post.
    avatar Francesco
    05/21/2020 at 6:22 PM #132672
    nonetheless

    Quick follow up: IG refunded the loss and added a small profit that the trade should have made, no drama. All’s well that ends well.

    2 users thanked author for this post.
    avatar Francesco, avatar GraHal
    05/21/2020 at 6:56 PM #132680
    GraHal

    One guy on the IG Forum earlier … stated that he was £2k in profit, but then ended up with a £6k loss!

    Bad day for IG!?

    1 user thanked author for this post.
    avatar nonetheless
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