Stop loss and limit order at same time

Hi, I’m starting to get some of the Plus features. Are we able to have a stop loss active at the same time as a limit order?

e.g. Price is 9.5. Stop Loss order to sell if drops to 8, Limit Order to sell if rises to 12.

When I set a stop loss the app then displays that I have 0 shares when trying to place the limit order.

Is this possible now and I’m just doing it wrong?

1 Like

I doubt it. Logically, you can’t create a stop-loss on something that you don’t own yet. What is supposed to happen when this point is triggered, but there’s nothing to sell? Seems like this would need special engineering work to be somehow implemented.

No sorry I mean If already own the stock. Basically sell the stock it if either falls to 8 or raises to 12.

1 Like

Haven’t tried anything like that yet, but that seems like something you should be able to do. It’s just having multiple open orders on the same stock. Obviously it would need to delete the stop loss if the limit order was triggered and vice versa.

Yeah I thought it would work. But if you set a stop loss or limit order. When you try to set another one the app thinks you have 0 shares. I don’t know if its a bug or by design.

It’s disappointing as it means I can’t just set and forget. Have to another app still to send me price alerts.

1 Like

Hi :wave:
Yes - it’s possible to have both types of order open at the same time.

It’s not working when I try.

I currently have a limit order to sell all of my shares when the price of a stock hits 12. When I try to set a stop loss order on the same stock , to sell if the price falls, it says I have 0 shares to sell.

It looks like each order encumbers that specific portion of your total quantity for that share.
I.e. If you own 10 AAPL shares, then the sum of the simultaneous orders can’t exceed 10.
Last time I used it, there was also a limit on the number of simultaneous orders for a share (I believe it was 2).

I would prefer not to have these restrictions, but I assume it’s by design to release the first iterations of the functionality and hope that improvements fix it :slight_smile:

Hi @bhapftrade,

Hope you’re well and thanks for raising this. You can place up to 2 limit/triggered orders of each type on a single stock - e.g. you can place 2 buy limits, 2 sell limits, 2 triggered stop loss orders and etc. on a single stock.

When you create a sell limit or stop loss order, we ringfence the shares and update your available balance. If you’ve chosen to sell all shares through a sell limit/triggered order, the balance of your available shares will be updated to 0 and you will not be able to place another sell limit/triggered order for that stock.

Hope the description above makes sense. Please let me know if you have any further questions.

Thanks,

Anant

I’ve a limit order to buy which although the price has come down to and is even below my price has not executed ? Seems to not work more often then not.

1 Like

I think this is a bad design, honestly. It prevents us from - for instance - scheduling two PTs and 1 SL.
I would suggest you don’t count SL as a BUY/SELL operation together with the rest.

1 Like

I would absolutely agree.

I’ve got the same issue today. Ive watched the live price drop below what my buy limit was set at yet no order was executed. Same goes for my sell price that was set on the same stock.
Really disappointing, given this was my first tinker with the new FT Plus. Kinda feel a bit scammed really as it isn’t delivering what its supposed to.

Have you informed them via live chat ? They can investigate. I’m still finding it a little hit or miss - certainly needs work being done to improve, after all we are paying for the service.

@jani
@anantsangar

Did you check if actual sales were made below this price? If yes, that’s on freetrade. If no, that’s just how it is.

Yes, actual sales have gone a few points lower than mine were set at, yet they still remain. Very annoying

I have yes, still waiting for a reply. These kinds of things should have been ironed out during Beta testing. Missed out on a few quid with this, which is what i thought i was paying for.

Hi @ZeddyT,

Thanks for raising this. I’ve sent you a DM to get more information so I can look into this for you.

Thanks,

Anant