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Newbie - Stopped out !
http://spreadbettingbeginner.com/Forum/viewtopic.php?f=4&t=118		 Page 1 of 1
Author:  firedawg [ Fri Feb 11, 2011 7:03 pm ]
Post subject:  Newbie - Stopped out !
Hi folks,
First post so be gentle !
Fairly new to SB ing - about two months and slowly learning the ropes, reading books etc and making usual mistakes chasing Footsie etc but slowly filtering out bad habits.
Thing is I have a question for the experts out there regarding a trade yesterday.
I was shorting on Betfair on a pound a point after making a few quid on them recently.
My stop was set on 939 and I seemed ok when I checked lunchtime, then when I took a look at around 16.00 I had been stopped out at 15.11 .
Trouble is when I checked the tick chart the highest figure including spike reached was 933.11 .
I phoned the SB firm and asked for an explanation the the girl on the phone said she would have to speak to a MM. She called back and said the cash price had reached 933.11 but I had been stopped out by the spread which reached 940.57 and would send me the chart showing this which has not materialised yet !
So is this correct because I have seen the spread vary today as much as 8 points on Betfair. :roll:

Thanks in advance and sorry for long winded first post.
Mark.
Author:  SB_Beginner [ Sat Feb 12, 2011 9:20 pm ]
Post subject:  Re: Newbie - Stopped out !
Hi Mark,

Welcome to the forum.

Unfortunately it's correct. Spreads can vary massively throughout the day. It's annoying but if you read the terms and conditions from your Spread betting firm you'll probably find that that can do this and you agreed to it by agreeing to their terms and conditions when you opened an account. In regard to the chart you'll probably find that it states somewhere on it that prices are indicative only. So again you'll find pointing that gets you nowhere.

I remember something similar happening to me. I was stopped out and the price was not indicated on the chart and all I got told was that they checked the prices and the first tick of the day was the price I was stopped out at. (Or something like that It was quite a while ago now when it happened).

Just out of interest which spread betting firm are you using? If you've had a bad experience with them why not review them on my spread betting reviews page. Similarly if you've had a good experience review them as well. All reviews are welcome, good or bad. ;)
Author:  offthelip [ Sun Feb 13, 2011 8:59 am ]
Post subject:  Re: Newbie - Stopped out !
I have had this happen a number of times, when it does, I check the London Stock Exchange web which gives you all the trades and the bid and ask prices though out the most recent day, so you can see exactly what prices were traded and what the underlying spread was at the time you were stopped out. It has a good filter which allows you to get the data around the time you were stopped out. Armed with this infomration I have often found that the SB co reinstate the bet, see my second review of City Index just recently on SB begginers review page. For the LSE page see:
http://www.londonstockexchange.com/exch ... 8GBGBXSET1
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