Do I need to close a trade to take profits in share dealing or can I take profits and let the trade continue?

[veer]

Please help 

[CharlotteIG]

On 13/01/2021 at 17:17, veer said:

Please help 

Hey, 

With share dealing you have to sell your shares if you want to crystalize your profit. 

It's the same with leveraged but people will move their stops closer to the market price meaning that once the market moved out of their favor and hits their stop they're still taking a profit. 

What you can do if say you were holding Tesla stock. You bought at 400 and the price moved to 435 you can put in a stop order to sell at 420 so if the market dropped to 420 or less we would sell your stock. However, you must be aware that with this order type you're giving us instructions to sell at a price or 420 or less. That means if there are orders in the market at 415 we can sell your stock there. 

I hope this helps, 

All the best