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Partial position close manually & with orders

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Hi,

 

I know that there has been a post 'Partial close limit orders', but to be honest after the answer given there, I still wouldn't know how to partially close a position by opening a new order. In fact when I spoke to the IG helpdesk this week, I was told that it isn't possible to partially close a position on either the new platform or the 'classic' platform via an order.

 

Is this possible or not and could this feature be added?

 

Also, on the 'classic' platform you can currently close out a partial positions by just editing the amount on the ticket, which is great. Is there currently a way to do this on the new platform as it appears that you can only close out the whole position manually and cannot edit it?

 

Thanks

 

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...And just to clarify, this post is with regard to both Spread betting and CFD accounts.

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Good morning all, 

Sincere apologies if you've been told otherwise, and in advance for the lengthy post.

It is possible to partially close (net off) an existing position with an order, however this behaviour has been rolled out to spread betting accounts only.

Limitpc.JPGYou can do so by placing a limit (or stop) order in the NWTP (new web trading platform) and ensuring you have "net off" selected. If you wish, you can set this as a default option in your settings.

Once you've placed a limit order in this way it will net off against any running positions you have. You can use a limit/stop order in this way to partially close by any size you wish, so long as it's above the minimum. 

The same logic applies to orders place on a spread betting account through mobile apps. So if you choose "net off" when placing an order you'll either partially or full close running trades. 

A unfortunate complication is that this does not work correctly when placing an order through charts in the mobile apps, and any orders placed will force open by default. This will be rectified with the next app release.

At present this functionality is not applicable to the classic platform, and order placed through it will always force open. The same applies to orders placed on CFD accounts through the mobile apps. We do intend to roll this out in due course alongside the overall CFD platform release.

Close.JPGIf you wish to partially close an open positions, in a similar style to the classic platform, you can do so by entering the position size after you hit the close button in the positions window.

To do so you must have one-click dealing off, otherwise it is assumed you wish to close the full size. 

I hope this is all clear, do let me know if you have any follow up questions by replying to this post.

It would also be great to hear any feedback about the NWTP, feel free to post suggestions on this post: https://community.ig.com/t5/New-platform-feedback/bd-p/NWTP

Have a great day & many thanks!

Ludwik

 

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Thanks for the info. Currently I can still close a partial position manually on the classic CFD platform and your post explains the other options. Once the CFD platform is released, we can assume that it will have similar functionality.

 

The only other thing that I would like to know is, will closing a partial position ever be available on ProRealTime? I personally trade on ProRealTime charts both for spread bets and CFDs and this functionality would be especially useful for day trading. Although I can open a position on PRT, if I want to partially close it out manually, I have to have the IG platform open as well on a separate screen and open a ticket on that to close the position out partially.

 

If this can be made available on PRT, I would not have to refer to the IG patform at all to trade. This is not such an issue with swing trades, but for day trading, this can make a difference if the market moves quickly against you.

 

Thanks

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Guest Anon

When I set an order to partially close an open position, should i just use the minimum Stop and Limit for that order? Also when I set this order it uses my available funds just to set the order to partially close a position, is that right? As I don't want to open a new position, shouldn't my available funds not be affected?

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