Jump to content
Sign in to follow this  

Partial position close manually & with orders

Recommended Posts



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?




Share this post

Link to post

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

Share this post

Link to post

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!



Share this post

Link to post

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.



Share this post

Link to post
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?

Share this post

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
    • Total Posts
    • Total Members
    Newest Member
    Joined 19/10/19 18:34
  • Posts

    • do you trade on CFD's?
    • Hey @dmedin. That news piece is something I long suspected. If anyone can move the market with just one tweet then why shouldn't the cronies profit from it. I'm just surprised this has taken so long to get to the "news".
    • Ok, so I took this approach to the next level. Rather than telling the algorithm enter long at 25% and enter short at 75% levels, I decided to let the algorithm decide itself at what levels its best to enter short or long. This simplifies the strategy and boosts its gains dramatically. Top level stats over 100,000 5min candles: Gain: +1,307% % of winning trades: 60% Starting with a £2000 account, after 1 year and 1 quarter that account would have grown to almost £30k (£28k). The equity curve looks also a lot more stable, too. I resolved the issue with the lot size, this is now a formula. Unfortunately we still have 3 negative months, but overall the max runup is a lot higher than the max drawdown. Overall time in market is only 20%, so there should be the opportunity to run multiple of this strategy on different assets simultaneously to further boost the return. If let's say 3 of these programs could run simultaneously and deliver similar results you could grow £2000 to £100k within about 18 months. Still not as good as the results of the few world-class top traders like Ross Cameron from Warrior Trading, etc but a start nonetheless. The variables which the program optimised are the following: Take Profit for Long Positions: 84 points Take Profit for Short Positions: 70 Points Entry LvL for Long Positions: 23 Points below the low of previous day Entry LvL for Short Positions: 7 Points below the high of previous day Interestingly, it turned out the strategy works best without a set stop-loss, but just to close out any open positions at 21.00 o'clock at night, if not already closed by the take profit rule. I'm gonna simulate this on NASDAQ next. Obviously will need to find out the 4 variables again, as these will be subject to the Index where this is traded.   What do you guys think? Worth a shot this strategy?