First trade - query

[Guest JTN]

Hi

 

I have just entered into my first trade but had a question.  I have opened a sell order with a guaranteed stop loss.  However, I would like to close part of my trade when it moves in my favour by 50 pips and let the rest of the trade ride further.  I can see how to do this manually once I know the price has moved by 50 pips in my favour.  I can also see how to do this if I want to close my entire position.  However, I will not be glued to my computer screen all day and I only want to close part of my position.  Is there a way to set an order so that when the price moves 50 pips in my favour part of my trade is automatically closed and the rest of the trade allowed to ride? Is the only way to do this to setup a text alert which tells me when the price has moved in my favour by 50 pips and then I can go in and manually partially close the trade?

 

Thanks for your help,

 

John

[HannahL]

Hi  - thanks for your post!  I've just moved it to a more relevant message board and updated the title so other community members can come across it more easily.

 

It sounds like you are looking to split your position, so that you can attach different stops at different levels, without the need to set an alert or sit and watch your trade like a hawk!  This is possible, but you need to call our dealing desk (0207 896 0000) so that one our dealers can confirm the split and process it on your behalf.  You can split a position into two or more parts, equal or not, and with different stops and limits as you wish.

 

I hope this answers your question, but do let us know if you have any more!

 

Thanks,

Hannah

[Guest tradermonty]

Why don't you enter 2 seperate trades?? ...

The first one with an exit or LIMIT set to exit trade at + 50 pips

Then the second trade to ENTER at that level (where you just exited first trade)!! ...

You can set alerts from the actual trade order or from the drop-down where you found your deal ticket

Hope that makes sense?? ...

 

Then as long as you have a phone you can tick the alert box for phone SMS

Keep your trade account info with you, and then you can also enter and exit trades whilst on the go!