Closing a losing position at less loss

For example, if I have an open position that has no SL order, and the position is in loss of £10, and I want to place an order to close it if the loss is £6. How can this be done?

You’d modify the position by adding a TP with an amount £4 above the current price.

So you click on the open position and then click on the green Take Profit button and then enter the specified ‘dollar’ amount.

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Thank you.
Didn’t know I can place a “negative” TP order.

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Ah an interesting question you’ve posed in your response there, OK one moment please…

@Alien I’m sorry, I was wrong, I checked now in my demo account and it won’t let me enter a negative TP.

So all I can think of is open a position in the other direction or set a price alert and then close it manually when hit.

Might need to transfer this to Suggestions and Ideas thread as it really shouldn’t prevent users from doing that, we need freedom to be able to manage the trade however we wish

@Rocky I think your original suggestion may be correct. I tried it in an open position and I was allowed to place a negative position better than the current.
I think we need clarification from the team.

Yes you can enter the figure but did you click on confirm? I know maybe you didn’t want to confirm it in an open trade, when I went to the demo it let me put a negative figure in (that’s not a problem) but it’s when I hit confirm the message appears telling me no I can’t do that

I did confirm and it was accepted, and it remains the same when I re-checked.
May be you can’t enter a value which is negative to the current value.

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Oh dear I think I need some sleep, yes that would be the problem, the test I tried to run would have set my TP at a position that was worse than just using a market sale. So in fact I would be glad that didn’t work on a real trade haha.

You’ve sussed it, at least we know anyway for future :+1: