Closing a losing position at less loss

šŸ¤ Help
1

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

2

Youā€™d modify the position by adding a TP with an amount Ā£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 ā€˜dollarā€™ amount.

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3

Thank you.
Didnā€™t know I can place a ā€œnegativeā€ TP order.

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4

Ah an interesting question youā€™ve posed in your response there, OK one moment pleaseā€¦

5

@Alien Iā€™m sorry, I was wrong, I checked now in my demo account and it wonā€™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 shouldnā€™t prevent users from doing that, we need freedom to be able to manage the trade however we wish

6

@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.

7

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

8

I did confirm and it was accepted, and it remains the same when I re-checked.
May be you canā€™t enter a value which is negative to the current value.

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9

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 didnā€™t work on a real trade haha.

Youā€™ve sussed it, at least we know anyway for future :+1: