Confused about Sell button

Hi,

I’ve looked at the FAQ but can’t see an answer.

Sorry for the newbie post. I’ve been using the app for a couple of months and just playing around with a small amount right now.

Now I understand that closing the position will give me any profit (or loss) I have made as this is what I’ve been doing.

I have also been buying Limit/Stop where it’ll automatically buy at a certain price and this seemed to work.

However I tried the same with Sell Limit/Stop and it said it executed when the price rose but my positions now says:

Sell 26@ £2.4438
Buy 26@ £2.4526

Why did the position not close as I “sold” all 26? Was I in fact short selling here not not selling my original 26?

Basically I just want a way to sell when it gets to a certain price without me having to be watching it every minute of the day.

Thanks,

Craig

I assume you are using CFD which is in hedging mode (ie each position is completely separate)

So you have a long position and a short position.

You need to use the TP (profit) and SL (loss) toggles in CFD where you set the distance or money where it will exit.

On the desktop version you can drag and drop to move them and switch the chart from BID to ASK if going short.

You can always switch to an aggregated mode instead too.

If you are new to trading I wouldn’t advise CFD with real cash immediately.

I would use ISA and go long to start with real money. And use the CFD practice account only playing with the same funds you have in real life. Once you’ve nuked the funds a few times and starting to get to grips then swap CFD to live.

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Hi,

Thanks for your reply. That makes sense. I thought I had started a short position. I’ll see what I can do with the TP and SL in the future.

I understand the warning about CFD but I’m not about to chuck loads of money at it any time soon (I’ve put in £60 and that will be it for now). I just wanted to practice with a few real £s rather than on practice mode. I have actually read up quite a lot on Margin trading so I am aware of the risks compared to using Invest. I have also had a couple or margin calls so I know how much I could have lost, but luckily it all went back in my favour. It’s been quite a lot of fun the past couple of months with the volatility of the markets due to Covid and govt announcements etc.

Thanks for you help and I appreciate the the non-patronising reply I half expected.

Craig

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