Hi, could you add a feature to freeze an account by the user, temporarily?
For example, I have a few limit buys in case a stock was to trigger them I would then get a notification and set up an exit strategy
But if I wanted to take an evening with my friends and turn off my phone, I’d like to keep my limit buys set up in the app. But freeze the account because I know I won’t want notifications/purchase for say that 2-3hrs
Obviously if the limit was triggered my account would be frozen and would miss out on that buy opportunity. But that’s the trade off for peace of mind/phone being off
I imagine just like a button on the homescreen that says, freeze/unfreeze transactions
What do you guys think?
Such a feature will be very complicated to implement. In order to prevent the exchanges to execute your orders, we would have to cancel them when you freeze your account and place them again when you unfreeze.
Would there be a way to set a “take profit” on Invest account when opening a position?
I think this would solve this. That way he could set a stop loss and a take profit level ahead of time and then go chill knowing whatever the outcome, he will be within those ranges. (For Invest and ISA). Just like the CFD has.
Yeah that’s a shame, what I’ll do is set them up and cancel when I need to
Yeah a bit of friction in that case makes sense, I hadn’t thought if someone were to hit and unhit the button repeatedly… That would be a nightmare
Yeah, setting up an exit strategy ahead of time is a great idea, at least protect below the purchase price
Unfortunately, again it is a very complicated task due to similar reasons. If you send two orders to the exchange in volatile conditions they both might execute practically simultaneously. (in some cases we wouldn’t be able to cancel the limit in time after the stop have executed).
The more practical solution is implementing an OCO (One Cancels Other) which allows you to place two connected orders. That way the exchange will handle the cancellation of the corresponding order.
We know many people have requested such feature so we’ll evaluate it and post updates if and when it’ll come.