Leaving Orders

Take Profits with Limit Orders

Once you have opened a position, you can place a 'limit to close' order to help you take profits while away from the trading screen. Of course we always recommend monitoring your account in case the market moves against you.

Suppose you want to speculate on the short-term direction of the US Light Crude Oil Future price which can have rather wide fluctuations. At 11am on the day, our quote for Dec US Light Crude Oil Futures is 6065 / 6069. You think the price will rise, and buy £2/point at 6069. You believe the price has potential to reach 6400 in the short-term, and place your 'limit to close' order at 6400. While you are out to lunch, oil price spikes to 6450 before falling back to 6200. Your limit order has been triggered and your position closed with a profit of £2 x (6400 – 6069) = £662.

Trade while on the go

It is early in the morning and our quote for GBP/USD is 1.5676 / 1.5679. You want to buy the currency pair but wish to do so at an even better price. You can leave an 'order to open' on our platform, to buy £1/point GBP/USD at 1.5600.

While you are busy at work during the day, the currency pair drops to 1.5542 before recovering to 1.5710. In the meantime, your order has been triggered and filled at 1.5600, and you are sitting on a profit of £1 x (1.5710 – 1.5600) = £110.

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