Scaling Out

[keeno1]

H everyone, i was just wondering if anyone knows a decent spreadbetting company who allows you to scale out of trades. eg if im £3/pip can i sell £1/pip at 3 different target levels, all as part of the same trade...
im with IG and they do not have that feature, with them you would have to open 3 separate trades which is a bit of a pain, also price could be moving away from you...
i know loads of Forex brokers allow it, some of the SB brokers got to have this feature:?:

 

[gle101]

H everyone, i was just wondering if anyone knows a decent spreadbetting company who allows you to scale out of trades. eg if im £3/pip can i sell £1/pip at 3 different target levels, all as part of the same trade...
im with IG and they do not have that feature, with them you would have to open 3 separate trades which is a bit of a pain, also price could be moving away from you...
i know loads of Forex brokers allow it, some of the SB brokers got to have this feature:?:

You might have a look at Smart Live Markets with their MT4 SB platform. Tons of EA's ans script around in which to customize your trade in any way you want.

 

[lancenicolase]

I use capital spreads and I do use scaling down sometimes and it works fine with them.
I guess with IG you can set up 3 seperate orders to exit you at different levels.

 

[shadowninja]

When you say IG doesn't allow you to do it, do you mean something automated or manual? You can have a minimum size with IG and still scale out of that by just typing the value per pip you want to close. For instance, on EURUSD with the minimum of 50p/pip, you can scale out 40p/pip then 5p/pip then 5p/pip if you want. There are no restrictions as such. You just can't place an order that includes scaling out at the various sizes at various levels... well maybe you could if you're doing more than 50p but I've never tried scaling out via orders as I like to watch the movement when it approaches given levels...

 

[bigup]

You can do it with IG, you just adust the amount on the ticket.

 

[tomorton]

Surely all SB firms allow scaling out?
e.g. if you have a £3 per pt position long you can execute a trade to go short at £1 per pt at the current price. Or you could enter order to go short at £1 per pt at whatever price you set.
I don't use IG but Caps and Fins allow this - surely IG don't insist you keep a full £3 position or close it all?

 

[Mata Nui]

MT4 with SLM takes some getting used to as entering a sell for a lower value to scale out of a long wont work. All it will do is enter you into a sell also (it allows you to hedge). I think the 'Close' trade will only close out the full value so for SLM i think you also cannot scale out of a trade.

 

[Pi3141]

You can scale out a trade with SLM, all you need is an EA script that allows scaling.