How do I close an open position and sl/tp function?



  • I can't see where to close an open position in my portfolio. Is it a case of pressing the sell button and selling back the amount of shares I have previously bought/want to sell? That would seem strange because that suggests I am opening another position with a sell future?

    Also, if I have opened positions on a player at different prices, how can I make sure I am closing a trade at the price I want closed. E.g. If I have a share bought in Salah at 7.50, and another at 7.70, where could I go to firstly see this, and secondly make sure I am closing the specific trade that I want to close.

    Finally, is there a mechanism on the site to set stop loss and take profit?



  • @NewUser133015

    1. Strictly speaking there is no "close position" option. You simply sell back the amount of shares you wish to sell.

    2. At the moment, the only way to make sure you close a trade at a profit is track how much the player was bought for. A history of all transactions is available in the "transaction history" tab.
      FI still has a long way to go in providing investors with clearer information about a whole range of issues and this is one of them. The CEO has previously discussed that they are currently creating new methods to help customers.

    3. There is no mechanism to stop loss or take profit like other investment platforms.
      Edit - Apprently setting a reserve price can help here



  • @James Okay I appreciate the response. Such a fun concept, I can understand that they want to keep it fairly casual, but they will need to give more options in the future! Hopefully they can put these functions in to make us feel more at ease.

    Thanks again!

    Chris



  • @cjw95 If you bought 2 lots of shares for ease of example at the 2 prices stated it simply shows you the average so it would show your average buy price at 7.60, so no real need to look back at transaction history and work out what you paid.



  • Okay so after working my way through the support page, it looks like you can effectively secure your profits on a trade by setting a reserve sale price, which makes sense. Happy haha.

    Cheers guys



  • That's true but at the same time you're relying on someone buying at that price. If No1 does and the price drops below your reserve you set then the sell instruction is cancelled and you keep those futures in your portfolio



  • @John-Renwick So it doesn't automatically trigger the sale at the price you've set/reserved then?



  • @cjw95 no. You need someone to want to buy at that price. Unless u use the instant sell function. Which gets u less money but foes get u it instantly.



  • i believe the earliest share bought is sold first and so on

    i sold a few players recently using reserve prices - most sold quickly, some took a few days, a few were left after a week, the ones left i cancelled and tried to re-sell at the new price. selling using reserves also gives you an idea of how "in demand" a player is, which is quite useful



  • @pwp24 which player was it if you don't mind me asking as I haven't waited more than 2 days to sell a player to market ever.



  • @John-Renwick it would have been obscure squad players or players that dropped in price over the course of the week - I can't remember any names off the top of my head.



  • Does anyone know if the site is planning on creating an option to short player prices as well? Or are they intending on keeping it as is?


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