Selling for profit?
Hi newbie here, so I purchased a few players last week they are showing as 'profit' which is because the buy price has gone up, however for me to actually profit on this player (real cash), would I need to sell to others rather than instant sell (which is below my buy price).
Sorry if this is silly question!
Yes, you need to put them 'on the market' and wait for another trader to buy that player. BUT don't forget you'll still be charged FI 2% commission, so take the current market price and multiply by 0.98 to get the approximate amount you'll get back.
Also the sell queue can take some time on occasion so you might only sell at a price lower than when you put your shares on the market, so generally calculate at 0.95 if you want to work out your realistic "take home"
Thanks guys, makes sense!