My daughter, who is a budding trader but who is still practising in a demo account, asked me a question the other day: “Dad, how do I adjust my stop orders on Capital Spreads?”
It seems so obvious to me now, after years of spread betting, and I never really give it a second thought; but maybe it’s not so obvious to new spread bettors. You see, each of your open positions listed in the Open Positions list (see below) has an ORDER button that is greyed-out, and which becomes active — i.e. you can click it — only when you expand the particular row by clicking the “+” sign to the left of the position. It is by clicking this now-enabled ORDER button that you gain access to your attached stop order so that you can adjust it; for example on my Pendragon position shown below.
What I just said is true of Capital Spreads and other spread betting companies that run atop the London Capital Group trading platform including InterTrader plus ETX Capital. On all of those spread betting platforms, you have to click the “+” sign to the left of your position so as to expand the row and enable the ORDER button.
Help is at hand in the form of the Order Book tab as shown below. Here you can see the stop orders for my Pv Crystalox positions, complete with AMEND buttons that are clickable. Via this route, you can adjust the stop orders on your phone-only positions… without phoning.
As far as I know, there is no way to close a phone-only stock position via the web platform, because the CLOSE button is always greyed out (in my first picture) for any position labelled “Call”. The best thing you can do – without actually phoning the trading desk – is to use the Order Book tab (second picture) to AMEND your stop order and move it so close as to virtually assure a stop-out in the very near future.
Disclaimer: this posting is for general education only; it is not trading advice.