Hello.
Just to clarify for someone who tries this:
It depends on your broker. At one of these brokers I can place an order for - like you say - double my current amount of lots and that will effectively close out the first position and open another one in the opposite direction i.e. stop and reverse. At the other broker - if I did this - I would have to place a stop loss AND a stop order at the same price to accomplish the same thing. Be careful though - I have seen it happen (you're not going to believe me I know) on more than one occasion - where the one order has been executed and the other has not been executed or the price has been slipped on either or both orders. This results in a 'hedged' position which, like I said before, always turns to 'sh1t'.
Regards,
Dale.
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