Hi all, I’m still currently using a demo account at the moment on the CMC Markets platform and wondered if anyone knew if it was possible to part sell a profitable position on this platform to lock in profits aswell as keep the trade open and growing. The other way I know is a trading stop loss or manually moving your S/L as the trade goes in your favour but I’ve read that on some platforms you can part sell an open position, taking part of the profit made but keeping your trade order still open. Does anyone know if you can do this on CMC?
[QUOTE=“adamadnan;767530”]Hi all, I’m still currently using a demo account at the moment on the CMC Markets platform and wondered if anyone knew if it was possible to part sell a profitable position on this platform to lock in profits aswell as keep the trade open and growing. The other way I know is a trading stop loss or manually moving your S/L as the trade goes in your favour but I’ve read that on some platforms you can part sell an open position, taking part of the profit made but keeping your trade order still open. Does anyone know if you can do this on CMC?[/QUOTE]
Hey i Guess If you buying a share ,meanwhile you can easily sell the part of position
And you get difference sum of merge in position
Have you tried talking with CMC’s trading support? They’re probably the best resource to answer your questions on their platform’s trade management capabilities.
I will contact them at some point 
thanks
I don’t use CMC, but you [I][U]have[/U][/I] to be able partially to close a position, otherwise you’d have to close all of it and re-open part, paying double dealing-costs. That would be crazy.
(I seriously doubt whether they’d be able to keep their customers [I]without[/I] that facility, but if you really can’t do that on CMC’s platform, whatever it is, then don’t use it!).
Yeah, I’ve been wondering as well. I use Forex.com as my broker currently. Their stop loss and limit orders are only able to close the whole position. But, what I want to do (usually what I do for stocks) is I sell my position in two or three phases. First, sell 1/2 to 1/3 of my position at the point I’m nearly 100% it will probably hit, then let the rest of the profit ride. then sell another 1/3 or the last 1/2 at my better profiting price.
This method allows me then to adjust my stop loss at a better position so at the very worst I only break even on the trade, but with the potential of possible much larger profit.
Sorry, I went way off topic. 
I’m surprised. How do these “brokers” who don’t facilitate traders scaling out of positions keep their customers? :rolleyes:
I’ve worked out how to do it on CMC if anyone uses it and doesn’t know. Basically CMC won’t allow you to change the volume but when you go to close a sell/buy position you can change the amount per point to lock in profits strait away and keep the trade still open. For instance, If i am trading £2 per point and in profit by £300 for example, you can reduce the close bet by changing the £2pp to £1pp which will automatically lock in profit to your account of £150 but your position will still be open but only at £1 per point.
That makes [I]much[/I] more sense. Well discovered: there [I][U]had[/U][/I] to be a way to do it, otherwise their service wouldn’t be usable by anyone who scales out of positions!
It is always possible to open more smaller positions. Open 4 times 1 lot instead of 1 time 4 lots Or?
This depends on the platform you’re using. Some “merge” them and show your average entry-price, rather than keeping them separate. And to do it manually wouldn’t help much, if the price moves a pip or two while you’re doing so?
NinjaTrader’s ATM (“Advanced Trade Management”) is one answer: whatever you want to do, and were set up for, can be done in a single click.)
Oh yeah, I’m about to find a different broker. I just started trading Forex about one month ago. Would only trade the stock market before that and some Futures. Just got more into Forex the last couple of weeks now and am definitely getting a different broker now. I was stupid and did very little research before finding a Forex broker. Then when I joined them, it seemed adequate because I was only trading with small position sizes, so I decided to do the lazy/dumb thing and stay with them for a month hah…
Any good brokers you suggest? I’m looking for one with tight spreads preferably because I mostly scalp and hold a position for no more than 15 minutes to an hour.
Me also … quite rare for me to keep a position open for an hour.
You need to start by deciding whether you want a genuine broker (who acts on your behalf in the interbank market, to which you don’t have access yourself, without themselves being involved in the outcome of your trades, and prefers you to win), or a counterparty market-maker (who trades against you, holding the other side of your positions, as well as your deposited funds, while having a potential incentive for you to lose).
The catch is that you need a significant deposit, to use a genuine broker.
If you can afford a real one, Interactive Brokers is excellent but perhaps not for the totally inexperienced - their customer service doesn’t do a lot of hand-holding. AMP is also good.
If you need a counterparty one (smaller deposits), in my opinion it’s hard to do much better than Oanda (I traded there for a long time with no problems, and I did a [U]lot[/U] of research first. They’re honest.)
Depending on where you live, go for one that’s well-regulated (FCA-regulated is good. Cyprus is bad, [I]very[/I] bad - “offshore” is generally bad: it means they wanted minimal regulation and that’s a really bad sign), and one that has enforced segregation of customer deposits and their own management/operational funds. Check their [I][U]regulatory record[/U][/I] (i.e. stay away from FXCM, who promote themselves relentlessly to newbies in forums but whose regulatory record is about the worst in the world, with multiple, repeated fines of many millions of dollars [I]all for matters arising directly over how they’ve treated their customers[/I]).
It’s not an easy business at all, choosing a broker. But it’s quite important.
[B][U]Avoid[/U][/B] brokers with gimmicks like “no-deposit bonuses”: that’s a [B][U]big[/U][/B] red flag. Customers are paying for those, indirectly.
If you’re in the UK or Ireland, think seriously about whether a spread-betting broker might actually be better … and don’t listen to the people who will tell you that their spreads are wide, that they’re badly regulated or that they all “trade against you”: all this information is horribly out of date and inaccurate, but unfortunately it’s still rather widely believed in trading forums. Spread-betting has a lot of advantages (especially the fact that all profits are tax-free), if it’s available to you. But if not, and if you’re talking about a smallish deposit, I would just try Oanda, myself. Their spreads are no worse than anyone else’s, and they suited me.