Sell Limits are used to automatically close positions once they reach a desired Price*.
As soon as the Market reaches the set Price, an open trade will automatically liquidate with a Close Order.
Setting the Sell Limit Price:
- tick the Enable box
- enter the value you wish the market to move before you intend the trade to close. IMPORTANT - this is not be confused with entering the actual market price.
The Sell Limit Price is automatically calculated and simultaneously displayed for the SELL and BUY Buttons accordingly. See images below -
The Sell Limit auto-liquidates an Open Order in the following scenarios:
Buy Trade hits the Sell Limit in a rising Market
Sell Trade hits the Sell Limit in a falling Market
Note: Limit Triggers do no guarantee the close execution price. Click here to read more about this.
* Exchange price needs to be held for a minimum of 2 seconds in order to trigger auto-liquidate.