Close a specific position with alerts when multiple positions in same stock

therookie · Wed, 13 Jan 2021 09:52:36 +0000

Hi, I use PRT together with IG as a broker and will be buying and closing positions using alerts with an associated trigger. Now sometimes I will buy multiple positions for different purposes (e.g one positions for long term investments and one for swingtrading) and I was wondering how to make sure that the “right” position closes when I associate a sell order with the alert? Lets say I already have 1000 shares of stock XX that I intend to keep for another few months. I now open another position with 500 shares of the same stock that I intend to keep for only a few days. I can see in my portfolio that both the positions are seperated from eachother so so far so good. Now how can I make sure that when I after a few days put an alert with an associated sell order of 500 shares that it sells only the position that I bought recently? Would it know what position to sell because the number of shares that I specified are the same? Would it for example sell my longer term investment of 1000 shares if I would have associated an trigger to the alert to sell 1000 shares? Regards

This topic has 2 replies, 2 voices, and was last updated 3 years ago by therookie.

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01/13/2021 at 10:52 AM #157622

therookie

Hi,

I use PRT together with IG as a broker and will be buying and closing positions using alerts with an associated trigger. Now sometimes I will buy multiple positions for different purposes (e.g one positions for long term investments and one for swingtrading) and I was wondering how to make sure that the “right” position closes when I associate a sell order with the alert?

Lets say I already have 1000 shares of stock XX that I intend to keep for another few months. I now open another position with 500 shares of the same stock that I intend to keep for only a few days. I can see in my portfolio that both the positions are seperated from eachother so so far so good. Now how can I make sure that when I after a few days put an alert with an associated sell order of 500 shares that it sells only the position that I bought recently? Would it know what position to sell because the number of shares that I specified are the same? Would it for example sell my longer term investment of 1000 shares if I would have associated an trigger to the alert to sell 1000 shares?

Regards

therookie
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01/13/2021 at 10:56 AM #157623

GraHal

Best to try out various scenarios on Demo, then you will know for sure.

You can above easily and quickly with manual trades on Demo account.

In my experieince the position that will get sold will be the oldest.

GraHal
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01/13/2021 at 5:36 PM #157680

therookie

Thank you! I have tested around on my demo account and you are right. Annoyingly it wants to sell the oldest position first. My workaround was simply to open a second account for my short term trading!

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GraHal

therookie
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Close a specific position with alerts when multiple positions in same stock

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