With BUX you can set an Auto-Close order so that a position is automatically closed when it reaches a certain limit. 


However, please be aware that the limit of the Auto Close order is not always guaranteed.

 

The reason for this is due to stock prices sometimes jumping to a higher or lower price than the level on which the Auto Close is set. Especially when the market opens for a certain product, it can open at a much higher or lower price than what they closed at the day before.

 

Example: you purchase Tesco and decide to set your Auto Close at -5%. Tesco closes that day at -1% and you are holding your position overnight. The market then opens and the first price after opening for Tesco is at -8%. The position you hold will now be closed at -8% and not the -5% you had set your auto close at, simply because it never hit the exact price at -5%.  

 

Naturally, using multipliers can also have a big effect on your Auto-Close position. For example, if you are using a Multiplier of x 5 and the product opens at -2% - your result will be -10%. The higher the Multiplier, the bigger the chance your set Auto-Close (Take Profit or Stop-Loss) will be hit, resulting in your position(s) being automatically closed. 



Questions? Yell out at BUX Support!