In this lesson of the CFD online tutorial we will explain how to automatically buy or sell when a price reaches a certain predetermined value. This is an advanced function, usually only available on the best online trading platforms. As in the previous lessons, for our practical example we will use the Plus500 platform. In fact, on this platform, applying this function is decidedly easy and is immediately clear even to those who have never used it before.

The “Only buy when rate is” function

In those instances when we want to open a purchase position only when the rate reaches a certain value, we can use the “Only buy when rate is” function.

To proceed, you must first click on “Buy” in relation to the financial instrument you wish to trade on. A window will open in which you can specify the order details. The “Only buy when rate is” function can be seen in the image below. To select it, check the appropriate box after clicking on “Advanced”.

buy only when rate is

In doing so, the purchase position will only be opened when the rate of said CFD reaches that value.

This option is optimal for example to “capture” the upward trend you are awaiting, or to open a closed market position, as detailed in the lesson dedicated to purchase and sale orders on the closed market.

The “Only sell when rate is” function

On the other hand, if you wish to open a sales position only when the rate reaches a certain value, you can use the “Only sell when rate is” function.

To proceed, you must first click on “Sell” in relation to the financial instrument on which you wish to trade. A window will open in which you can specify the order details. To select the “Only sell when rate is” function, check the appropriate box after clicking on “Advanced”.

only sell when rate is

In doing so, the sales position will be opened only when the price of the CFD gets to that value.

This option is optimal for example to “capture” the downward trends you anticipate, or to open a closed market position, as detailed in the lesson dedicated to purchase and sale orders on the closed market.

Same procedure for other platforms

Although we used the Plus500 platform as an example, the same function is also found on other platforms with slightly different wording for it. You may not find that it says “Only buy/sell when the rate is,” but the concept, however, will be the same. For this reason, we are sure you will have no problem finding and using this option on your favourite trading platform.

Go to Lesson 5 – How CFD Forex Brokers earn

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