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TradePlan

How does TradePlan benefit you?

  • Allows you to take control without having to monitor the markets night and day
  • Gives you five automated trading strategies
  • Easy to set up

What are the TradePlan options?

There are five different TradePlans:

  1. Limit Order

    A limit order lets you set a price above which you will not buy and below which you will not sell investments.

    Show example Hide example So if XYZ plc's shares are currently trading at 752p to buy, but you are only prepared to pay a maximum of 745p, you could set a limit order to buy at a maximum of 745p and the order would be dealt if the buy price of XYZ plc's shares moved down to 745p or lower. Your order can be for a specific number of shares or an amount of money. We will work out how many shares depending on the limit price you set and take into account the charges and stamp duty (where applicable). You can also set an expiry date for any working day in the future.

  2. Stop Loss Order

    A stop loss order lets you set a price to sell shares which is lower than the current price to protect you from sharp falls in a share price.

    Show exampleHide example Experienced investors would usually set a target for the profit they want to achieve and also for the loss that they are prepared to make - a stop loss lets you control the latter. A stop loss order is used in Target Setting (see below). Please note, in some circumstances a share price may fall suddenly, for example when a share goes ex-dividend. This could mean that we execute a stop loss order for you that would not otherwise have been dealt. We will execute the deal in line with your original instruction, which may be at a lower price than specified by your stop loss.

    For example, XYZ plc shares close at 700p on Monday night. On Tuesday, the ex-dividend date, the price opens at 670p. You have set a stop loss at 690p so we would execute your order at 670p. You should monitor your active TradePlans carefully.

  3. Target Setting

    Use Target Setting to maximise profit when share prices rise and protect against losses when they fall. This TradePlan is a combination of a limit order to sell at a higher price than the current price and a stop loss order to sell at a price lower than the current price.

    Show exampleHide example For example, if the current sell price for your shares was 450p you could set a TradePlan to sell your shares at a limit price of 455p and a stop loss order at 447p. If the price began to rise, your TradePlan would execute at 455p, but if it began to fall your stop loss would protect you by selling your shares at 447p.

  4. Range Trading

    Use Range Trading to specify the prices at which you wish to buy and sell a particular stock without the need to constantly watch share prices. It is a combination of two limit orders, one to buy shares at a lower price than the current price and one to sell them at a higher price.

    Show exampleHide example For example you could set up a TradePlan to run for the next six months so that every time XZY plc's shares hit 800p you purchase a specific number of them, and then every time they reach 900p you sell them.

  5. Price Locking

    Use Price Locking to track a rising share price and protect you if the price begins to fall.

    Show exampleHide example For example, if the current price for XYZ plc is 650p to sell you could set a 20p stop loss to sell at 630p. If the share price falls to 630p during the trading day, then your shares would be sold. If the shares rise and close at 660p, your stop loss order would be increased from 630p to 640p maintaining your 20p tolerance.

How do I place a TradePlan order?

Access TradePlan and select Create New TradePlan.

How do I amend or cancel a TradePlan order?

Select TradePlan Management - found within the TradePlan section of your trading account. Select the amend or cancel button found next to the relevant TradePlan order.

How much does it cost?

There is a £2 charge to set up a TradePlan. But if a trade is executed as a result of a TradePlan, we will reduce the commission on that trade by the amount of the charge.

When will the TradePlan order be executed?

If you have set a TradePlan order, we will execute this as soon as is practical if the price has been achieved. You can set a time limit of 30, 60 or 90 days or choose a specific date for your TradePlan to stop.

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