What are the benefits of a TradePlan?
A TradePlan can help control the risk of investing and make the most of the rise and fall of the stock market, without having to keep a constant eye on share prices.
- Limit Order - sets a price above which you will not buy, or below which you will not sell a stock.
- Stop Loss* - sets a price to sell shares which is lower than the current price. Stop Losses are usually used to protect you from sharp falls in a share price.
- Target Setting - 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 lower price than the current price. Target Setting can help you maximise profits when share prices rise and protect against losses when they fall.
- Range Trading - specify the prices which you wish to buy and sell a particular stock. It's 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.
- Price Locking* - an in-built Stop Loss which automatically adjusts your stop price to lock in rises when shares climb to protect you from a sharp fall.
*Our Stop Loss and Price Locking facilities do not use a guaranteed stop loss. When the share price reaches your target price, your order will go into a queue to be actioned. This means that the price dealt may, on occasion, be either higher or lower than the trigger price.
Please note, if the price changes outside of your set criteria it either won’t stop selling (e.g. stop loss) or we won’t continue to buy if the price doesn't stay below your set buy price.
Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.