DEFINITION of Force open
Force open is a function on the trading platform that allows you to enter a new bet in the opposite direction to an existing bet on the same market.
WHAT IT IS IN ESSENCE
When placing your second trade on the same market, it appears when you open the trade ticket. Mark this box for this new position. It is the possibility to open positions in the same market without closing the other one out.
This feature allows you to go long and short on the same market and better manage your trading. This will ensure you have two distinct positions open. Except in the case where you have a short position on an unborrowable share.
This will ensure that you have two distinct positions open. If you do not check ‘force open’ in this situation and instead have ‘net off’ selected, all or some of your existing position may be closed.
A force open should not be confused to a force close. It occurs when a position is closed automatically without any action by you.
HOW TO USE
The trader can Force Open positions in the same market without closing the other one out. This feature allows to go long and short on the same market and better manage your trading.
The advantages of this are:
- Go Long and Short on the same market.
- Better manage your positions.
For example, if you hold a long-term position you are able to short-term trade in the same market. Without having to close your first position.
The disadvantages of this are:
- Costs are increased as you pay the spread and funding charges for each trade.
How to know that you can have new positions?
When placing your second trade on the same market, a checkbox titled “Force Open” appears when you open the trade ticket.
Simply tick this box to force open the position.