Exiting trades on Probo is your choice
How to exit your trades before the settlement time?
Have you been in a situation when you place a trade and now wish to get out of it? Probo allows you to change your opinion, using the exit feature, whenever you need to get out of the market. This sets it apart from the other apps. Read on to find how to exit your trades on Probo.
What is Exit feature on Probo?
The ‘Exit’ feature gives the user an opportunity to exit from the current trade. You may want to exit due to a number of reasons like:
- Changes in the market conditions,
- Controlling your losses or
- Booking an early profit, or,
- Simply when you don’t want to stay invested in an event any longer
How to use the ‘Exit’ feature?
Step 1 — Choose the event you want to exit
The event card will show an Exit button. Tap on it.
Step 2— Select all the positions you want to exit
The next screen shows you quantities matched at Yes & No positions which are available to exit. You can choose one or as many as you’d like to exit.
You will be shown the exit price and the potential profit or the loss that you’d be making after exiting.
Step 3— Set your exit price
The next step is about setting an exit price that you want. This will place your quantities in order book and execute them once the system finds a match.
You can also use instant exit in case you do not want to wait & need immediate exit. It sells your order at market price.
Tips on using Exit feature
- Make sure to do your research on the event trends before you choose to exit.
- If you are risk-averse, use exit feature when your trade shows positive gains.
- Remember to set the exit price beforehand. Whenever the market fluctuates to that price, your exit trades will automatically be exited at your chosen price only.
- You can also use instant exit in case you do not want to wait & need immediate exit. It sells your order at market price.
Have more questions? Watch this short introduction to creator tools.
How does Exit work?
When a user chooses to exit their trade for any reason, the system places a sell order in the Probo market, searching for a buyer that will agree to buy at the price quoted by the seller. Once the system finds a buyer that is willing to buy that at exit-price, the first user or the seller gets an exit.