Can I Close a Commodities Position at a Price I Choose?

You can, by using a Limit or Stop order. Commodities on Pluang has Market, Limit and Stop orders, each valid for the Day or GTC (Good till cancelled). Because you hold one net position per instrument, an order in the opposite direction offsets your existing position, reducing or closing it, rather than opening a separate one. So to exit at a price you choose, place a Limit or Stop order in the opposite direction for the lots you want to close. To close straight away instead, tap "Close Position" in the "Your Position" card on the instrument's page.

• Order types: Market, Limit and Stop. A Limit order is used to trade at the price you set or better; a Stop order is triggered when the price reaches the level you set. Take Profit and Stop Loss are coming. For now, you can place a Limit or Stop order in the opposite direction to exit at a price you choose.
• Validity: Set under "More settings" → "Time in Force": Day (Good till market close) or GTC (Good till cancelled).
• Opposite direction offsets: You hold one net position per instrument. An order in the opposite direction reduces or closes your existing position rather than opening a separate one, so you can't hold a Long and a Short on the same instrument at once.
• Which side to use: If you hold a Long, your exit order is a Sell (Short) order; if you hold a Short, your exit order is a Buy (Long) order. On the order screen, you confirm the order with "Slide to place order".
• Fills: Orders fill in full or not at all; there are no partial fills. This means a Limit or Stop exit may not fill: if it can't be filled in full when its price is reached in a fast market, it shows as Failed, nothing is filled, and you can place it again. Keep watching your position until it's closed.
• Market hours: You can't place orders while the market is closed.
• Margin still matters: At an 80% margin level you get a margin call. At 70% you get a second warning, and new orders that add risk are blocked until your margin level is back above 80%. At 50%, Pluang closes your worst-performing position in full, then checks your margin level again. If it's still at 50% or below, it closes the next one.
• No expiry: Commodities positions are rolling contracts with no expiry date, so they don't close because a contract runs out.

Related questions:

Q: Does Commodities have Take Profit and Stop Loss?
Not yet. Take Profit and Stop Loss are coming. For now, you can place a Limit or Stop order in the opposite direction to exit at a price you choose. Orders fill in full or not at all, so a Limit or Stop exit may not fill in a fast market: it then shows as Failed, nothing is filled, and you can place it again. Keep watching your position until it's closed.

Q: How can I limit my losses on a Commodities position?
Place a Stop order in the opposite direction at the level you're willing to accept, or close the position yourself with "Close Position". Keeping more than the minimum margin in your USD Margin (Commodities) wallet and trading fewer lots also gives you more room before a margin call at 80% or liquidation at 50%.

Q: What happens to my position if my margin level falls too far?
At 80% you get a margin call, the first warning, so add funds or reduce or close positions. At 70% you get a second warning, and new orders that add risk are blocked until your margin level is back above 80%. At 50%, Pluang closes your worst-performing position in full, then checks your margin level again. If it's still at 50% or below, it closes the next one. Keep an eye on your margin level in the app. Pluang also sends alerts by email and push notification.

Q: How long does a Limit or Stop order stay active?
It depends on the validity you choose under "More settings" → "Time in Force". A Day (Good till market close) order is valid only until the market closes, while a GTC (Good till cancelled) order stays active after the market closes. The order confirmation shows when a Limit order expires. Orders can't be placed while the market is closed, so check the trading hours before you place one.

Q: Can I close only part of a Commodities position?
You can reduce a position by placing an order in the opposite direction for fewer lots than you hold. For example, if you hold a 3-lot Long on XAUUSD, a 1-lot Short order leaves you with a 2-lot Long. An opposite order for the full size closes the position.