How do you close half a trade in MT4? It only seems to allow closing the entire trade.
Also, it restricts me from modifying a stop/limit order to within 70 pisp of the current market price. This doesn’t seem right, anyway round it?
You have to manually close 1/2 the trade. In the volume box, change the size to 1/2 what ever your original order was, then close trade.
What broker are you using? with ODL its 10pips, so I can only presume its different with each broker and 70 really doesnt seem right.
cheers
First question: not possible to close part of a position as far as I know with MT4. You need to plan that from the start and open multiple positions so that you later can close for partial profit (or loss).
Second: maybe your broker uses fractional pips (an extra decimal). In that case 70 pips correspond to 7 “normal” pips, which might be inside or too close to the spread according to broker rules.
Ah your probably right about the 5 decimal places with the fractional pips some brokers are offering.
But you can definitely close off any size of your trade at any time in MT4 as mentioned below.
Cheers
Is it also possible to do this with a pending order?
Eg, buy 0.06 SL 50 pips TS 50pips, close 0.03 at 50pips profit. Perhaps with a sell limit?
Will that sell limit pending order cancel any of the trailing stops in MT4 when it hits?
will the sell limit be linked to any open trades?
your sell limit would be a new order, and not affect any curent or existing trades.
sell limit is when you expect the price to go up, then when it reaches that price the new sell order is triggered.
Closing 1/2 the trade is a manual function.
no it will not be linked, it is a new order…
Ok.
SO,
1/ Know of any EAs out there that will close half or a specified amount of an open trade on reaching a TP?
2/ Know any programming basics for EA, ie guideline website and I can design my own.
I have never used nor will i ever use an EA. sorry i can’t help you there
Just want an EA to close half a trade at a specified level and
an EA to send me an alarm when the CCI level gets to a certain point.
ALl other trades would be done manually.