I’m just curious if there’s any way to close half a position automatically as a take-profit line in metatrader?
ie, allowing me to be away from my computer to auto close just half the position and automatically let the other half run (with a trailing stop).
thanks in advance…
Open separate orders each with 1/2 the volume you trade.
You’d need to find/write an EA to do that. MT4 does not have that function built-in.
omg I didn’t even think of that! lol thanks brah!
Theres an ea out there called chin visual trader that does that allows you for example to buy 1 full lot but breaks it down to 10 .1 lots when you purchase the order you will buy 10 .1 lots all at the same tme then you can close positions individually as profit is met.
I’ve begun using alerts that either play sounds or email me when a level is hit. If I know it’s a S/L or T/P I leave it but if I’m closing only part of an order it allows me a chance to see it in motion and accordingly close part of my position.
Example opened 1 lot, alert is set at TP1, close 0.5 lot, let the remaining 0.5 lot position run till TP2. I may or may not move my S/L to the breakeven depending on market conditions.
MT4 actually does do this. Go to “Modify Order” and replace the initial volume of lots you entered with the amount you want to take off then click close.
For example: You opened up an order with 0.80 lots. If you want to take 0.20 off, just replace the .80 with .20 and then click close. You should have 0.60 remaining on the position.
edit: Sorry, this has to be done manually, not automatically. The [B]Partial Close EA[/B] from IBFX is great for this.
The Partial Close EA from IBFX is great for this.
… looks useful, thanks for the heads up on that Enpoint.