Can anyone tell me how to have multiple take profit levels using MT4? I don’t see an option to buy 2 units and to set up 1 to take profit at one level, and 1 to take profit at another level.
Thanks alot!
You can either hedge your position for an additional spred cost. Or you can make two orders at half size each.
What do you mean “hedge your position?”
Thanks!
It is taking the opposite but equal position
Provided your broker [B]allows hedging![/B] My broker is IBFX and I tried to do this, and found out the hard way that hedging is not permitted. This is I believe due to some regulations by the NFA of the United States. If your broker does permit hedging then more power to you, but if you are in a situation similar to mine, you will have to [B]divide your initial trade in half[/B], and open each half as a [U]separate trade[/U], with the differing Take Profit values.
Hope this helps.
Happy pipping!
There is no option built into MT4 to do this, but you can get an EA that will do it. Just Google “multiple TP MT4” and you’ll see a couple of them.
Or you can go the separate trade route, but that’s just annoying…