Help with MT4 Diskuse

Dr_BigC

Členem od Sep 05, 2020 2 příspěvků

Sep 16, 2020 at 08:34

Členem od Sep 05, 2020 2 příspěvků

New to MT4. Does anyone know if or how to partially close a position using a pending order. For Ex. say I open a 2 lot BUY position on EUR/USD at 1.18500 with SL 1.18350 and TP 1.18850. Then when price gets to 1.18650 and I want to scale out my position and maybe move SL to break even, can this be done using a pending order, essentially automating the process as I might not be there to watch the price do its thing or can it only be done manually?

Thanks

AspiringTraders

Členem od Sep 08, 2020 24 příspěvků

Sep 16, 2020 at 15:49

Členem od Sep 08, 2020 24 příspěvků

it can be done manually by going to the close action on your open trade, click on your contract size(lot size) and edit the lot you want closed and click the close button. I am not sure if their is a way automatically but it could be possible. Hope this helps

you only produce results

Gracewilson1995

Členem od Jan 11, 2019 140 příspěvků

Sep 17, 2020 at 07:13

Členem od Jan 11, 2019 140 příspěvků

To partially close the order on MT4, please follow the steps:
1)Double click on the order (or Right click > “Close”)
For example, You have a 0.1 lot trade, and want to close half position (0.5 of the 0.1 lots for profit) and let the other 0.5 lot remain.
2)Change the amount of your position in volume section.
3)Click Close

F_rex

Členem od May 05, 2010 3 příspěvků

Sep 17, 2020 at 07:17

Členem od May 05, 2010 3 příspěvků

Gracewilson1995 posted:
To partially close the order on MT4, please follow the steps:
1)Double click on the order (or Right click > “Close”)
For example, You have a 0.1 lot trade, and want to close half position (0.5 of the 0.1 lots for profit) and let the other 0.5 lot remain.
2)Change the amount of your position in volume section.
3)Click Close

0.5 is 5 times bigger than 0.1 :)

The way is to avoid what is strong and to strike at what is weak.

F_rex

Členem od May 05, 2010 3 příspěvků

Sep 17, 2020 at 07:21

Členem od May 05, 2010 3 příspěvků

Dr_BigC posted:
New to MT4. Does anyone know if or how to partially close a position using a pending order. For Ex. say I open a 2 lot BUY position on EUR/USD at 1.18500 with SL 1.18350 and TP 1.18850. Then when price gets to 1.18650 and I want to scale out my position and maybe move SL to break even, can this be done using a pending order, essentially automating the process as I might not be there to watch the price do its thing or can it only be done manually?

Thanks

What you want to do sounds reasonable, but I can't confirm it becaause I don't partially close my orders.
Anyways, there is an easy way to check (with no risk) if your idea is sound or not. Just open a demo account and try it there.
Good luck.

The way is to avoid what is strong and to strike at what is weak.

compuforexpamm

Členem od Aug 20, 2009 256 příspěvků

Sep 17, 2020 at 09:11

Členem od Aug 20, 2009 256 příspěvků

There is a way where you can partially achieve this.

If you have a buy that you want to scale out of, you can set a pending order for a sell ie a sell limit order at your TP.

Then you can close both the buy and the sell at your leisure when you return to your computer. I would suggest you find a broker that supports "Order Close By" which will allow you to close the hedge with no commission or spread costs which is the same as having closed the order in the first place.

In terms of the move to break even, look for a good trade manager EA that can achieve the functions you seek. Forex Factory will probably have something like that.

Wealth Creation Through Technology

Ishndwyn

Členem od Dec 23, 2019 20 příspěvků

Sep 17, 2020 at 17:33

Členem od Dec 23, 2019 20 příspěvků

You have made a good choice, give yourself a little time and you will understand all the functions of this terminal, which means that you will have many new opportunities!

Dr_BigC

Členem od Sep 05, 2020 2 příspěvků

Sep 18, 2020 at 09:09

Členem od Sep 05, 2020 2 příspěvků

Thanks everyone for your advice.

Thank you @compuforexpamm for the only one to read and understand my post. I'll give that a try. Thanks again.

togr

Členem od Feb 22, 2011 4573 příspěvků

Sep 18, 2020 at 11:14

Členem od Feb 22, 2011 4573 příspěvků

Dr_BigC posted:
New to MT4. Does anyone know if or how to partially close a position using a pending order. For Ex. say I open a 2 lot BUY position on EUR/USD at 1.18500 with SL 1.18350 and TP 1.18850. Then when price gets to 1.18650 and I want to scale out my position and maybe move SL to break even, can this be done using a pending order, essentially automating the process as I might not be there to watch the price do its thing or can it only be done manually?

Thanks

yeah that is pretty easy to achieve via mt4
I can do that for you

togr

Členem od Feb 22, 2011 4573 příspěvků

Nov 24, 2020 at 07:45

Členem od Feb 22, 2011 4573 příspěvků

Dr_BigC posted:
New to MT4. Does anyone know if or how to partially close a position using a pending order. For Ex. say I open a 2 lot BUY position on EUR/USD at 1.18500 with SL 1.18350 and TP 1.18850. Then when price gets to 1.18650 and I want to scale out my position and maybe move SL to break even, can this be done using a pending order, essentially automating the process as I might not be there to watch the price do its thing or can it only be done manually?

Thanks

I want to scale out my position and maybe move SL to break even - yes you can modify the position's SL via EA or manually.
, can this be done using a pending order - nope you have to modify existing position,
, essentially automating the process as I might not be there to watch the price do its thing or can it only be done manually? - both ways are possible either EA or manually.

SteveHanks

Členem od Mar 17, 2021 494 příspěvků

Jul 04, 2021 at 09:04

Členem od Mar 17, 2021 494 příspěvků

MT4 is the best trading platform.

Aurisida

Členem od Nov 23, 2020 41 příspěvků

Jul 10, 2021 at 04:57

Členem od Nov 23, 2020 41 příspěvků

As for me, this platform is one of the most convenient and easy to use, and you can figure it out very easily.

PiquieFX

Členem od Jul 19, 2021 6 příspěvků

Jul 19, 2021 at 13:30

Členem od Jul 19, 2021 6 příspěvků

tdameritrade is one of the best for stock trading =)
have a look at that one and you will see that every other platform sucks =)

Aubrey22

Členem od May 31, 2021 44 příspěvků

Jul 19, 2021 at 14:05

Členem od May 31, 2021 44 příspěvků

Is the MT4 a better trading platform for beginners, or is there another suitable platform that beginners can use?

78678676

Členem od Oct 16, 2020 125 příspěvků

Jul 20, 2021 at 06:11

Členem od Oct 16, 2020 125 příspěvků

To partially close an existing trade, please follow these steps:
• go to the ‘Trade’ tab in the Terminal window
• right click on the trade you want > Modify order.
• A pop-up will appear, with details about the trade. Under “ Type” , select “market execution”
• In the ‘Volume’ box, enter the lot size that you want to close
• Click on the yellow button ‘Close (order details) by Market’.
You have now partially closed your order.

Kazile

Členem od Apr 25, 2020 115 příspěvků

Jul 20, 2021 at 07:12

Členem od Apr 25, 2020 115 příspěvků

Of course, there are other platforms, but why do many recommend the MT - 4 platform because of its ease, clarity and accessibility

karenpeters

Členem od Jun 17, 2021 44 příspěvků

Jul 26, 2021 at 10:59

Členem od Jun 17, 2021 44 příspěvků

It can be manually done by going to the ‘close action’ on the open trade section. Then click on the contract size to make the desired changes.

EURUSD	1.17788	GBPUSD	1.36532	AUDUSD	0.65507
USDJPY	144.479	USDCAD	1.36033	USDCHF	0.79342

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Help with MT4