How to enter a pending order to close half position?

Hi,

I have not been able to understand how to enter a pending order to close half of an existing position.

For example,

I bought 2 Lots of EURUSD at 1.3623 with 1.3590 as SL and 1.3690 as TP.
Current price is 1.3630.
Now, I want to close 1 lot when price reaches 1.3650. How do I enter a pending order for that?

Help will be much appreciated.

You cant do it with a pending order. You need a EA for partial closes. PM me if you need something custom. A search for a Trade Manager might be all you need.

Hi!

Thanks for the fast response...

I have already taken a look at the trade managers...they are not useful for me as they have fixed TP and SL settings...I have multiple trades running with different number of pips/% as SL and TP.

I think the best options is that while entering a position, instead of buying 1 lot, I should buy 0.5 lots two times, each having different TP level but same SL.

If you know from the beginning on that you will partially close in certain steps you could open 2 separate trades and use their individual take-profits for this.

Fortunately MT5 will finally solve this annoying MT4 problem, here you can just enter a pending sell limit and this would do exactly what you need. Alternatively you could consider using a different broker who does not constrain you to MT4 and its annoying limitations.