Is it possible to adjust the position size of an open trade, e.g closing the trade by 50% while in profit ect?
Thanks
Thanks
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DislikedIs it possible to adjust the position size of an open trade, e.g closing the trade by 50% while in profit ect? ThanksIgnored
DislikedIs it possible to adjust the position size of an open trade, e.g closing the trade by 50% while in profit ect? ThanksIgnored
DislikedAll good examples but is there a way for broker to prevent messing up my order comment by tagging reference to the previous #ticket? I find this to be very annoying and messing up my EA which looks for certain criteria against open orders. Any solution or alternatives? I believe all mt4 brokers do this with partial close orders :-(Ignored
DislikedThere's actually a clever (no-cost) way you can scale out with limit orders which is more profitable (for obvious reasons). Full details in this post.Ignored
Disliked{quote} Partial closing of positions is a bad idea in MT4. It's always messy. If you want to scale out of positions, the best way is to plan this in advance when you open the position. For example, if you trade 1 Lot you can open a block of 3 orders 0.33 lots each. The trades will retain the indexing order even if you modify SL/TP. And you can close any of the trades at any time. At least that's how I do it :/Ignored
Disliked{quote} Thanks man. I never partial close or scale out by design. I only scale in via stacking if price moves in my favor or if I get another signal on the same pair but different timeframe (or scale or setup). The only reason for me to partial close is part of my DrawDown Manager function. If maxDD% is reached, I am forced to reduce exposure (per my trading plan) via closing MINLOT of the highest losing position in my portfolio until drawdown returns back to under the required % level. Any creative ideas how to circumvent this? Partial close instead...Ignored
Disliked{quote} If you're talking about your EA, it's simple (to describe anyway) you calculate your max drawdown levels and take set partial stop orders as price moves against your position. Use OrderCloseBy and you won't get charged extra fees.Ignored