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Partial Profit

  • #1
  • First Post: Feb 12, 2007 8:18am Feb 12, 2007 8:18am
Time and time again i hear of traders talking about closing a portion of a trade for partial profits. I use MT4 and was wondering if it is possible to close a certain percentage of a lot. For example, if i buy 1 lot EURUSD, can i only close .2 of the lot or 20% of that and let the other .8 lot of 80% ride. Or do i have to buy a .2 and a .8 lot?


thanks for the help, much appreciated.
  • #2
  • Feb 12, 2007 8:36am Feb 12, 2007 8:36am
Quoting nikim
Time and time again i hear of traders talking about closing a portion of a trade for partial profits. I use MT4 and was wondering if it is possible to close a certain percentage of a lot. For example, if i buy 1 lot EURUSD, can i only close .2 of the lot or 20% of that and let the other .8 lot of 80% ride. Or do i have to buy a .2 and a .8 lot?


thanks for the help, much appreciated.
If you're trading with a non-standard lot account (mini or micro) and your minimum lot size is 0.1 and you have traded 10 lots you'll have a trade size of 1.0. You could then close as many lots within that as you wish, so you would reduce your trade, after closing say 5 lots, to a trade size of 0.5 to let the rest run to your next TP point, or stoploss.

Not everyone feels this is the best strategy though, read this thread 'cos I had some concerns over taking profit too early.

Hope this helps
  • #3
  • Feb 12, 2007 9:28am Feb 12, 2007 9:28am
Thank yoy peter for your response, much appreciated
  • #4
  • Feb 12, 2007 9:46am Feb 12, 2007 9:46am
Hi, I use IBFX. I have mini-account. I can trade trade micro-lots (0.01 =1K) with leverage 1:100. This means 1 pip ~ 1 cent.
This is good for a small account ($ 500).
If you want to close partially, trade 0.1 lots and close 0.02 etc.

Hope this helps.

Liviu
Once A Trader Always A Trader.
  • #5
  • Feb 12, 2007 9:47am Feb 12, 2007 9:47am
Quoting nikim
Time and time again i hear of traders talking about closing a portion of a trade for partial profits. I use MT4 and was wondering if it is possible to close a certain percentage of a lot. For example, if i buy 1 lot EURUSD, can i only close .2 of the lot or 20% of that and let the other .8 lot of 80% ride. Or do i have to buy a .2 and a .8 lot?


thanks for the help, much appreciated.
Yes you can. One standard lot is really 10 mini lots so all you have to do is select the ticket and put lets say .2 in the lot box and click close. This will close 2 mini lots and leave 8 minis runing. Its that simple.
Good Luck!!
BigDog
  • #6
  • Last Post: Sep 30, 2007 4:20pm Sep 30, 2007 4:20pm
THKs, i will try
Once A Trader Always A Trader.
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