How to exit with partially profit? | Forex Factory

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How to exit with partially profit?

  • #1
  • First Post: Feb 19, 2007 11:06am Feb 19, 2007 11:06am
I noticed that a lot of traders mentioned they will exit 50% lot when in profit and let another 50% lot to ride.may i know how to do that?
  • #2
  • Feb 19, 2007 12:14pm Feb 19, 2007 12:14pm
Quoting amenlo9
I noticed that a lot of traders mentioned they will exit 50% lot when in profit and let another 50% lot to ride.may i know how to do that?
Enter the Trade with Multiple {Micro, Mini or Full} Lots then Close a portion of them to take some Profit off the Table.

eg.only

Buy 10 Micro Lots and hold for 10 pip profit on each. {100 pip Profit on Trade}
Exit 5 Micro Lots {Take 50 pip Profit off the table}
Set New SL to half way between Trade Entry and Exit 5 for Remaining 5 Micro Lots and you now have a FREE 5 Micro Lot Trade. {barring slippage}
hth.
  • #3
  • Feb 19, 2007 1:51pm Feb 19, 2007 1:51pm
Quoting Bemac
Enter the Trade with Multiple {Micro, Mini or Full} Lots then Close a portion of them to take some Profit off the Table.

eg.only

Buy 10 Micro Lots and hold for 10 pip profit on each. {100 pip Profit on Trade}
Exit 5 Micro Lots {Take 50 pip Profit off the table}
Set New SL to half way between Trade Entry and Exit 5 for Remaining 5 Micro Lots and you now have a FREE 5 Micro Lot Trade. {barring slippage}
hth.
so this is just same as lock 50% profit or hedging right?

before that i thought when we close the position,we can manually select how many Lot to be close in MT4 platform :.....
  • #4
  • Feb 20, 2007 1:26am Feb 20, 2007 1:26am
I trade with Oanda so I can make my position size whatever I want it to be. So lets say I go short with 100,000 units and the trade goes in my favor. If I want take some money off the table I can put in a market order going long for 50,000 units. This will close out half of my short position, leaving me with 50,000 still in the trade.
How you act is more important than how you feel.
  • #5
  • Edited 12:53pm Feb 20, 2007 2:51am | Edited 12:53pm
Quoting Warmagus
I trade with Oanda so I can make my position size whatever I want it to be. So lets say I go short with 100,000 units and the trade goes in my favor. If I want take some money off the table I can put in a market order going long for 50,000 units. This will close out half of my short position, leaving me with 50,000 still in the trade.
first entry was Short.you open 2nd Long position.but you haven't close your first position yet,how could you received that 50% short's profit?i still don't get what you mean.mind to elaborate more?sorry, i am newbie.
  • #6
  • Edited 10:29am Feb 20, 2007 10:19am | Edited 10:29am
If you have Short 100 000 units in Oanda, and then buy 50 000 units, Oanda will close 50 000 units from the short and thereby you get your profit/loss.

An other way to do it, is to open 2 or more positions in the same direction, and set different take profits.
  • #7
  • Feb 20, 2007 12:37pm Feb 20, 2007 12:37pm
Quoting grillbritt
If you have Short 100 000 units in Oanda, and then buy 50 000 units, Oanda will close 50 000 units from the short and thereby you get your profit/loss.

An other way to do it, is to open 2 or more positions in the same direction, and set different take profits.
i got what u mean.but open another new position will cause your lose some spread right?
  • #8
  • Feb 20, 2007 2:57pm Feb 20, 2007 2:57pm
Yes I think you lose the spreads but I'm not sure...
  • #9
  • Edited Feb 21, 2007 11:52am Feb 20, 2007 4:18pm | Edited Feb 21, 2007 11:52am
  •  tesla
  • Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Since you mentioned MetaTrader, I'll use the typical MetaTrader "no commission" broker as an example.

Let's say you decided to go long (purchase) 1 lot GBPUSD when the market price is 1.3010 by 1.3006. Lucky guy that you are, the market price shoots up immediately to 1.3034 by 1.3030. You decide to sell half your position and let the other half ride. The market's hot and moves up to 1.3054 by 1.3050 where you close the rest of your position.

Let's figure out what you paid and what you made.
Bought 1 lot @ 1.3010 (Ask price).
Sold .5 lot @ 1.3030. (Bid price)
Sold .5 lot @ 1.3050. (Bid price)
You made 20 pips on a full lot ($200) and 20 pips on a half lot ($100). You made three hundred dollars and you're buying drinks tonight.

Let's say that instead of buying one full lot, you decided to buy two .5 lots. Assuming the market moved the same way, let's figure out how much you made and what the difference in cost is.
Bought .5 lot @ 1.3010. (Ask price)
Bought .5 lot @ 1.3010. (Ask price)
Sold .5 lot @ 1.3030. (Bid price)
Sold .5 lot @ 1.3050. (Bid price)
You made 20 pips on half a lot ($100) and 40 pips on half a lot ($200). You made three hundred dollars and you're buying drinks tonight.

Regardless of how you work it, you're paying the spread, and exactly the spread. Now, it works a bit differently for brokers who charge a commision, but it doesn't sound like that's your situation.
  • #10
  • Last Post: Feb 20, 2007 11:03pm Feb 20, 2007 11:03pm
Quoting tesla
Since you mentioned MetaTrader, I'll use the typical MetaTrader "no commission" broker as an example.

Let's say you decided to go long (purchase) 1 lot GBPUSD when the market price is 1.3010 by 1.3006. Lucky guy that you are, the market price shoots up immediately to 1.3034 by 1.3030. You decide to sell half your position and let the other half ride. The market's hot and moves up to 1.3054 by 1.3050 where you close the rest of your position.

Let's figure out what you payed and what you made.
Bought 1 lot @ 1.3010 (Ask price).
Sold .5 lot @ 1.3030. (Bid price)
Sold .5 lot @ 1.3050. (Bid price)
You made 20 pips on a full lot ($200) and 20 pips on a half lot ($100). You made three hundred dollars and you're buying drinks tonight.

Let's say that instead of buying one full lot, you decided to buy two .5 lots. Assuming the market moved the same way, let's figure out how much you made and what the difference in cost is.
Bought .5 lot @ 1.3010. (Ask price)
Bought .5 lot @ 1.3010. (Ask price)
Sold .5 lot @ 1.3030. (Bid price)
Sold .5 lot @ 1.3050. (Bid price)
You made 20 pips on half a lot ($100) and 40 pips on half a lot ($200). You made three hundred dollars and you're buying drinks tonight.

Regardless of how you work it, you're paying the spread, and exactly the spread. Now, it works a bit differently for brokers who charge a commision, but it doesn't sound like that's your situation.
thanks for your explanation.so there is no way to avoid spread when i want to close half of my position.broker is always the winner
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