How do you take partial profits in MT4? | Forex Factory

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How do you take partial profits in MT4?

  • #1
  • First Post: Feb 7, 2011 6:26am Feb 7, 2011 6:26am
Hello fellow please how can a trader do-take profit 1 (tp1), take profit 2 (tp2) and on .......

just like your in a trade and you want to take some profit off the table and let some percentage continue running

please how can one do that? thanks in advance
  • #2
  • Feb 7, 2011 12:55pm Feb 7, 2011 12:55pm
Quoting webglobe
Hello fellow please how can a trader do-take profit 1 (tp1), take profit 2 (tp2) and on .......

just like your in a trade and you want to take some profit off the table and let some percentage continue running

please how can one do that? thanks in advance
If you want to use Take Profits, then you need to decide at the time you place the trade, and create separate component orders with different TP levels. You can later modify the location of these levels (but not the sizes of the positions).

However, you can also close part of a position at any time by setting the Volume field to the lot size that you want to close. MT4 then closes that part, and creates a new trade for the remainder of the position.
  • #3
  • Feb 7, 2011 2:26pm Feb 7, 2011 2:26pm
I prefer Hanover's choice #1. If you want to scale out in thirds, say, then you'd enter 3 separate orders, each with its own TP. Takes care of itself then.

It's how I do it.
You are in a maze of twisty little passages, all alike.
  • #4
  • Feb 8, 2011 9:36am Feb 8, 2011 9:36am
thanks to hanover & stevegee58 i appreciate ur help. now i got it and using it now
  • #5
  • Jul 14, 2013 8:23pm Jul 14, 2013 8:23pm
Hi is that all opening 2-3 positions before you can make partial profit? sorry am not satisfied with that answer i have seen a trader's video taking like 2 lot profit from a 3 lot trade but i can't remember how can somebody help please!
  • #6
  • Jul 15, 2013 3:27am Jul 15, 2013 3:27am
Quoting Muyen
Hi is that all opening 2-3 positions before you can make partial profit? sorry am not satisfied with that answer i have seen a trader's video taking like 2 lot profit from a 3 lot trade but i can't remember how can somebody help please!
You have 2 solutions to take partial profits. Both are well explained in the posts above.
MT4/MT5 EAs/Indicators/Alerts coder
  • #7
  • Jul 15, 2013 5:09am Jul 15, 2013 5:09am
there is a "close partially" feature on iphone's MT4 app. I use that for closing partial positions. No idea how to close partial positions on MT4 besides opening multiple positions.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #8
  • Jul 15, 2013 5:37am Jul 15, 2013 5:37am
Quoting keroro0o0o
there is a "close partially" feature on iphone's MT4 app. I use that for closing partial positions. No idea how to close partial positions on MT4 besides opening multiple positions.
You have to disable 1 click trading. Tools/Options/Trade tab. (If you don't disable 1 click trading you will not get the option to close part of the trade and the full trade will be closed when you click on "Close Order")
Then right click on the trade and click "Close Order"
In the window that pops up, click on the figures in the "Volume" box. Over write with the lot size amount that you want to close. Then click on the yellow close box.
Please Do Not PM Me With Coding Enquiries
  • #9
  • Jul 15, 2013 9:52am Jul 15, 2013 9:52am
Quoting Gumrai
{quote} You have to disable 1 click trading. Tools/Options/Trade tab. (If you don't disable 1 click trading you will not get the option to close part of the trade and the full trade will be closed when you click on "Close Order") Then right click on the trade and click "Close Order" In the window that pops up, click on the figures in the "Volume" box. Over write with the lot size amount that you want to close. Then click on the yellow close box.
Huah, thanks alot for the tip buddy. Really helpful!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #10
  • Jul 18, 2013 7:41am Jul 18, 2013 7:41am
Quoting Gumrai
{quote} You have to disable 1 click trading. Tools/Options/Trade tab. (If you don't disable 1 click trading you will not get the option to close part of the trade and the full trade will be closed when you click on "Close Order") Then right click on the trade and click "Close Order" In the window that pops up, click on the figures in the "Volume" box. Over write with the lot size amount that you want to close. Then click on the yellow close box.

HI Thanks alots That is the solution to my question
  • #11
  • Jul 26, 2013 11:30am Jul 26, 2013 11:30am
Has anybody here actually been successful at placing different take profit levels for a particular currency pair? I have tried opening multiple positions and every time I change the take profit amount, the other positions change their amount to the same. I can partially close a position with instant execution but I'm unable to set a partial position in advance with take profit, the volume is locked in when changing the take profit levels. The one click trading only adds or subtracts the close box in the terminal. The only solution I can think of would be to have two separate accounts with two different brokers in order to open two separate positions at the same time in order to set separate take profit levels. But that seems like twice the mouse clicks than should be necessary to open or change sl levels. Maybe only some of the brokers allow this and if so which one, or maybe its a certain type of account. If you are successful please tell me your details.

Thanks,

A
  • #12
  • Jul 26, 2013 3:58pm Jul 26, 2013 3:58pm
Quoting Anarchy
Has anybody here actually been successful at placing different take profit levels for a particular currency pair? I have tried opening multiple positions and every time I change the take profit amount, the other positions change their amount to the same. I can partially close a position with instant execution but I'm unable to set a partial position in advance with take profit, the volume is locked in when changing the take profit levels. The one click trading only adds or subtracts the close box in the terminal. The only solution I can think of...
I don't see that it is possible that changing the TP on one position would automatically change the TP on a different position unless you have an EA running that is doing it.
Attached chart shows 2 orders with EURJPY with modified TP, changing one does not change the other.
Attached Image (click to enlarge)
Click to Enlarge Name: ava metatrader.png Size: 32 KB
Please Do Not PM Me With Coding Enquiries
  • #13
  • Jul 27, 2013 4:56pm Jul 27, 2013 4:56pm
Quoting Gumrai
{quote} I don't see that it is possible that changing the TP on one position would automatically change the TP on a different position unless you have an EA running that is doing it. Attached chart shows 2 orders with EURJPY with modified TP, changing one does not change the other. {image}
Glad to hear its not a problem for everyone so hopefully I can figure out how to change it. I haven't knowingly installed any EA's. How could I disable such EA or have you seen any settings that would change it?
  • #14
  • Jul 29, 2013 8:01pm Jul 29, 2013 8:01pm
My broker just got back to me, it's because of the FIFO rule in the states so they net all orders of the same pair. Only way around is to have multiple accounts like I thought. So lame, Oh well.
  • #15
  • May 19, 2014 4:47am May 19, 2014 4:47am
The only thing lame is your broker. DO NOT USE fifo brokers, FIFO only benefits two people, the broker and the taxman.
  • #16
  • Last Post: Jan 3, 2020 10:05am Jan 3, 2020 10:05am

  1. Gumrai

You have to disable 1 click trading. Tools/Options/Trade tab. (If you don't disable 1 click trading you will not get the option to close part of the trade and the full trade will be closed when you click on "Close Order")
Then right click on the trade and click "Close Order"
In the window that pops up, click on the figures in the "Volume" box. Over write with the lot size amount that you want to close. Then click on the yellow close box.
———————————————————————

Thanks @Gumrai, your suggestion worked perfectly for taking partial profit on an existing order. Thanks once again.

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