DislikedHi guys
Just wanted to ask (forgive me still quite new). Whet you "take some money off the table" in your profitable trade how do you do that?
I'm using MT4 with Oanda and I have not got the option to take partial profit when I click modify order. Trying to for ex sell 0.25 in lot size when my 0.5 is in profit but geting the reply that Hedging is prohibited. Any other option available to me is to close trade completeley. Am I doing sth wrong here?
Many thanksIgnored
I don't use the mt4 but it should work the same as Java. You can't hedge but it should trigger an opposite order as a market order and reduce your position.
Ex you are long 200,000 units and you want to close half. If you open a market sell order for 100,000 units it should then leave your remaining position open for 100K units. If you are long say 200k units, and want to take half off at a particular price, by putting a sell limit at that price for 100k units it should reach that price then reduce your open long in half.
Give it a shot on demo
Best
Mike