Closing half of my position on Oanda | Forex Factory

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Closing half of my position on Oanda

  • #1
  • First Post: Aug 6, 2008 9:02am Aug 6, 2008 9:02am
If I have multiple short position on eur and I want to close half of a specific position is it possible?

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  • #2
  • Aug 6, 2008 9:23am Aug 6, 2008 9:23am
Quoting Bridge
If I have multiple short position on eur and I want to close half of a specific position is it possible?

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actually it doesnt matter which specific position u close partially , ur resultant will be the same (balance + unrealized p&l)
if u have 9,000 short eu totally on all position, n wanna close a third , u just need to buy 3000 manually , whichever oanda closes doesnt matter in the resultant ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #3
  • Aug 6, 2008 11:48am Aug 6, 2008 11:48am
Quoting maheswara
actually it doesnt matter which specific position u close partially , ur resultant will be the same (balance + unrealized p&l)
if u have 9,000 short eu totally on all position, n wanna close a third , u just need to buy 3000 manually , whichever oanda closes doesnt matter in the resultant ...
In fact it matters for me let me explain if I have two position long one with 10 000 with a stop at 1.5000 and one with 5000 with a stop at 1.5050 and I want to close 2500 of my 5000 position,... I sell 2500 but they sell 2500 of my 10 000 position wich is the one that I want to keep because of the stop that I have on this one. I think they sell those unit on the oldest position my guess!!! so if my 5000 position is stop out it will remain only 7500 for my long position but if I close 2500 on my 5000 position and it is stop out it will remain 10 000 for my entire long position!! I guess they do this to make sure that you bring your stop as close to the market to get better chace to stop you. But is there a way to close certain amount of unit on a specific position?
  • #4
  • Aug 6, 2008 11:52am Aug 6, 2008 11:52am
Quoting Bridge
In fact it matters for me let me explain if I have two position long one with 10 000 with a stop at 1.5000 and one with 5000 with a stop at 1.5050 and I want to close 2500 of my 5000 position,... I sell 2500 but they sell 2500 of my 10 000 position wich is the one that I want to keep because of the stop that I have on this one. I think they sell those unit on the oldest position my guess!!! so if my 5000 position is stop out it will remain only 7500 for my long position but if I close 2500 on my 5000 position and it is stop out it will remain 10 000 for my entire long position!! I guess they do this to make sure that you bring your stop as close to the market to get better chace to stop you. But is there a way to close certain amount of unit on a specific position?
Nope, the best thing to do is break your initial positions up if you believe you are going to close partial later on. For example instead of buying 5000 initially. Buy 2500 and 2500 at the same price. So later on you h ave the ability to close out.

As far as I know that is the only way if you want to keep that initial specific position.
  • #5
  • Aug 6, 2008 12:04pm Aug 6, 2008 12:04pm
Quoting mbqb11
Nope, the best thing to do is break your initial positions up if you believe you are going to close partial later on. For example instead of buying 5000 initially. Buy 2500 and 2500 at the same price. So later on you h ave the ability to close out.

As far as I know that is the only way if you want to keep that initial specific position.
Bingo, Thank you thats wath I was looking for
  • #6
  • Last Post: Aug 28, 2012 7:42pm Aug 28, 2012 7:42pm
just place an opposite order at Market price for the units you want to close.

Example:
1) I have 10000 units SELL on EURUSD and I have profit of +50pips
2) I want to close 5000 units now; I just place a BUY order for 5000 units at Market price. This will close half of my position; It is a weird way of closing.

This is based on OANDA US FxTrade.
I am not sure if the same thing valid in UK as they allow hedging in UK
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