Closing half an order....

[pg tips]

When I hear talk of people "taking half profits and letting the rest run", how does this actually work on mt4? Do you have to open 2 positions and close one? I've noticed on their android mt4 app, there's a "close partial" option but I can't find anything similar on the desktop version. Thanks in advance, PG Tips.

 

[fxtwitter09]

Exactly. Open 2 positions: first half with fixed risk/reward i.e. 1:1, 1:2 etc. while you let the second half run as long as possible. Some platforms can do it automatically but not MT4.

 

[TheForexGuy]

You can do it with one order, you have to go to close the order but modify how many lots you would like to close off.

If you had a 2 lot trade open, you could close 1 lot off and still leave the other lot open and active. Not many people know about this one.

 

[pg tips]

Thanks chaps, much clearer to me now. Good luck.