i'm wondering if anyone knows of a way to close part of a position without opening an order in the opposite direction since this results in losing half the spread again.
for example:
assume long 1 lot @ 1100 and intednd to take profit on 50% of the position @1120 and the other 50% at 1140.
if i just go short .5 @ 1120 and price goes to 1140:
i close 1k @ 1140 so +40 pips
and have to buy .5 @ 1140+spread= lets say 1142.
so i'm 40*1 + .5(-22)= +29 pips.
so i lost 1 pip to the spread by opening a short position instead of closing .5 of my long which would result in
.5*20 + .5*40 = 30 pips.
any idea of how to do that in oanda? other brokers offer that?
Thanks!
for example:
assume long 1 lot @ 1100 and intednd to take profit on 50% of the position @1120 and the other 50% at 1140.
if i just go short .5 @ 1120 and price goes to 1140:
i close 1k @ 1140 so +40 pips
and have to buy .5 @ 1140+spread= lets say 1142.
so i'm 40*1 + .5(-22)= +29 pips.
so i lost 1 pip to the spread by opening a short position instead of closing .5 of my long which would result in
.5*20 + .5*40 = 30 pips.
any idea of how to do that in oanda? other brokers offer that?
Thanks!