I noticed that a lot of traders mentioned they will exit 50% lot when in profit and let another 50% lot to ride.may i know how to do that?
MT4 mistaking partially closed 'in profit' trades for deposits 0 replies
Put orders to partially close positions? 2 replies
I'm looking for coding help for a partially coded EA 2 replies
EA (Trade Manager) To Close Position Partially At Intervals 2 replies
DislikedI noticed that a lot of traders mentioned they will exit 50% lot when in profit and let another 50% lot to ride.may i know how to do that?Ignored
DislikedEnter the Trade with Multiple {Micro, Mini or Full} Lots then Close a portion of them to take some Profit off the Table.
eg.only
Buy 10 Micro Lots and hold for 10 pip profit on each. {100 pip Profit on Trade}
Exit 5 Micro Lots {Take 50 pip Profit off the table}
Set New SL to half way between Trade Entry and Exit 5 for Remaining 5 Micro Lots and you now have a FREE 5 Micro Lot Trade. {barring slippage}
hth.Ignored
DislikedI trade with Oanda so I can make my position size whatever I want it to be. So lets say I go short with 100,000 units and the trade goes in my favor. If I want take some money off the table I can put in a market order going long for 50,000 units. This will close out half of my short position, leaving me with 50,000 still in the trade.Ignored
DislikedIf you have Short 100 000 units in Oanda, and then buy 50 000 units, Oanda will close 50 000 units from the short and thereby you get your profit/loss.
An other way to do it, is to open 2 or more positions in the same direction, and set different take profits.Ignored
DislikedSince you mentioned MetaTrader, I'll use the typical MetaTrader "no commission" broker as an example.
Let's say you decided to go long (purchase) 1 lot GBPUSD when the market price is 1.3010 by 1.3006. Lucky guy that you are, the market price shoots up immediately to 1.3034 by 1.3030. You decide to sell half your position and let the other half ride. The market's hot and moves up to 1.3054 by 1.3050 where you close the rest of your position.
Let's figure out what you payed and what you made.
Bought 1 lot @ 1.3010 (Ask price).
Sold .5 lot @ 1.3030. (Bid price)
Sold .5 lot @ 1.3050. (Bid price)
You made 20 pips on a full lot ($200) and 20 pips on a half lot ($100). You made three hundred dollars and you're buying drinks tonight.
Let's say that instead of buying one full lot, you decided to buy two .5 lots. Assuming the market moved the same way, let's figure out how much you made and what the difference in cost is.
Bought .5 lot @ 1.3010. (Ask price)
Bought .5 lot @ 1.3010. (Ask price)
Sold .5 lot @ 1.3030. (Bid price)
Sold .5 lot @ 1.3050. (Bid price)
You made 20 pips on half a lot ($100) and 40 pips on half a lot ($200). You made three hundred dollars and you're buying drinks tonight.
Regardless of how you work it, you're paying the spread, and exactly the spread. Now, it works a bit differently for brokers who charge a commision, but it doesn't sound like that's your situation.Ignored