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Old 02-06-2008, 11:25 AM
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close half a position - newbie question

I tried asking this once already, and the admin moved the post to the programming forum. Its not a programming question, it is simply a question on how to use MetaTrader. Is there a better forum for simple MetaTrader usage questions? It should be an easy question, but I can't figure it out.

Say I have position open and I just want to close part of it, and leave part of it open. Surely this is easy to do with MetaTrader. Yet I don't see any such option. If I right-click on a position, it has things like close or modify. And modify allows me to change stop and limit. But, I don't see it having an option to change the number of lots I have.

So, I figured maybe if I put in a reverse order, like put in a sell order if I was going long or vise-versa. What I got in that case was two open positions, one long and one short for the same pair!

I'm at FXDD if that makes any difference. Thanks.
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Old 02-06-2008, 05:28 PM
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if you chose Close.
In the closing window you have one field where there is the lot size
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Old 02-06-2008, 05:38 PM
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ِAssume you open 1 Lot size trade (Figure 1).



When you close change the lot size to 0.5, then you close the half of the lot in this case (Figure 2).


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File Type: jpg fig1.jpg (42.6 KB, 86 views)
File Type: jpg fig2.jpg (46.3 KB, 85 views)
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Old 02-06-2008, 05:43 PM
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Ah, I'm an idiot. That's exactly what I wanted. I can't believe I couldn't figure that out myself. I just thought that in its terms, "close" meant the entire position, and therefore thought that I was really doing was a "modify". But "modify" doesn't let you modify the size of your position. That's where my mental block came from.

Thanks for the help. I'm embarrased...
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Old 03-09-2008, 03:37 AM
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code guru please cek your PM
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Old 03-09-2008, 06:11 AM
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Limit order partial close

Also handy to know can be how to close part of an order with a limit order.
In that case you simply place a (pending) limit order in the oposite direction of your open trade. When this limit is triggered and becomes an open position you have for half of your initial order a futile trade. (an open hedge buy and sell at the same time). Than you right click on the half position (that you last opened with the limit order) and click like usual "close order". But now in the type field you select "close with" and than you click the long yellow close button. After that, a new window will pop up with a list of open trades. You chose the trade from which you want to close half the position and click ok.
Now the futile combination will be closed. This is the last limit order and the half of the initial order.
Also important is that once the (half) limit order is open, you have a futile trade and you must not be nervous to continu the close procedure asap. Because the hedge limit order that you opened, freezes the pair in a fixed P/L , till you close them.
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