How to execute partial close on a trade in MetaTrader 4?
You have already installed MetaTrader 4 and learned the main requirements for trading Forex, indices, commodities or CFDs. After mastering the basics of placing orders, you can also start exploring the options for partial close in MT4. The partial close is a feature that allows you to only close part of a trade, therefore securing at least a small profit from early close on a portion of that trade.
This article will help you to utilize partial close in MT4. If you are using MetaTrader 5, please read Eightcap’s MT5 article.
This MetaTrader 4 tutorial will help you to:
- Close trades on your MetaTrader 4 platform;
- Use the Order window;
- Add and remove indicators;
- Learn how to partially close a trade;
- Calculate Volume when closing a trade;
How to close trades in MT4
In MetaTrader 4 you can close your trades from the Order window.
Additionally, with right-click on the trade in the Terminal window or in the chart, you can select to close, modify the order or to add a trailing stop. You can also use the “x” to close trades if One Click Trading is enabled.
If you want to learn the basics of placing, modifying and closing orders, please read our “How to open and close trades in MetaTrader 4?” tutorial.
How to execute partial close on a trade in MetaTrader 4
Managing risk is an important part of every well-thought-out trading strategy and in many cases dividing trades into two (or more) portions can secure your investment and guarantee a small and steady profit. With partial close, you can secure a minimum gain from every trade with the first portion you close, and eventually a greater profit with the second portion.
The MetaTrader platform allows you to close positions partially: to do that you need to reduce the trading volume to the amount you want in the “Order” window.
Let’s open 1 full lot of the EUR/AUD pair by setting the volume from the Order window or the One Click Trading panel.
Once the trade is open you can see the lot size in the Terminal window.
To close only a subset of the order, right-click on it and select “Modify or Delete Order” from the menu.
The Order window will open. Select “Market Execution” from the Type section in order to change the lot size. Let’s choose to close a very small part of the trade by selecting 0.03 from the Volume section. The number you select shows the amount that will be closed, not the one that remains.
The size of the trade we want to close is selected, so you can click the Close button to execute.
The remaining volume of the trade is now visible in the Trade tab of the Terminal.
It is 0.97 in this example.