Scaling out/Partial close help
According to your own reasoning, that if 0.10 Lot is gaining 0.40, scaling-out 0.01 will take 0.40 pence, then why not close the whole position and take 400 pence and forget the scaling part all together?
Your programmer is right.
Regarding Q3, there is no best way.
Enrique Dangeroux:
According to your own reasoning, that if 0.10 Lot is gaining 0.40, scaling-out 0.01 will take 0.40 pence, then why not close the whole position and take 400 pence and forget the scaling part all together?
Your programmer is right.
Regarding Q3, there is no best way.
Is there an alternative way of scaling out?
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Hello,
Can someone help with this issue. I want to develop an EA that scales out or partially takes profit.
Example:
Symbol: Eur/usd
Original lot size: 0.10 Lot
Scale-out lot: 0.01 Lot
Scale-out profit: 0.40 pence
When the position gains 0.40, scale-out with 0.01. When it gains another 0.40, scale-out with another 0.01. So on and so forth.
However, my programmer said that this is not possible. That if 0.10 Lot is gaining 0.40, scaling-out 0.01 will only take 0.04 (0.40/0.10).
Question 1: Is this correct?
Question 2: How can I scale-out/partially close a position to take the entire 0.40?
Question 3: Is scaling out profit by percentage of lot size the best way to scale out?
I will really appreciate your assistance.