Is it possible to place an order on mt5 and have partials taken automatically at a certain level?

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There is likely already an indicator for this, but I haven't come across it just yet. Thank in advance :)
 
Soul8:
There is likely already an indicator for this, but I haven't come across it just yet. Thank in advance :)

I don't know which's that indicator, but you need some other condition to make PositionClosePartial (usually breakeven, but it also could be a money/percent target).

 
David Diez #:

I don't know which's that indicator, but you need some other condition to make PositionClosePartial (usually breakeven, but it also could be a money/percent target).


I would know my price target, but I don't know how to set up a trade to close partials automatically at that first target price...that is what I am looking for specifically

 
Soul8 #:

I would know my price target, but I don't know how to set up a trade to close partials automatically at that first target price...that is what I am looking for specifically

An indicator can't trade.

You can't do that through the MT5 GUI only, you would need to code it. An intermediary solution do it hand "by hand" is the open several trades at the same time, with different TPs (and adjusted lotsize).

 
Alain Verleyen #:

An indicator can't trade.

You can't do that through the MT5 GUI only, you would need to code it. An intermediary solution do it hand "by hand" is the open several trades at the same time, with different TPs (and adjusted lotsize).

I had though about opening multiple trades and splitting the lot size as you mentioned...but unfortunately with the strategy price moves so quick out of the zone at times that I dont have that luxury. 

 
Soul8:
There is likely already an indicator for this, but I haven't come across it just yet. Thank in advance :)

For mt5, place the the reverse trade, and the lot size to be closed at the price you want to close partial. Meaning if you open 0.8(sell at 1800) lot size in Gold, and want to close partial(0.4 lot) at 1745(place a limit buy trade of 0.4 at 1745).

 
Thank-god Avwerosuoghene Odukudu #:

For mt5, place the the reverse trade, and the lot size to be closed at the price you want to close partial. Meaning if you open 0.8(sell at 1800) lot size in Gold, and want to close partial(0.4 lot) at 1745(place a limit buy trade of 0.4 at 1745).

This is only valid if it concerns a Netting account.

 
Enrique Dangeroux #:

This is only valid if it concerns a Netting account.

Which other type of account is available for mt5, and which broker?

 
Thank-god Avwerosuoghene Odukudu #:

Which other type of account is available for mt5, and which broker?

I am not the authority, but I feel like a hedging account is an alternative to a netting account
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