Halving position

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Hi Guys,


Can anyone tell me what's the most efficient way in MT4 to halve my position on a trade. For example I've made 20 pips on 4 mini contracts and I want to take the profit on two of the contracts and then continue with the trade on the other two contracts for another 20 pips.


In a long trade for example, do I have to close my trade on the 4 contracts and then buy another 2 contracts or should I just sell 2 contracts at the 2 pip mark leaving me with 2 contracts? Or is there a better way.


Cheers, Mark

 
suznmark:

Hi Guys,


Can anyone tell me what's the most efficient way in MT4 to halve my position on a trade. For example I've made 20 pips on 4 mini contracts and I want to take the profit on two of the contracts and then continue with the trade on the other two contracts for another 20 pips.


In a long trade for example, do I have to close my trade on the 4 contracts and then buy another 2 contracts or should I just sell 2 contracts at the 2 pip mark leaving me with 2 contracts? Or is there a better way.


Cheers, Mark

Hi Mark

You could close all and then re-buy/sell 1/2 the amount but you will be paying more spread and/or commission. Your first idea is the best, just close out 1/2 the position using something like:

OrderClose(OrderTicket(),OrderLots()/2,varClosePrice,varSlippage,varColour);

 
Cheers
Stu

 
Filter:

Hi Mark

You could close all and then re-buy/sell 1/2 the amount but you will be paying more spread and/or commission. Your first idea is the best, just close out 1/2 the position using something like:

 
Cheers
Stu

Hi, I think you must normalize the lot size before that

int DigitLot = 2;
double Lot = NormalizeDouble(OrderLots()/2,DigitLot);
OrderClose(OrderTicket(),Lot,varClosePrice,varSlippage,varColour);
 
biantoro:

Hi, I think you must normalize the lot size before that

Yes, as well as other error checking (eg min lots)
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