partially close position by opening opposite position

[Luandre Ezra]

Hi,

I limited my EA to run every minute or at the open of a new bar. I also want to do a partial close for my strategy. Because my EA only runs at least for every minute, sometimes when the volatility is high the price moves touching the partial close level and reverse at the same minute leaving the EA to miss partially close my position. To mitigate this I have an idea instead closing the trade I will place a limit order with the partial close volume. Anyone ever try this method and is there things that I need to aware while using this method?

[Yashar Seyyedin]

Luandre Ezra:

Hi,

I limited my EA to run every minute or at the open of a new bar. I also want to do a partial close for my strategy. Because my EA only runs at least for every minute, sometimes when the volatility is high the price moves touching the partial close level and reverse at the same minute leaving the EA to miss partially close my position. To mitigate this I have an idea instead closing the trade I will place a limit order with the partial close volume. Anyone ever try this method and is there things that I need to aware while using this method?

I recommend partial closure conditions to be checked on every tick while opening new position conditions be checked on new bar open. 

[fxsaber]

Luandre Ezra:

I have an idea instead closing the trade I will place a limit order with the partial close volume. Anyone ever try this method and is there things that I need to aware while using this method?

This is a common working practice for partial take profit.