"Take Profit" suggestion / question...

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With MT4, is it possible to fix the "Take Profit" box so that position size can be specified? For example, I would like to be able to place a market order for 2 lots with a stop at 1.2000 and a "Take Profit" for ONE LOT ONLY at 1.2025.

This would mean I have an order in place, with a stop, and if that order makes it to +25, then half of the position will be closed, half will remain open AND the original stop will remain in place.

Is this possible? Or, can someone suggest an alernative method to accomplish the goal of being able to liquidate half of an open position with a pending order while keeping the original stop in place and not exposing a naked order to the markets should the original order get stopped out?

Thanks.
 
to do this you would have to write an EA, but it is perfectly possible.
 
to do this you would have to write an EA, but it is perfectly possible.


Thanks Tony,

However, this is not a complicated provision and the option to specify lot size pertaining to the "Take Profit" entry on the order dialogue would prevent the need for writing an EA. Further, I suspect that this action is very commonly taken by numerous traders.

If writing an EA, you could also take the additional step of moving stops to break even after the initial objective was met. But again, I'd like to see the feature added to MT.

Thanks.
 
true true
 
gc48aec41e5e584 :
to do this you would have to write an EA, but it is perfectly possible.


Thanks Tony,

However, this is not a complicated provision and the option to specify lot size pertaining to the "Take Profit" entry on the order dialogue would prevent the need for writing an EA. Further, I suspect that this action is very commonly taken by numerous traders.

If writing an EA, you could also take the additional step of moving stops to break even after the initial objective was met. But again, I'd like to see the feature added to MT.

Thanks.

You can already manipulate the order manually, so the code exists. I can't imagine not being able to just enter a sell order and attach it to existing buy order to take partial position of existing order... Why would this not be common on mt4, it is very common on most other platforms...

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