Amazing Way to “Partial Close”

Trades Automatically in MT4

March 10, 2015

Rimantas Petrauskas

18 Comments

Forex, MT4 Tips and Tricks

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Let’s talk Partial Close (a.k.a. scaling out of position). I will explain how you can

close position partially in MetaTrader 4 platform and give you an opportunity to have

automated Partial Close option.

I am sure you already know what Partial Close is, but in case you haven’t heard of it

before let me explain.

Partial Close is when you close a fraction of your position to lock in profit and leave a

portion running to take advantage of any further price runs. Often Partial Close comes

in a combination with Break Even. This means that you move stop loss to an open

price or a few pips in profit.

A simple example would be if you hold a 1.0 lot trade and then once it reaches +50

pips in profit you close 25% of it (which would be 0.25 lot) leaving the rest of 0.75 lot

to run. At this point you can move stop loss to an open price so if the price reverses

you will get stopped out of that 0.75 trade with zero profit, but in overall you end up

in profit because you closed 0.25 trade at +50 pips previously. And if the price

continues to move in your favor obviously you can scale out again and again.

In this picture we see 75% of the EURUSD trade is still running while 25% of that trade was scaled out

(Partially closed).

I should note that Partial Close not always benefit the trader. It might not work on

some strategies and some might even produce worse results. Obviously, you need to

test Partial Close well on each of your strategies to see if it improves the strategy. And

when you are closing the trades note that Longs are closed at BID price and Shorts are

closed at ASK price.

More detailed explanation about Partial Close can be found on Tradimo.

Partially Closing Positions

in MetaTrader 4 The process is fairly very easy, however after speaking with a lot of traders I’ve found

out that only few of them know about this option.

In the picture below you see my list of trades running in the “Trade” tab of my MT4

platform.

List of open positions in the Trade tab of MT4 terminal.

To partially close that EURUSD short position I need to double click on any column

(except for the S/L and T/P columns) of that trade which would open a window like

this.

Order Close window in the MT4 platform from where I can scale out from a trade.

Note that “Volume” field shows “1.00” value, which is the size of my EURUSD

order. If I click the yellow “Close” button the whole order would be closed

completely.

To close only part of my order I need to enter lot size of how much I want to close

(scale out) in the “Volume” field. In the picture below you see I have entered 0.5 lot

size.

Closing half of the position in MT4 client terminal.

Now when I click the yellow “Close” button it would close only half of my position,

because 0.5 is half of my original 1.0 lot size. If I entered 0.25 lot size to close, this

would mean I am closing 25% of my initial 1.0 lot size order. As you might already

understand, you cannot close orders partially if they are lower than 0.02 size. I mean

you cannot close part of the 0.01 lot size trade, unless your broker supports lots lower

than 0.01.

Let’s see what happens when I click the yellow “Close” button now.

Partially closed order still running on MT4 account.

My order was partially closed and I have the remaining 0.5 lots still running. You can

see in the picture above the trade “Comment” column says “from #16785957” which

means this trade was scaled out from a trade #16785957. And if we look at the list of

closed orders in the “Account History” tab we will find this closed trade (0.5 lot) and

it has a trade comment which says “to #16799089“. It means that this order was scaled

out to a trade #16799089. This is how you can recognize if a trade was closed

partially or not.

Partially closed order in the Account History tab on MT4 client terminal.

Another way to close

orders partially

Instead of double-clicking, you can click right mouse button on the order you want to

close partially. When you do this a contextual menu will appear.

You can close trade partially from the contextual menu of a selected trade in the MT4 client terminal.

In this pop-up menu you need to select the “Modify or Delete Order” option which

would open another window which looks like this.

Order Modify window in MetaTtrader 4 client terminal from where you can perform Partial Close as well.

In order to close a trade partially you will have to choose another “Type” which

should be “Market Execution” or “Instant Execution” (depending on your account

type). Once you set proper “Type“, that window will turn into the exact same window

with the yellow “Close” button as you saw before, where it allows you to enter the lot

size you want to close in the “Volume” field. Enter a lot size you want to close and

then click the yellow “Close” button to close a portion of your trade.

Automated Partial Close Closing orders partially on MT4 is a manual process, but it can be automated with the

help of a special tools like Expert Advisors. Quite a lot of people been asking me for

years if I have such EA, so I have decided to create one and make it affordable nearly

to every currency trader.

My other intention is to add Partial Close feature to the Trader On Chart app and I am

working on this as well. But even without this option integrated into TOC app you can

still use both TOC and Partial Close EA in the same MT4. You just need to open

additional chart for each EA.

Downloading Partial Close

EA from the MT4 App

Market So here’s how you can get the Partial Close EA in 5 simple steps.

1. Login to MQL5

Community from your MT4

client terminal

If you are not logged into MQL5 Community you need to do this to download the EA.

In your MT4 client terminal navigate to Tools -> Options in the top menu.

MT4 client terminal top menu: Tools -> Options

In the “Options” window that will appear, open the “Community” tab.

Login or create a new user to access the MT4 app market from the Community tab of the Options window in

the MT4 client terminal.

If you do not have an account at the MQL5 Community (a.k.a. MT4 and MT5 app

market) then you can create it there by entering your login (create something you can

remember) and e-mail address. If you do have an account at MQL5 Community you

should click the “If you have an account, please login” link below the “Register”

button and enter your username and password.

Note: Even though it is named MQL5 Community, you will find apps and indicators

for both, MT4 and MT5 trading platforms. And NO, I do not think MT4 will be

gone anytime soon.

Logging into the MQL5 Community from the MT4 client terminal.

When you click OK your MT4 client terminal will log-in to the MQL5 Community

and you will be able to download MT4 Apps. You can check “Journal” tab to see if

you were logged in or not.

MT4 client terminal successfully logged into the MQL5 Community.

If you enter wrong login or password or you do not have an account on MT4 app

market you will see an error in the “Journal” tab.

Error logging into MQL5 market. Authorization failed because of wrong password.

2. Find Partial Close EA on

the app market When you are logged into the MQL5 Community on your MT4 client terminal you

need to switch to the “Market” tab at the bottom in order to download the Partial

Close EA.

Locating Partial Close EA application on the MT4 app market.

Once you switch to the “Market” tab (1) you then select the “Applications” tab (2).

Then type “partial close ea” in the search field (3) and my Partial Close EA should

appear in the search results (4). Click on the EA to open its page.

Note: You can also type my name “Rimantas” in the search field to find my apps.

3. Installing Partial Close EA

to your MT4 terminal

To install Partial Close EA to your MT4 client terminal you need to click the

“Download” button in the right-top corner. This will download the EA and install it

for you.

Partial Close EA product page on the MT4 app market.

Once EA is downloaded and installed, it will appear in the “Navigator” window under

the “Expert Advisors -> Market“.

Partial Close EA in the Navigator window on MT4 platform.

4. Running Partial Close EA To run Partial Close EA you need to double-click it or drag-and-drop it to the

currency chart of your choice. Note that EA will apply partial close function only to

the trades of the same currency pair. This means if you attach EA to the EURUSD

chart then it will apply partial close function only to the orders of EURUSD pair.

Please make sure to read the instructions on the MQL5 Community to learn how to

use this EA. I am really very busy already answering hundreds of email messages

each week, so any questions that are already explained and answered on my website

or this product website might be unanswered.

Click here for Partial Close EA detailed instructions.

5. Leave a review on MQL5

Community After few weeks of using my Partial Close EA, please go to the product page on MT4

app market and leave a review.

Leave a review for my Partial Close EA on MT4 App Market.

This is a very simple process. All you need to do is to open a “Review” tab, click the

“Add review” link and write a review Thank You.

Conclusion This blog post will definitely help you learn how to close your positions partially

(scale out) in the MetaTrader 4 platform. It also explains how you can program your

MT4 to apply Partial Close function automatically for you.

Now tell me in the comments below, was this helpful?

Would you be interested to learn how you can implement partial close function into

almost any Expert Advisor MQ4 file that you have?

Related Posts:

1. How to Close All Open Trades on MT4 at Specific Time

2. Amazing Way to Analyze Over 100 EAs on Single MT4 Account

3. Easy Way to Open Same Trades on Many MT4 Accounts At Once

4. Candlestick Charts: Read & Understand 15 Amazing Patterns

How to Hide Stop Loss and Take Profit on Many Pairs at Once

Range Box Trader v2.1 released

About the author

RIMANTAS PETRAUSKAS

First I am a father, a husband and then the author of the book “How to Start Your Own Forex

Signals Service”. I am also a Forex trader, a programmer, an entrepreneur, and the founder of ea-

coder.com Forex blog. I have created two of the most popular trade copiers and other trading

tools for MT4 that are already used world wide by hundreds of currency traders.

View all postsAuthor websiteFacebookGooglePlusInstagramLinkedINTwitterYoutube

18 Comments Leave a comment

James says:

March 11, 2015 at 6:42 pm

Rimantas,

Not sure what I am doing wrong, but followed the above instructions a few times and can’t seem

to access the market tab at the bottom of the MQL5 community. Just can’t see it when I log in.

This is an EA I could use so pretty keen to get my hands on it. Thanks. Jim

REPLY

o Rimantas Petrauskas says:

March 11, 2015 at 7:57 pm

Dear James,

my friend had this problem. It was solved when he upgraded Internet

Explorer to version 8 on his computer (I think it was on VPS server).

Basically for the Market tab to appear you need to have at least Internet

Explorer 8 on your computer.

REPLY

scalpingblog says:

March 13, 2015 at 6:52 pm

I am in… could use some trade management, you will get my review in few places..

REPLY

o Rimantas Petrauskas says:

March 13, 2015 at 7:03 pm

Awesome. Thanks!

REPLY

Alvi says:

March 16, 2015 at 7:01 am

Nice Tool. Great.

Just downloaded from MQL5 Community. One thing I can not but mention that you are excellent

to instruct anything you post. You always show every possible options with even screenshots

which make things understandable.

Will definitely leave a review on MQL community within weeks.

Take Care.

Thanks much!

REPLY

o Rimantas Petrauskas says:

March 16, 2015 at 10:56 am

Dear Alvi, thanks for your feedback. Doing my best. Hope my small

Partial Close EA gift will serve you well.

Regards,

Rimantas Petrauskas

REPLY

Forex Trades From The Week of 9th - 13th March 2015 | Vavatrade Forex Signals says:

March 16, 2015 at 9:08 pm

[…] was scaled out at about 144 pips last week and the rest closed today. I am using my newly

created Partial Close EA to scale out positions automatically. We already have another GBPUSD

Short […]

REPLY

Chris says:

March 23, 2015 at 4:44 pm

Is there a ETA on when its on Trader on chart? Please add more features! It’s definitely your best

EA in my opinion with so much potential.

REPLY

o Rimantas Petrauskas says:

March 23, 2015 at 4:57 pm

Chris, I am doing my best to add Partial Close option to the TOC, but I

think this won’t happen in the next 2 months. Maybe I will be able to

release this this summer.

REPLY

Felix says:

May 2, 2015 at 3:57 am

Hi,

I have tried to download this tool a few times, but it tells me installation is failed?? I am fairly

new, so not sure if I am doing something wrong, or its MT4. If you have any suggestions, would

be much appreciated.

Thanks,

Felix

REPLY

o Rimantas Petrauskas says:

May 2, 2015 at 10:15 pm

Hi,

I’ve seen some people having trouble with MQL4 Market on older VPS

or computers. After they installed latest .NET framework from Microsoft

website things start to work.

REPLY

Kim says:

June 4, 2015 at 10:28 am

This is pretty much exactly what I need – however I do need to move the stoploss at the same

time ?

I assume that is not in there ?

Is it feasible to put it in as a feature request

Thanks

Kim

REPLY

o Rimantas Petrauskas says:

June 4, 2015 at 3:18 pm

Dear Kim,

this feature already exists. Please read detailed info here.

https://www.mql5.com/en/market/product/8047

Regards,

Rimantas Petrauskas

REPLY

Miguel says:

August 28, 2015 at 9:36 am

Hi Rimantas I miss you. I notice you are no Eml’ing more trading tips those are very good, and I

like to thank you for the time you expend in that, may be your are to busy now. I like your page

and your sincerity in trading, blessings and thanks again

REPLY

o Rimantas Petrauskas says:

August 28, 2015 at 1:20 pm

Dear Miguel, thanks for your feedback. Yes, I am really busy this year

with my new projects. I am about to launch the Forex Signals Academy

in September, an online training on how to create your business and sell

products and services online.

Also, I am about to launch Autotrading Academy training program as

well, were me and my partner Justin will teach what we believe is the

best way to create, test and launch strategies for trading.

I do my best to find time for new blog posts, and still try to post at least

one detailed and helpful post every other month.

Regards,

Rimantas Petrauskas

REPLY

forex forum says:

January 1, 2017 at 5:30 am

Your style is very unique in comparison to other folks I have read stuff from.

Many thanks for posting when you have the opportunity, Guess I will just book

mark this web site.

REPLY

Vifra says:

February 9, 2017 at 9:25 am

What I find annoying about closing partially is that it removes the “original comment” in the

order that I set at the openning (and are very important to trace strategy results). Do you know a

way to avoid that so that the original comment remains??

REPLY

o Rimantas Petrauskas says:

February 9, 2017 at 12:04 pm

Yes, it’s annoying, but that’s the way MT4 works. We cannot change

this.

REPLY