Resolved Question
How to set multiple profit targets on metatrader4?
Hi, I have heard of people pulling out some of their profits at their first profit target and then closing their position and taking the rest of their profits at their second profit target. Can someone please explain to me if this is what people are talking about when they are setting their first and secondary profit targets and how i can do this using metatrader4? Thank You everyone you guys are awesome.
over 2 years ago
Best Answer - Chosen by Voters
Another alternative is two or more buy/sell orders. For your future questions, please check out the links provided below.
over 2 years ago
Source(s):
Answers (1)
That's easy my forex friend! All you have to do is set a partial buy/sell order. For instance, you went long 100,000 units EUR/USD at 1.3900 with a profit target at 1.4000. You decide you want to be able to take off half your position at 1.3950. What you do is set a sell order for 50,000 units at 1.3950 for EUR/USD and you're all set! Once price hits 1.3950, 50,000 units of EUR/USD will be sold off and the other half of your position will remain and target 1.4000. Easy, right? Happy trading!
over 2 years ago
* You must be logged in to add comments. Sign In or Join Askpips.com.
Resolved Questions in Beginner
- Should I go live? Please give me your advice on this.
- For a newbie, which currency pair do you think is the best to start with?
- Which do you think is better? Daytrading or Position Trading?
- For a newbie like me, is $1000 a good starting deposit in forex?
- I work full time and I'm wondering if signal providers really work. Has anybody had any experience with them?
* You must be logged in to add comments. Sign In or Join Askpips.com.