How to Close a Trade on MT4
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If the market is not moving in the direction you want or you have already gained your profit target, you should close positions to minimize your risk or ensure your profit. To know “How to Close a Trade on MT4”, follow the guide below.
How to Close a Order in MetaTrader 4
And the main method to close orders in MT4 is:
There are several ways for you to close orders in the MetaTrader 4 platform.
- To right-click your trade in the ‘Trade‘ tab in the Terminal window, and select ‘Close Position‘.
- The ‘Order’ popup will appear, click on the ‘Close‘ button at the bottom
- Then press Ok to execute.
Right after that, go to your ‘Account History’ in the terminal section and you will find the details about the recently closed order.
Alternatively, you can double click on the trade in the Terminal window or in the Market Watch window, then press ‘Close‘ to close the position. Or you can also use the “X” next to the position you wish to close.
How to Close a Position Partially in MT4
Risk management is one of the keys to successful trading. And in many cases, dividing trades into two (or more) parts can help you protect your investment and ensure a small but consistent profit.
The partial close feature in the MT4 platform allows you to close a specific amount of an open position, or withdraw a portion of the capital you’ve previously invested in an asset.
To do so, in the ‘Order’ window, reduce the trading volume to the desired amount. The specific steps are shown below:
- Right-click your trader in the ‘Trade‘ tab in the Terminal window, and select ‘Close Position‘.
- The order modification window will be shown. In the ‘Volume’ field, enter the amount of trading volume you want to close. Remember that the number you select displays the amount that will be closed, not the one that remains.
- Then click ‘Close‘ at the bottom and press Ok to execute.
By executing a partial close on a trade, you may ensure a minimum profit from each trade by closing the first component and then closing the second section for a larger profit.
After performing the above steps, you have successfully closed the order, the profit (or loss) of the closed order will be added immediately to the Equity of the account.
In addition, if you don’t want to close the order manually, you can easily close the orders automatically by using Stoploss and Take Profit and setting these values as you like.