Close partially, least profitable trade
-
Morning all, struggling, need advice...
If I have several long trades open and I want to reduce the volume of the least profitable one, what can I do?
I can see the Close Partially block (in loop, pink) and the Close Least Profitable block (blue), but I'm not sure that'll do the trick. The Close Partially block states that it closes the original position and re-opens a new one with the new volume. But would that be at current price? Or the original Open Price? Confused.
Thx.
-
Is the current price, place multiple trades, then close however many you need to reduce the lot amount.
-
Hi jstap, thx for reply, but don't quite understand... so to find the least profitable trade out of a group of trades (in a bucket?), how would I do that? Would I use the in-loop block or something?
-
It all depends on how the trades are placed, you could, for example, place 4 trades instead of 1 with 1/4 lot size, then use a group number specific to this group of trades, then when you want to close some, close and check the running number, close another until the correct number of trades are running.
-
Thx jstap. But in my use case the volume to partial close is variable (variable set). What I really want is... at the time of closing Trade1, search all open positions and partial close the least profitable. i.e. is there a way to search for and identify the least profitable, to then close partially? I can see that close partial is only possible with the pink block, in the loop, so I'm playing around with that. Any help appreciated...
-
Yes but as of the start, you can't partially close a position without opening a new one, which is why I said you will have to open many, so you can then close some.
-
Yes I see, my problem is getting worse
I figured the above out, I have managed to establish my biggest loser (using a little loop and variable, then a condition) but now my problem is...I have blocks that close profitable trades in 400 pips profit, but it's also closing these partials based on the new, partial trade, rather than waiting for it to be 400 pips in profit from when I opened it. Oh dear. Any ideas to get around this?
-
Add a shared link to look at what you are doing.
-
Is it possible to reference the original order after the partial close? (Without opening orders with group numbers)
-
I do not add to trades, I place a new one, so every trade is a parent trade.
-
You know what, this way of closing partials really isn't working for me. The new position (miles away from the original open) is really throwing me out. Is there a way to mimic exactly how partials occur in MT5? i.e. the volume of the original order is simply reduced, but the open price etc. stays the same? Is this possible with fxdreema?
-
Yes but you will have to put a shared link so where you are at can be looked at.
-
I would like to know how to partially close or reduce lots.
