MetaTrader 4, also known as MT4, is one of the most popular trading platforms used by Forex traders. One of the key features of MT4 is the ability to partially close a position, allowing traders to reduce their exposure to a particular currency pair while still keeping some of the trade open.
In this article, we will explain how to do a partial close of a Forex order on MT4 mobile.
Step 1: Open the MT4 Mobile App
The first step is to open the MT4 mobile app on your smartphone or tablet. If you haven’t already downloaded the app, you can do so from the App Store or Google Play Store.
Step 2: Access the Trade Tab
Once you have opened the app, you will see several tabs at the bottom of the screen. The second tab from the left is the “Trade” tab. Tap on this tab to access your open trades.
Step 3: Select the Trade You Want to Partially Close
In the “Trade” tab, you will see a list of your open trades. Find the trade you want to partially close and tap on it to open the trade details.
Step 4: Access the Close Order Screen
Once you have opened the trade details, you will see several options at the bottom of the screen. The second option from the left is the “Close Order” button. Tap on this button to access the close order screen.
Step 5: Set the Partial Close Amount
In the close order screen, you will see the option to set the amount you want to close. By default, the entire trade size will be selected. To do a partial close, you need to adjust the lot size.
To do this, tap on the “Volume” field and enter the amount you want to close. For example, if you have a trade size of 1 lot and you want to partially close half of the trade, you would enter 0.5 in the “Volume” field.
Step 6: Submit the Partial Close Order
Once you have set the partial close amount, you can submit the order by tapping on the “Sell” or “Buy” button, depending on the direction of your trade.
You will then be asked to confirm the order. Review the details of the order and tap on the “Close” button to execute the partial close.
Step 7: Monitor Your Trade
After you have partially closed your trade, you can monitor the remaining portion of the trade in the “Trade” tab. You will see the updated trade size and profit/loss for the remaining portion of the trade.
Conclusion
Partial closing a Forex order on MT4 mobile is a simple process that can be done in just a few steps. By partially closing a trade, traders can reduce their exposure to a particular currency pair while still keeping some of the trade open. This can be especially useful in volatile market conditions or when traders want to lock in profits while still leaving some room for the trade to run.
