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How to take profit 50% of my position at a certain level


kwanchichi

Question

How do I set up a trade where, 

1. I take profit at a certain level 50% of my position size automatically. Without me looking at the chart.  

2. If possible, immediately stop to break even. 

If this broker cannot do the first one, then I guess this broker is not for me. 

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11 hours ago, kwanchichi said:

How do I set up a trade where, 

1. I take profit at a certain level 50% of my position size automatically. Without me looking at the chart.  

2. If possible, immediately stop to break even. 

If this broker cannot do the first one, then I guess this broker is not for me. 

Hi @kwanchichi

Your query remains unclear. Can you please provide us with more information and context so we can help you resolve it?  Thanks, OfentseIG

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From a previous poster, 

GinoForex913

Greetings IG traders!

The main teacher I've learned my trade management strategy from (NNFX) suggests the following: take two "half" trades based on your desired risk, both with the same stop loss, one with the first take profit the value of the ATR away from price, the other trade with no set take profit. When the first TP is hit, you move your SL to break even and let your trade run until your system tells you the trend is finished.

I have tried to set up this management system in MT4 but both trades are automatically given the same TP, so letting the other trade run doesn't really seem like an option... 

I have learned you can close out half of your lots to take profit, but my issue with this is that you have to physically be on the charts to do this.

Does anyone know a method that US traders can use on IG's MT4 platform where you can effectively set two trades on a pair where one closes automatically at a set TP and the other can run? Or if this isn't an option are there alternative methods that can achieve the same result?

Thanks and happy trading!

 

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