Button to take immediate partial close

Created at 22 Apr 2016, 18:52
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ST

Stokes Bay

Joined 18.04.2016

Button to take immediate partial close
22 Apr 2016, 18:52


Button to take immediate partial close

ctrader does allow a TP to be set prior to entry. Taking profits at multi-levels is not possible but has been requested elsewhere in this Ideas feature.

My request is that a button be available to immediately part-close a position. I want to open an order with multi-profit levels but as price action develops i am likely to change my exit targets.

To do this now i would need to create TP levels post the entry and then drag the lines on the chart to change. Price moves quickly and once i see a change in price action, dragging a line is too late to take advantage of the move. I am a short term trader!

Having a button next to the close position button which i could set to either a number or % of my current position would allow me to react immediately to a change in price.

I only need one button as each press would close say 25% of the position.

With netting accounts you could just open a new contra-order (hitting buy/sell buttons) to do the above but with hedging accounts you would incur extra commission to do this since you cannot cancel new (short) hedge positions against existing (long) positions.


cTrader
@Stokes Bay