Button to take immediate partial close
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.