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How do we put stop loss and take profit in multiple position sizes to secure profits and manage losses
Please give some real examples of the positions with stop loss and limit
over 2 years ago
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I think this question has been answered before...Let me search up the answer for you. Just click on the links below. It talks about closing multiple positions in metatrader but you can apply the method on any trading platform.
over 2 years ago
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For instance, you have a short EURUSD trade at 1.4800 and you want to close half your position at 1.4750 and the rest at 1.4700. You traded 20,000 units and you want to set your stop at 1.4850. You can do the following:
Set a long EURUSD order at 1.4750 for 10,000 units. This would work as your first profit target.
Set a long EURUSD order at 1.4700 for 10,000 units. This would close the rest of your position at the 2nd profit target.
Set a long EURUSD order at 1.4850 for 20,000 units. This would be your stop loss. You can make use of an OCO (order cancels other) feature so that your long orders at your profit targets would get canceled if you get stopped out and vice versa.
over 2 years ago
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If for example you bought 100,000 of EURUSD at 1.5000 and want to take profits at 1.6 and 1.7, then you can also do something like this:
First set the stop loss of the entire 100,000 units to 1.4000 by either clicking the open position and inputting 1.4 as a stop loss or entering an opposite order (short). To set your profit targets, open a buy limit order with 50,000 units at 1.6. Open another short limit position with 50,000 units at 1.7. Once the first target gets triggered, move your stop loss to 1.5000 by either clicking the open position and inputting "1.5" as a stop loss or entering a short limit position with the same amount and value.
You can do the opposite for short positions.
over 2 years ago
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