published on in New

How to take partial profit on MT4 Mobile?

How to Take Partial Profit on MT4 Mobile?

MT4 Mobile is a popular trading platform that allows traders to execute trades and monitor their portfolios conveniently from their mobile devices. One of the essential features of MT4 Mobile is the ability to take partial profits on your trades. It enables traders to secure a portion of their gains while still allowing the remaining portion to run in pursuit of more significant profits. In this article, we will guide you through the process of taking partial profit on MT4 Mobile, as well as address some frequently asked questions related to this topic.

To take a partial profit on MT4 Mobile, follow these step-by-step instructions:

Step 1: Open the trade
Open the MT4 Mobile app and navigate to the “Trade” tab. Locate the trade you wish to take partial profit on from the list of open positions.

Step 2: Modify the trade
Tap on the trade you want to modify, and a popup window will appear. From this window, choose the “Modify Order” option.

Step 3: Adjust the volume
In the modification window, you will see various adjustable parameters such as stop loss, take profit, and volume. To take partial profit, focus on the “Volume” field. Enter the desired volume you want to close or secure a profit on, leaving the remaining volume to run.

Step 4: Confirm the modification
Double-check the modification details, ensuring that the changes made align with your desired partial profit strategy. Once satisfied, tap on the “Modify” button to execute the changes.

Congratulations! You have successfully taken partial profit on MT4 Mobile. The specified volume has been closed, securing a portion of your profit, while the remaining volume will continue to be exposed to market movements.

Now let’s answer some frequently asked questions related to taking partial profit on MT4 Mobile:

Table of Contents

FAQ 1: Can I take partial profit on MT4 Mobile for both market orders and pending orders?

Yes, you can take partial profit on both market and pending orders using the same modification process outlined above.

FAQ 2: Will my stop loss or take profit levels be adjusted after taking partial profit?

No, your stop loss and take profit levels will remain unaffected by taking partial profit. They will remain at their original levels unless manually modified.

FAQ 3: Can I adjust the partial profit percentage?

No, MT4 Mobile does not provide an option to adjust partial profit based on a percentage. It allows you to adjust the volume (lot size) of the trade only.

FAQ 4: Does taking partial profit incur additional fees or commissions?

The fees or commissions associated with partial profit-taking may vary depending on your broker. It is best to consult with your broker or review their fee structure before executing partial profit trades.

FAQ 5: Can I take multiple partial profits on a single trade?

Yes, you can take multiple partial profits on a single trade by repeating the modification process and closing different volumes until your desired profit is secured.

FAQ 6: Is there a minimum volume required to take partial profit?

The minimum volume required to take partial profit may vary depending on your broker’s trading conditions. Some brokers may have minimum size restrictions, so it’s essential to check with your broker for specific details.

FAQ 7: Can I reverse or reopen the portion I closed as a partial profit?

Yes, if you close a portion of the trade as a partial profit, you can reopen or reverse that portion by executing a new trade in the opposite direction.

FAQ 8: Will taking partial profit affect my overall position size?

Yes, taking partial profit will reduce your overall position size in the trade. The closed volume that became a partial profit will no longer be exposed to market movements.

FAQ 9: Is partial profit-taking available for all tradable instruments on MT4 Mobile?

Yes, you can apply partial profit-taking to all tradable instruments offered by your broker on the MT4 Mobile platform.

FAQ 10: Can I set different take profit levels for each portion of partial profit?

No, MT4 Mobile does not support setting different take profit levels for each portion of partial profit. It allows you to adjust the volume only.

FAQ 11: Will taking partial profit affect my trading strategy?

Taking partial profit can be a valuable tool in managing risk and securing gains. However, it is essential to consider how it aligns with your overall trading strategy and whether it supports your long-term goals.

FAQ 12: Can I monitor my partial profit trades on MT4 Mobile?

Yes, you can continue to monitor your partial profit trades on MT4 Mobile by accessing the “Trade” tab and reviewing the relevant positions. Any further modifications or closures can be made following the same process.

ncG1vNJzZmimkaLAsHnGnqVnm59kr627xmifqK9dqbxuwMCknGaokafBqq3LZqerp5aewW67zWakrWxdoryjtcueZg%3D%3D