Download your Metatrader Partial Closing EA
Partial closing is a technique that can turn some losing trades into profitable ones, reduce stress and increase win rate. This technique of taking an early profit reduces stress while a trader is in a trade. The remaining positions will be traded with less emotional stress such as fear and greed.
Partial close is a form of exit strategy where the forex trader plans to exit their position at various predefined take profit levels rather than close the entire position at once. It also means that traders need to define an initial take profit level for a third of the position to exit. In general, the partial close technique will require at least 2 predefined levels of taking profit.
It is important to note that the amount of contract size a trader is trading must be taken into account when employing the partial close technique. When partial close is used, the trade size should be large enough that the trader can take a third or half of the position out of the market when the first profit level is reached.
The psychology of partial closing a trade is to reduce stress by securing profits, which should help the trader stay in the trends longer with their remaining positions.
Programming this strategy into an Expert Advisor (EA) will greatly increase trade execution and achieve consistency in following a trading plan. The Expert Advisor will ensure that forex transactions are closely monitored for optimal closing and profit. It works by managing the stop loss level or take profit levels of the trader and thus securing profits for the trader.
This partial close Expert Advisor may already be commercially available in the market. If you don’t like the programming language, it is suggested that you can buy one on the market that has several exit strategies built into an expert advisor. The EA provides automation of trading management.
Using an expert advisor, give your set of instructions to partially close and the robot will run on its own and monitor the trade for the trader. This automates the entire process and further reduces trading stress, subjecting a trader to less emotional distress.
This is because the trader can outsource the work to the partial closing ea and give them more time to get a better perspective or analysis of the market instead of ‘marrying’ the trade.
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