When you place an order, it will usually proceed to set a stop loss and take profit, when the price drops there it will automatically close the order for you. However, in many cases, when you place an order, the price runs for a certain period and you want to close the order because you think that the price has not gone in the right direction, you are likely to reverse, or think that if you add more you lose more money.
This guide shows you how to close an order on the MT4 mobile app.
How to close orders on MT4 mobile
Follow the instructions below to close an open order on your trading account using the MT4 mobile application:
- Log in to your trading account using your MT4 mobile app.
- Go to the “Trade” tab, tap on the order you want to close in 2 seconds and select “Close”
- Click “Close with profit/loss…” to complete.
Right after that, go to the “History” tab at the bottom and you will find the details about the recently closed order.
How to close a half position on MT4 mobile
One of the keys to successful trading is risk management. In many cases, splitting trades into two (or more) parts can help you protect your investment while ensuring a small but consistent profit.
The partial close feature offered on the MT4 mobile app allows you to close a subset of the order or withdraw a portion of the capital you have previously invested in an asset by reducing the trading volume to the desired amount in the “Order” window.
The specific steps are as follows:
- Go to the “Trade” tab, long click on your trade and select “Close”.
- The order closing window will appear. In the “Volume” field, enter the amount of trading volume you want to close. Remember that the selected number displays the amount that will be closed, not what remains.
- Then tap on the “Close with profit/loss” button to confirm.
The partial close function on the MT4 mobile app is similar to closing an order, only at the stage of choosing the volume.
How do I close all trades on MT4 mobile?
MT4 does not offer the one-click-close all trades feature on your phone’s MT4 app. Alternatively, you can run it on the MT4 trading platform.
If you do not want to close the order manually, you can easily close orders automatically using Stoploss and Take Profit and setting these values as desired; or by applying the “Scale-out trading” strategy.