How to Take Partials on MT4 iPhone

Imagine this: You’ve entered a trade on your iPhone using MT4, and it's going well. The market’s moving in your favor, and you’re watching the profits rise. But here comes the big question—should you close the whole trade or take a partial profit? If you close the whole trade, you might miss out on further gains. If you don't take any profits, the market could turn against you, and you might regret not having locked in some profit. This is where taking partials comes in.

The Importance of Taking Partials

Partial profits provide a balance. By closing part of your position, you lock in some of the gains, while allowing the rest of the trade to continue running. It’s like having your cake and eating it too. You reduce the risk without giving up entirely on potential future profit.

Here’s how you can take partial profits on MT4 using an iPhone.

1. Open Your Trade: First, ensure you have an open position that you wish to partially close.
2. Access Trade Tab: Navigate to the 'Trade' tab, located at the bottom of your MT4 app.
3. Select Your Trade: Tap and hold the open trade you want to modify.
4. Choose "Modify" or "Close": A menu will appear. Select 'Close'.
5. Adjust Trade Volume: Here's where the magic happens. On the next screen, you’ll see the option to close the trade. But before you tap "Close", look at the volume section. By default, it will show the full trade size.
6. Reduce the Volume: Edit the volume to the size you wish to close. For example, if you have 1.00 lot open and you want to close half of it, reduce the volume to 0.50 lots.
7. Confirm Partial Closure: Once you’ve adjusted the volume, hit 'Close'. This will close the selected portion of your trade and leave the remainder open.

Benefits of Taking Partials

• Lock in Profits: Even if the market reverses, you’ve secured some gains.
• Reduce Risk Exposure: By closing part of the trade, you lessen your exposure to market volatility.
• Psychological Relief: It can be a psychological relief to take partials, knowing that you’ve already made money on the trade. This can help prevent emotional decision-making later.

Example Scenario:

Let’s say you open a long trade on EUR/USD with a volume of 1.00 lot. The market moves 50 pips in your favor, and you’re seeing a good profit. Instead of closing the entire trade, you decide to close half of it (0.50 lots). You lock in half of your profits and allow the remaining 0.50 lots to continue running, hoping the market will move further in your favor. If the price retraces, you’ve still secured partial profits. If it continues upward, you’ll benefit from the remaining position.

When Should You Take Partials?

1. Major Resistance or Support Levels: If the price is nearing a significant resistance or support level, it might be a good idea to take partial profits.
2. Big News Events: Before major economic announcements (like non-farm payrolls or interest rate decisions), markets can be volatile. Taking partials can help you avoid sudden market swings.
3. Hitting a Predefined Target: Many traders set predefined price targets. Once the price reaches that level, they take partial profits to secure some gains.

Balancing Risk and Reward

Taking partials is an excellent way to balance risk and reward. You maintain the opportunity to gain more from the trade while simultaneously protecting yourself from potential losses. This is especially important in fast-moving markets where conditions can change quickly.

Pro Tip: Have a plan before you enter the trade. Determine in advance at what points you will take partial profits and how much of the position you will close at each level. This removes the emotion from the process and helps you stick to a trading strategy.

Step-by-Step Guide: Taking Partials on MT4 iPhone

Here’s a quick recap of the steps:

Step	Action
1	Open the MT4 app on your iPhone.
2	Go to the 'Trade' tab.
3	Tap and hold the trade you want to take partial profits on.
4	Select 'Close'.
5	Adjust the volume to the amount you want to close.
6	Confirm by tapping 'Close' to partially close the trade.

Advanced Considerations

• Trailing Stops: If you’re taking partial profits, it’s a good idea to move your stop-loss to breakeven (or beyond) for the remaining portion of the trade. This way, if the market reverses, you won’t lose any of the profits you’ve already made.
• Scaling In and Out: Some traders like to scale into and out of trades. This means they don’t just take partials at the end of the trade; they also enter positions gradually. This helps them get better average prices on their trades and reduce risk by not going all-in at once.

Common Mistakes to Avoid

1. Taking Partials Too Soon: Be patient. Don’t rush to take partial profits just because the trade is slightly in your favor. Let the trade develop, especially if you have a well-thought-out trading plan.
2. Taking Too Large a Partial: If you take too much of the position off the table, you might not benefit from the full move. Decide beforehand how much of the trade you’ll close at each level.
3. Ignoring Fees: Be aware of the spreads and commissions involved in your trades. Closing portions of a trade means you’ll incur additional fees, so make sure the profits justify the costs.

Conclusion

Taking partial profits is a strategy that allows you to lock in gains while leaving room for more upside potential. It’s a great way to balance risk and reward and avoid the emotional stress of all-or-nothing decisions. With a plan in place and a clear understanding of how to use MT4 on your iPhone, you can implement this strategy effectively and improve your overall trading results.

Start practicing taking partials on your demo account to get comfortable with the process. Once you’re confident, integrate it into your live trading plan. Happy trading!