Learn to view and close positions — discover the power of buy/sell limits, stops and position closure in financial markets.
Closing positions using market orders in MT4
- Select the Trade tab in the Terminal section.
- Right-click on the position you wish to close.
- Click the ‘Close Order’ option in the pop-up menu.
- If One Click Trading has been enabled, then a one-off disclaimer pop-up comes up for the user to accept the terms and conditions.
- Check the box on the disclaimer pop-up and press OK for the order to be submitted. Please note that this disclaimer appears only once, the first time One Click Trading is enabled, and not subsequently.
- If One Click Trading is not enabled, then a pop-up of the position trade ticket appears after Step 3.
- Click on the Close button in the pop-up.
※ You can also double-click on the position, and you will be taken to the Close Order screen.
Limit/Stop-loss Order
Close your position using a limit or stop-loss order
- Select the Trade tab in the Terminal section.
- Right-click on the position you wish to close.
- Click the ‘Modify or 'Delete Order’ option from the pop-up menu, and the order placement screen will appear.
- Confirm that the order Type is set to ‘Modify Order’.
- Enter the Stop-Loss or Take-Profit levels.
- Click ‘Modify’ to place the order.
※ You can also double-click on the position, and you will be taken to the Close Order screen.
Trailing Stop Order
Set a trailing (dynamic) stop-loss to close your position based on market fluctuations. This order type will have the Stop Loss (SL) trail behind the current price of an order by a set number of points.
- Select the Trade tab in the Terminal section.
- Right-click on the position on which you want to set a trailing stop.
- Click the ‘Trailing Stop’ option from the pop-up menu.
- Choose the desired value from the trailing stop loss options.
- If the setup is completed, a ‘T’ symbol will be displayed next to the order number in the Terminal window.
※ To remove the trailing stop, select ‘None’ on the trailing stop pop-up menu from step 3.
This article and its contents are intended for educational purposes only and should not be considered trading advice.
