Closing a Position

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Welcome to currency trading with Profiforex!
This video explores the ways of closing open positions in the MetaTrader 4 terminal.
The buying or selling of an instrument opens a trade position. Then, in order to gain profit of the bid-and-ask price differences, one has to close the position

The latter trade operation is reverse towards to former one.For example, if the former operation consisted of buying one lot of some instrument, then one lot of the same instrument must be sold in order to close the position.

There are different ways of closing positions in the trading terminal:closing of a single position,closing of a position by an opposite position,and multiple close by several positions.
A single open trade position will be closed automatically if prices are equal to the values of Stop Loss or Take Profit.Long positions are closed at a "Bid" price, short positions are closed at an "Ask" price.

To close a position manually, you must execute the opened position context menu command of the "Terminal — Trade" window or double-click with the left mouse button on this position.

 

The MetaTrader 4 trading terminal lets you partially close positions.
To do this, you must specify the amount of lots less than that given for the opened position in the "Volume" field before pressing the "Close" button.

In the client terminal you can also close opposite positions.
The position opposite the given one is a reverse position for the same financial instrument.
If one or more opposite positions are present among the open positions, you can close the selected position together with the opposite one. 
To do this, first open the "Order" window as explained previously. Then, select "Close by" in the "Type" field.

After that, the list of all opposite positions will appear in the lower part of the window. Select an opposite position in this list, and then press the "Close... " button.

This terminal function lets you close two positions at the same time. Opposite positions can differ by volume.
In this case, after closing opposite positions the larger position remains open with the volume (amount of lots) equal to the difference between the lots of the two closed positions.Also, in order to simultaneously close several opposite positions you need to open the "Order" window.
Then the "Multiple close by" must be selected in the "Type" window.

A list of all opposite positions will appear in the lower part of the window, and the "Multiple close by... " button will be active.

Positions will be closed in pairs, according to the open time, and they will be closed according to the algorithm of closing two opposite positions.
If the difference between the sums of volumes is not zero, a new position will be opened as a result of the operation, the volume being equal to this difference.
The newly opened position will participate in the multiple close process, but according to its open time and so on until all positions are closed or the last resulting position is opened.
Once the opposite positions are closed, the corresponding records will be made in the "Terminal — Account History" window. 
Overhead information about the closing of opposite positions will be entered in the "Comment" field.