Partial Close EA

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ForexTrailer.com
Securing Forex Profits with Partial Close EA
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Forex traders make use of partial close ea in the
scaling out of their trade positions based on
profit levels that had been fixed prior to the
start of trading.
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This is how Partial Close EA work
Once the market trading price gets to a
stipulated take profit level, the trader would
collect his initial profit by exiting a
proportion of the total contract. The trader can
then proceed to move the stop loss to the entry
price in order to ensure that no matter what
happens to the market trend, a loss will not be
incurred.
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Partial Close EA

• Very easy to manage since they are only
  concerned with taking out part of a contract
  while letting the remaining positions to ride the
  trend till it dies out.
• Ensures that the worst case scenario that could
  result is a no win and no loss situation whenever
  there is trend exhaustion and the stop loss level
  is hit at the breakeven level. This is termed Pip
  protection Mechanism.

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Partial Close EA

• Particularly good for day trading or short term
  trading. It is very easy to take up several
  contracts in such a setting part of which could
  be taken off the market once profit has been
  realized as determined by the short term market
  behaviour and market structure.

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Longer term market behaviour also makes for a
balance. A trader can trade on the short term and
also benefit from longer term trend riding as
well as its accompanying profit. But there is
also the danger of a trader exposing himself to
too much risk by trading several contracts.
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Caution is advised in terms of practicing money
management by not risking more than 2 per trade
and not more than 5 per day or month.
The efforts that professional traders put in the
management of their equity is what keeps them
going on in Forex trading without the management
of equity, most of them would have retired from
the market long time ago.
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More advanced exit strategies will have partial
close method incorporates with trailing stop
strategies for the management of trades, and it
also spells out the price level at which portions
of a contract can be exited. In short, partial
close strategies serve as guide to a trader on
how best to approach his trade for him to be
successful.
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It would be so much easier to have more winning
trades, and to make more profit when the partial
close method is used in exiting a trade. Partial
close ea are also capable of helping traders
leverage from the behaviour of the market in the
short term and the longer term. Prior
specification of trade exit strategies helps to
eliminate emotional indecisions that could ruin a
trade. The proper use of the partial close ea
helps a trader in his quest to be successful in
trading.
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