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August 9, 2016

Question:How to close positions/orders on FXPro MT4 (MetaTrader4) account?

Answer:

To manually close an open position, you must first locate the order in the MT4 ‘Terminal’ window at the bottom of your MT4 screen.

metatrader4 terminal existing open positions

Right-click on the order you wish to close and select ‘Close Order’, or double-click on the order to bring up the ‘Order’ window and close it from there.

Alternatively, you can close a position by clicking the “X” symbol at the bottom right corner of your MT4 terminal.

If you have set valid stop-loss or take-profit levels, your order will be closed once the market price reaches either of the levels you have specified.

FxPro Official Website

Forex trades start from a loss

If you are looking at a price chart, and have decided to close a position, you may want to look at the “Profit” column in the Terminal window above, so you can see the current profit/loss numbers.

That is the end result including spread, commissions and other factors.

And due to the “Spread”(the difference between bid and ask prices), all your open positions will always have a loss at the start.

If the spread is wide, you may be closing positions with losses despite that you see positive market trend in the price chart.

“Closing” is unavailable on weekends

As you may have already known, you cannot place orders if the market itself is closed.

Thus you cannot place orders(both open and close) on weekends and some holidays which affect market hours.

Also you may see a price gap in each price chart after weekends as below.

MT4 Price Gap

Normally this happens on weekends where no liquidity is provided, and in case you have pending orders(stop loss or take profit) between the price gap, the order will be executed at the starting price at the market opening.

For more information or inquiries regarding to your accounts and orders, please contact support team from FxPro Official Website.

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