I just have got two different answers from two broker about partial order closing.
One said it is not possible to close 70% of the lots at e.g. target and the residual 30% by a trailed stop,
the other one of course you can but we will close 100% and open a new order with 25% of the initial lotsize and you'll have:
~ "no financial advantages or disadvantages in relation to commissions, as well as in relation to course development" (my translation).
Can any body confirm: "no financial advantages..."?
I asked whether the following calculation is wrong and why:
- Buy 1 Lot, Sell
- Commision: 10,-/Lot,
- Spread 20
- Buy 1: 100 (ask), 80 (bid)
- Exit 1: 150 (ask), 130 (bid)
- Exit 2: 200 (ask), 180 (bid)
Case-1, 2 independent orders or open 1-Lot, close 0.7 lot @ 130 finally exit at 180:
- Order-1: (130-100 - 10)*0.7 = +14.-
- Order-2: (180-100 - 10)*0.3 = +21,-
Total net-profit: +35,- paid commission: 10,-
- Order-1: (130-100 - 10)*1.0 = +20.-
- Order-2: (180-150 - 10)*0.3 = + 6,-
Total net-profit: +26,- paid commission: 13,-
Is there a mistake in my calculation of case 2? If not partial closing if executed this was makes no sense - correct?
You can't automatically close 70% using a TP. A) open two orders (not good with commission dealer) or B) do a partial close at the first step no extra spread/commission.
Thanks, but I practically don't understand your answer.
"A) open two orders (not good with commission dealer)" - How?
For 2 orders (0.7 and 0.3 lot) I would pay a commission (=10.- per 1.0 lot) of 7.- and 3.- so together 10.-
For 1 order with lot size of 1.0 I would pay as well 10,-. Where am I mistaken?
"B) do a partial close at the first step no extra spread/commission." - Again, how?
Both broker wrote they can't/won't partially close an order! One broker offers a 'workaround' by closing the whole order and opening a new one, so how is your way of partial closing? Do you get a new ticket number - to me definite sign that the old order has been closed completely and a new order has been opened.
I know your code but my question wasn't about how to code it is but - what to code. (Btw are you still convinced by this? I can't see any advantage of your various MMODE_s).
Hi - again,
this is what I just got from one broker (JFD) Buy:
This looks very good :)
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