PC Close hedged positions simultaneously
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When holding hedged positions in MetaTrader4 (MT4) / MetaTrader5 (MT5), you can close both positions simultaneously paying less spread than closing positions individually, which is referred to as "close by". Please note that this is a different feature from closing positions in bulk supported on MT5.
Here we will look at how to close hedged positions simultaneously.
Related article: Close positions / cancel pending orders in bulk
Switch between MT4/MT5 tabs to check the steps for each.
Step 1
You can close hedged positions simultaneously from the Terminal or chart.
Close hedged positions from the Terminal
Click the "Trade" tab of the Terminal and double-click on one of the hedged positions you wish to close.
Or, right-click on the position you wish to close and select "Modify or Delete Order".
Close hedged positions on the chart
Double-click on the dotted line on the chart which indicates a position.
Related article: How to show position on chart
Or, right-click on the dotted line on the chart which indicates a position and select "Modify".
Step 2
In the order window, click the "Type" field and select "Multiple Close By" or "Close by". They won't be shown if your broker is not supporting the "Close by" feature.
"Multiple Close By" vs "Close by"
"Multiple Close By" closes all the hedged positions of a currency pair. On the other hand, "Close by" is used when there are several buy or sell positions. When a position is selected, only the hedged portion will be closed, up to the size of the position. Suppose that you are holding three positions: 1 lot short, 1 lot long, and 1 lot long. If you select 1 lot long, 1 lot short and 1 lot long will be closed and another 1 lot long will remain open.
If you select "Multiple Close By"
After all the open positions for the selected symbol are shown, click "Multiple Close By". Only the hedged portions of the listed positions will be closed.
All hedged positions will be closed
Like "Close by", you can select some positions on the list, but closing only a portion of positions is impossible. For example, when you are holding three positions: 2 lot long, 0.5 lot short, and 1 lot short, the positions closed will be 1.5 lot short and 1.5 lot long, even if 0.5 lot short is selected.
If you select "Close by"
The list of the hedged positions of the selected position. Select the positions to close together and click "Close".
Only the hedged portion will be closed
Only the hedged portion of the selected positions will be closed, not the entire positions. If there is a difference in the size of the sell position and the buy position, the smaller position will be entirely closed while the reduced portion of the larger one will remain.
Step 3
Once the order is executed, the positions closed together can be viewed in the "Account History" tab of the Terminal.
Step 1
You can close hedged positions from the Toolbox or chart.
Close hedged positions from the Toolbox
Click the "Trade" tab of the Toolbox and double-click on one of the hedged positions you wish to close.
Or, right-click on the position you wish to close and select "Modify or Delete".
Close hedged positions on the chart
Double-click on the dotted line on the chart which indicates a position.
Related article: How to show position on chart
Or, right-click on the dotted line on the chart which indicates a position and select "Modify".
Step 2
In the position window, click the "Type" field and select "Close By". It won't be shown if your broker is not supporting the "Close By" feature.
Step 3
Select the position to close simultaneously.
Step 4
Click "Close".
Only the same volume will be closed
Only the hedged portion of the selected positions will be closed, not the entire positions. If there is a difference in the size of the sell position and the buy position, the smaller position will be entirely closed while the reduced portion of the larger one will remain.
Step 5
Once the order is executed, the positions closed together can be viewed in the "History" tab of the Toolbox.
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