Created
: 2022.08.23
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Close a position at market price
Close a position at market price
On MetaTrader4 (MT4) / MetaTrader5 (MT5), unlike limit orders, you can't specify a price when placing market orders because market orders use the current rate. The order gets executed as soon as it reaches the market, so the order will go through faster than a limit order.
Here we will look at how to close an open position on MT4/MT5.
Switch between MT4/MT5 tabs to check the steps for each.
Step 1
There are four ways to close a position at market price: the "X" button in the Terminal, the Terminal menu, the chart menu, or double-clicking on the chart. Each method allows you to either simply close a position or specify the details of the closing order, or both.
Close a position from the "X" button in the Terminal
Click the "Trade" tab of the Terminal and then click the "X" button to the right of the position you wish to close. The position will be closed immedeiately if the one-click trading is enabled.
Close a position from the menu in the Terminal
Click the "Trade" tab of the Terminal and double-click on the position you wish to close. You can set up the order details on the order window.
Or, right-click on the position you wish to close and select "Modify or Delete Order".
Close a position on the chart menu
Right-click on the dotted line on the chart which indicates a position and select "Close". The position will be closed immedeiately if the one-click trading is enabled.
Close a position by double-clicking on the chart
Double-click on the dotted line on the chart which indicates a position. You can set up the order details on the order window.
Related article: How to show position on chart
Step 2
On the order window, enter the volume or other values and click "Close by Market".
Close a position partially by modifying volume
The volume on the order window is the total volume of the selected position by default. To partially close a position, edit the volume.
Step 3
Once the order is executed, the order details will be shown in the "Account History" tab of the Terminal.
Step 1
There are four ways to close a position at market price: the "X" button in the Toolbox, the Toolbox menu, the chart menu, or double-clicking on the chart. Each method allows you to either simply close a position or specify the details of the closing order, or both.
Close a position from the "X" button in the Toolbox
Click the "Trade" tab of the Toolbox and then click the "X" button to the right of the position you wish to close. The position will be closed immedeiately if the one-click trading is enabled.
Or, right-click on the position you wish to close and select "Close".
Close a position 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 "Close".
Step 2
On the Position window, enter the volume or other values and click "Close by Market".
Step 3
Once the order is executed, the order details will be shown in the "History" tab of the Toolbox.
Last updated
: 2023.09.12
Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.
【Business information】
http://www.fintecs.co.jp/profile/
Supervisor
Akira Takagi
Systems engineer, MetaTrader administrator
After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.
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