Ok, here is a question I have. I am wondering how I can set more than one take profit level for an open position. I am trading with Oanda right now and am a little confused. I open a position. I can put in a stop loss and a take profit. Now if I make a trade with 3,000 units, and I want to take off 1,000 units at a certain price and let the other 2,000 go, how do I do that? It seems like a person can only set one take profit and when it gets hit, the whole position in closed. Now, if I have a postion open with 3,000 units, and I have no take profit and I just put in a couple limit orders say one for 1,000 and the second for another 1,000 and the third for the last 1,000. If I do that, am I not going to get charged the spread for each of those? I am a bit confused. If that is the case that I will be charged each time, taking 3 differant profit levels, I will be charged the spread 4 times, one at the time I open the position and 3 more times at where I want to take my profits. Any comments are much appreciated.
JOHN 3:16