[Fibonacci Dedicated Tool Guide] Episode 5: Screen during Position Holding (Position Management Panel)

Continuation from last time: Post-order screen display

Last time, we looked at pressing the order button in market, pending, and normal modes.

This time is the next step. After the order goes through and a position is opened, what happens on the screen? Many of you may be curious. From here on, this is a management topic, not entry.

All features are here ⇒FibonacciTradeSystem

When you hold a position, a mini panel appears

When you hold a position, a small panel appears on the chart. This is the “mini panel.”

Initially, it is displayed in a collapsed state. What you can see is only two lines: the position number, direction, lot size, and profit/loss (pips). The profit/loss is shown in green for unrealized profit, red for unrealized loss, and white for almost zero, so you should be able to gauge the situation at a glance.

▼ Press to reveal the settlement button

Press the ▼ at the bottom right of the panel to expand it.

When expanded, operation buttons line up. One is the close button. There are buttons to close all positions and to close only half of the held positions.

Another is the trailing stop and breakeven movement buttons. These are features used to extend profits, so we will cover them in detail next time. For now, we will focus on settlement.

SL/TP can be dragged while holding a position, but there are directional constraints

Even after holding a position, the SL/TP badges can be moved by dragging. However, their handling differs somewhat from the planning stage before placing an order.

TP can be moved freely in any direction. But SL has constraints. It can only be moved in a direction that increases unrealized profit and cannot be moved to widen losses.

This feature prevents deviating from the original trading plan and moving SL in an unfavorable direction to avoid losses due to convenient interpretations.

For example, for a BUY position, you can move the SL above the current position, but not below it. If you try to move it forcibly, a warning popup will appear and the move will be rejected.

One caveat.
For moving held positions, be sure to OFF the MT5 standard feature “Enable dragging to move positions.”

You can settle all or only half

There are two types of settlement buttons.

One is to settle all. Pressing the button settles the entire position immediately.

The other is half settlement. You can settle only half the lot size and keep the remainder. In this case, the SL/TP of the remaining position remains at their pre-set values. So you can secure half of the profits while letting the rest run.

▼ After half settlement

Position management panel and the aim of its features

The SL anti-adverse-direction function was added because I have experienced emotional trading where SL was widened to suit me, leading to increased losses. It exists to help trades progress according to the original plan and to prevent human emotional trading.

The same restriction is not applied to TP. You can move it flexibly when you want to revise your profit target. However, beware of chicken-taking-profits.

For half settlement, I expect you to secure profits for half and let the rest grow according to the original plan. Since profits are reliably secured, it makes it easier to hold positions stubbornly to ride trends in favorable markets.

Actual screens and details of other features are in the product page.

→Fibonacci Trade System (Product Page)

↑ This is the usage video.

All features of FTS

From entry to settlement, a summary of the features supported by FTS.

Next time

In the sixth installment, I will write about features that extend profits and return to breakeven.

The trail and automatic breakeven buttons that were lined up on the expansion panel. This time we focused on settlement, but next time we will take a closer look at these features.