How would we put in an order to close out 50% of our position with our broker?
The method to close half the position when first profit
target is reached will depend on your broker's platform. Your broker will be best placed to advise on
this.
Ideally, you will place the opening order
conditional on the stock price (or for an option the underlying stock)
doing what you need it to do, and attach a 'Bracket Order' detailing
your Initial Protective stop and your P1.
When P1 is touched, traded through, or gapped beyond, that
position part of your position will close for P1 profit, and all that remains
is to manage the second half of the position using Guy's dynamic trailing stop.
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