Partial Close

A partial close lets a trader close only a portion of an open position's size, locking in some profit (or cutting some risk) while leaving the remainder running. It's commonly used to bank gains at a first target while letting the rest of the position ride toward a further take-profit level. After a partial close, many traders also move the stop-loss on the remaining portion to break-even, so the trade can no longer turn into a net loss even if the market reverses.