It is awkward and time consuming to close a trade that has been triggered by the autoclick. Manually, you have to click on the order in the open orders box, bring up a close box, and hover your mouse over the button until you are ready to close. As spike traders we need to at least be set up for this as fast as possible. We will use an EA and the "Expert Advisor" button at the top of your MT4 platform to do this.
The EA is called "Close or Delete All". You will need to attach it to the chart of the currency you plan to trade in advance of the release. Make sure you don't have any tech trades going on the same pair when you do it. Make sure to check "allow live trading" and verify that you get the smiley face by turning the "Expert Advisor" button on, but then make sure you turn it OFF.
When the autoclick fires an order, all you have to do is turn on the "Expert Advisor" button at the top of you dealing station and the next tic will take you out. Don't turn it on until you are sure you want to close the order. Remember it will be treated like a market order and will be subject to slippage.
UPDATE - October 6, 2009
If you are using the original MT4 "Client" ( the one that has the cancellation timeout feature), we have found that the programming is interfering with the EAs ability to close. The client is designed to cancel all subsequent orders after it is initially triggered. That is why you have to bring up a new "Client" after it has been fired. The work around was discovered by Forexxer in our trade room and is as follows:
1) Load the EA and enable the Live Trading parameter. Don't worry about the green button at the top.
2) Once the Auto Click brings you into a trade: All you have to do is just switch the number of minutes. Lets say if you were on a 5 minute chart,,,,,,, just click on any other time frame. That is it. In a nut shell this is one click process. I have tested it on 4 different Demo accounts and 2 live accounts,,,,,,,all with 100% accuracy. Once again,,,don't need to worry about the Green button at the top of the platform.
I have personally confirmed on two different live trades that this works.
You can get it here: