MetaTrader 5 Trading System - page 2
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Lenar,
Could you please clarify the following?
I wonder how orders will be managed by MT5's trading system:
Suppose my EA will send 3 Buystop orders (at different price level), each order has its own StopLoss and Takeprofit, and unique magicNumber, if all of these 3 orders be activated, then, according to MT5, these 3 trades will merge to form 1 position, now, I want to know, what's the StopLoss and Takeprofit of the present POSITION? which MagicNumder or no such thing at all? Furthermore, if the EA then sends out a Sellstop oder, same thing, with its own StopLoss and Takeprofit, and unique magicNumber, what's the net resulting position's StopLoss and Takeprofit?
What's the advantage of adopting the NEW MT5 trading system instead of the old MT4 system? Is it really necessary to discard the old one (I mean only the order vs position stuff)?
Thanks.
MontS,
It's easy!!!
I think you understood how trades will be managed. OK
At MT4 the TP close the trade. At MT5 if you have 3 orders (BUY) with different TP you can send a SellLimit to each order.
This way each order will be "closed" at a different price.
MontS,
It's easy!!!
I think you understood how trades will be managed. OK
At MT4 the TP close the trade. At MT5 if you have 3 orders (BUY) with different TP you can send a SellLimit to each order.
This way each order will be "closed" at a different price.
That's by no means EASY. If you have several Buystop/Sellstop orders and you put, as you said, several Limit orders for TP and SL, try yourself, what will happen?! you will messy up with all these orders, eventually you may be surprised which order will be activated! For whatever reason I'll NOT do like that!
It is important to start searching alternative "hedging enabled" forex trading platforms. I think that after a while the MT4 will be discontinued. Does anybody know some alternative hedging enabled platforms ? I would like to start testing these.
I would suggest Don't be foolished by HEDGING, although it's a useful strategy, it's not really essential for trading. If, MT5 will have this feature, it's ideal, if not, it's still OK, what's
really annoying is the automatic merge of orders, that will be a big headache.
I want to see Elliott Wave tool in MT5,,,,,,,,
Better than Track 'n Trade ElliotTWave trading platform hass./..
I think that that will be a great tool ever mts had....
cyaa
WHY HEDGING IS VITAL FOR RISKY POSITISONS?
Trading sample below shows how can a ruined portfoilo results in 262$ profit. It covers my trading operations on EURUSD in 16.09.2009.
The green lines show where i go long, and red lines where i go short. As seen in horizontal trends my ea go short and long sequentally and consistently. Before the uptrend begins i was almost down for 150$ and no way to exit. When price reached 1,4702 and retraced to 1,46967, it was time to close out longs, and as downtrend was confirmed by ea it continued to drop until 1,46694 where i turned into fully cash. In that operation i got 262$. If hedging was disabled probably i would write a 150$ loss.
And i want MetaEditor 5 to have code refactoring (перестройка программного кода) feature. I think it's veru usefullll,, hope mt5 will have that feature// cyaaa
I would suggest Don't be foolished by HEDGING, although it's a useful strategy, it's not really essential for trading. If, MT5 will have this feature, it's ideal, if not, it's still OK, what's
really annoying is the automatic merge of orders, that will be a big headache.
I make MOST of my money using Hedging strategy.....NOT having it in the US was a headache as I was forced to close my US brokered accounts......(Except for FXDD ... they are not NFA member)...and go off shore