I have just decided to go with a hosted server. Everything has been set up, I'm just yet to close my local MT4 client and login to the server's!
I currently have a few strategies running, and there are a minimum of 3 open positions at any given time.
My question is, will the servers MT4 platform with the EA's I've migrated across be aware of the current open trades and thus close them out at the respective time or do I need to close out all open positions prior to the migration?
Any insight would be much appreciated.
Any MetaTrader terminal, be it on the desktop or a mobile device, irrespective of how many installations you have will always be aware of your open orders. However, it is the EA's that you have to be careful with.
A badly written EA, one that does not have built in recovery procedures, can easily mess things up, either by not managing existing orders or by opening new duplicate orders, when the EA is stopped and restarted again.
So the questions are:
If you don't know (or if they don't have recovery), then you will have to manually choose the best timing to close all trades before restarting the EAs again at their new setup. Closing trades just before the week-end and starting the EA up again on the week-beginning might be a good choice.
Irrespective of these points, it is always best to have recovery procedures in the EA code, for when disaster hits, such as when MetaTrader or the PC crashes or when you loose connectivity!
Do some testing with a demo account and you will know how your EAs handle this.
To add comments, please log in or register