Blocking Trades

New comment
 
Hi, is there any way how to block user opening any positions? e.g. after some %DD
 
Notify App: Hi, is there any way how to block user opening any positions? e.g. after some %DD

Do you mean by means of an EA or Indicator or Script?

Then no! The user can do as he wants! It is their account, their terminal, their computer. They will have to learn self-control and trading discipline.

 
Fernando Carreiro #:

Do you mean by means of an EA or Indicator or Script?

Then no! The user can do as he wants! It is their account, their terminal, their computer. They will have to learn self-control and trading discipline.

Thank you for your response.

- Yes, by EA/Script!

The user can do as he wants, that means the user can run EA/Script DD% automated-controller on user's account, terminal, computer. :)

So there is no way how to do that.. it's little bit annoying.

 
Notify App #: Thank you for your response. - Yes, by EA/Script! The user can do as he wants, that means the user can run EA/Script DD% automated-controller on user's account, terminal, computer. :) So there is no way how to do that.. it's little bit annoying.

Why is it annoying? It is their money! It's their responsibility!

Would you like it if someone was controlling your money or your life or your decisions? I would not — would you?

 
Fernando Carreiro #:

Why is it annoying? It is their money! It's their responsibility!

Would you like it if someone was controlling your money or you life or your decisions? I would not — would you?

Yeah, I would. I trust my own algorithm runs on my account. Your don't trust your programs? :)
 
Notify App #: Yeah, I would. I trust my own algorithm runs on my account. Your don't trust your programs? :)

Yes YOU trust your algorithms, just as I trust MY algorithms.

But would you trust someone else's algorithms with your money? I would not! I ONLY trust my algorithms with MY money, no one else's.

Yet, you want to control someone else's freedom to do what they want with their money?

It is their money! If they want to waste it, it is their problem, not yours!

 
Fernando Carreiro #:

Yes YOU trust your algorithms, just as I trust MY algorithms.

But would you trust someone else's algorithms with your money? I would not! I ONLY trust my algorithms with MY money, no one else's.

Yet, you want to control someone else's freedom to do what they want with their money?

It is their money! If they want to waste it, it is their problem, not yours!

Maybe I should have used a different way of phrasing the question, I mentioned "users" in general but my intention was to ask about my own positions. Regarding this topic I thought I did not have to be that specific because there is no way I could block other users, this is not how it was supposed to be understood.
 
Notify App #: Maybe I should have used a different way of phrasing the question, I mentioned "users" in general but my intention was to ask about my own positions. Regarding this topic I thought I did not have to be that specific because there is no way I could block other users, this is not how it was supposed to be understood.

The way I originally understood your question, was that you were maybe planning on sharing or selling your EA to others and wanted a way to prevent users from mismanaging their capital or from interfering with your EA's strategy.

Now that I understand your question better, you are saying that your don't trust yourself to be disciplined enough with your trading rules and want to create a method where you could prevent impulsive behaviour, much like an AA sponsor would look out for the newcomer.

Then the answer is — no there is no such safeguard in MetaTrader.

However, some brokers do offer such functionality that can be set on their website. On one of my brokers they call it "Self exclusion" ...


 
Fernando Carreiro #:

The way I originally understood your question, was that you were maybe planning on sharing or selling your EA to others and wanted a way to prevent users from mismanaging their capital or from interfering with your EA's strategy.

Now that I understand your question better, you are saying that your don't trust yourself to be disciplined enough with your trading rules and want to create a method where you could prevent impulsive behaviour, much like an AA sponsor would look out for the newcomer.

Then the answer is — no there is no such safeguard in MetaTrader.

However, some brokers do offer such functionality that can be set on their website. On one of my brokers they call it "Self exclusion" ...


Sorry about that. Ok, thank you for your response!  :)

 
Notify App #: Sorry about that. Ok, thank you for your response!  :)
No worries! You are welcome!
New comment
Reason: