Interview with Stanislav Starikov: Features of New MQL5 - page 16

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Bogdan Caramalac
762
Bogdan Caramalac  
You're right, no numbers on open orders. But the event mechanism is still helpful in tracking...
JC
1590
JC  
TheEconomist:

However, in the position flow system also there are no pending orders [...]

Sorry, you've completely lost me. In what sense are there no pending orders in such a model? The screenshot in 'MetaTrader 5 Client Terminal' explicitly shows pending orders (and also shows the ability to have a pending order in an opposite direction to an open position).


There is no need to even compare to NinjaTrader. NinjaTrader is a speedy futures platform [...]

My comparison with NinjaTrader is solely down to the fact that it operates the sort of order-based model which MT5 looks to be moving towards. The orders/positions in the screenshot in 'MetaTrader 5 Client Terminal' are identical in priciple to how Ninja would report such trading activity and, like any such order-based system, it also imposes the rule that "Any financial security can have only one position".

Bogdan Caramalac
762
Bogdan Caramalac  
jjc:

Sorry, you've completely lost me. In what sense are there no pending orders in such a model? 

In the sense that pending orders exist only on the client side. Position is not altered until they begin to be filled (however, each pending order reduces the margin).

flair flair
34
flair flair  

it is quite convenient to have the feature to close all "BUY" and close all "SELL" in the terminal.


will the MT5 come with these 'buttons' or menu click?


will the MT5 mobile version free to use?

will the MT5 mobile allow the use of EA?


lookin' fwd to seeing the mt5.

Michal Rutka
178
Michal Rutka  
TheEconomist:

In the sense that pending orders exist only on the client side. Position is not altered until they begin to be filled (however, each pending order reduces the margin).

Why a pending order should reduce the margin? It does not in MT4.

tony
5
tony  

Hi, MQL4 has FTP and File handling in,

Has the question of TCP / HTTP / HTTPS communication been added in this new version?

What about better communication with external applications?

Thanks

Tony

Bogdan Caramalac
762
Bogdan Caramalac  
Michal:

Why a pending order should reduce the margin? It does not in MT4.

That was exactly what I meant by "Position is not altered until they begin to be filled". 

After all, in a few weeks we'll see how it works. But I think jjc's right, and there will be no mixed orders/position model. Just position. Willl make hedging ... well, not harder, (because of event processing), just different...

Richard Grosh
28
Richard Grosh  
TheEconomist wrote >>

That was exactly what I meant by "Position is not altered until they begin to be filled".

After all, in a few weeks we'll see how it works. But I think jjc's right, and there will be no mixed orders/position model. Just position. Willl make hedging ... well, not harder, (because of event processing), just different...

I don't see why you keep saying hedging will just be 'different' with only one position allowed. To hedge you NEED to have multible open Buy and Sell orders that can be managed seperately.

Will an MT5 position be able to be made up of multible orders at different prices? Or does a position pertain to only one price? If I have 1 Buy lot and the price drops 30 pips and I open 1 Sell lot, what happens to those 30 losing pips? Is that a permanent loss? Is there still a reference to the price of the first Buy order, or is that Buy order closed?

Bottom line. If the -30 pips is a permanent loss then hedging is not possible.

In another post you said, "What still puzzles me is why you want position hedging, with simultaneous orders opened...." .

We have explained why, but if you have to ask that question then it's pretty clear that you did not know what hedging is or how or why it is done.

If you are not experienced with hedging and do not use hedging techniques on a day to day basis then how can you be so certain that it will be able to be done in MT5?

Every post I've read from people that actually do use hedging are very upset because they can't see how they could possibly do it with the new MT5 system.

I have not read even one post from anyone that hedges that has said that they see hedging as being possible in MT5. Even the developers of one of the most popular retail EA's that uses hedging- ForexFunnel has told us they have removed all hedging from ForexFunnel because of the NFA ruling and the changes coming in MT5. They have already released a new version without hedging for the latest MT4. So we will wait and see, but if major developers are already removing hedging from their EA's, and are not having hedging in future MT5 EA's, then why would they go to all that trouble of re-coding and removing the hedging if they did not *have* to.

Richard Grosh
28
Richard Grosh  
TheEconomist wrote >>

That was exactly what I meant by "Position is not altered until they begin to be filled".

After all, in a few weeks we'll see how it works. But I think jjc's right, and there will be no mixed orders/position model. Just position. Willl make hedging ... well, not harder, (because of event processing), just different...

Ok, I searched for an official comment from MetaQuotes on hedging in MT5. Found it on this forex-tst.com forum thread - which I see you have posted on, so you should have seen the answer 3 weeks ago.

Post #17


Question from aurigafx:

Hey Lenar,
what about may concern about hedging?
Have I got it right?
No hedging possible any more?

Thanks

Rob

Post #19

Answer from Lenar Fatkhullin
MetaQuotes Software Corp.

No, now there is no hedging.

Bogdan Caramalac
762
Bogdan Caramalac  

I keep saying that because there will be no need of hedging the way it was. Events will make all trades trackable and the succession of trades will simply switch the status of the account, from 0-position to a-position. If your system will need to close all trades at once, or at least all trades that compose a hedge, there will be no problem. However, if you close only some trades from a hedge, the only issue is that you need to market, again, the trades that were closed in the first place. Example (all trades same lotsize):

MT4 style:

1. buy @ 1.3000

2. buy @ 1.3100  

3. sell @ 1.3200  

4. sell @ 1.3300 

5. sell @ 1.3400

6. closing [3,4,5] @ 1.3500 : take profit = -300-200-100 = -600

7. closing [1,2,3] @ 1.3600 : take profit = +600+500 = 1100

Profit = 1100 - 600 = 500

MT5 style:

1. buy @ 1.3000 ; bulk position = 1 lotsize long

2. buy @ 1.3100 ; bulk position = 2 lotsizes long

3. sell @ 1.3200 ; bulk position = 1 lotsize long, take profit = 1x200 [trade 1] = 200, running profit = 100 [trade 2]

4. sell @ 1.3300 ; bulk position = flat, take profit = 1x200 [trade 2] = 200

5. sell @ 1.3400 ; bulk position = 1 lotsizes short

6. Mimic sells closing, by reconstructing buys

6a. Close sell [5] @ 1.3500 ; bulk position = flat, take profit = 1x(-100) = -100

6b. Relaunch buy 1,buy 2 @ 1.3500 ; bulk position = 2 lotsizes long

7. close relaunched buys @ 1.3600, take profit = 2x100 = 200

Taken profits overall : 200+200-100+200 = 500


See, there is no reason to fear, but there are some complications though.

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