MetaTrader 5 Trading System - page 4
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Doesn't my previous post make sense to you? If hedging enabled it is completely up to you wheter to close or hold the desired position. If you merge orders you completely lose the chance for negative orders return to positive. Another usage is martingale system. If you continue to increase position size after each wrong trade all winning positions have profit larger than the losing ones. But if u closed all positions except one then the last profit would not be enough to counterbalance positions those are closed in negative.
And last word, is it so diffucult for program to let hedging or merging option to brokerage's wish.
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 MT5, you would have counted how many shorts were stopped out by longs and you would have reopened a big short trade @ 1.4702, then hold your breath until 1.46694...To the MT5 detractors, Alexander Saidullin confirms in the October eForex Magazine my idea : it was made for multiasset approach.
I am very happy that MT5 beta release date is 12 October.
In your table that shows the difference between MT4 & MT5 trades for going short 3 lots of Euro-USD that there are 3 x 1 lots for MT4 but only 1 lot for MT5? Is this an error or is there a limit of 1 lot for going short in MT5? In MT4 it is currently possible to have a single open trade on one currency pair that is larger than 1 lot and not have to have to have 3 open trades in order to trade on 3 lots of a currency pair as the chart indicates is it not?
Do I understand this correctly that in MT5 it will only be possible to have one open trade on any currency pair at any given time?
If so, you've got to be kidding !?!
.
As to modifying existing open trades, in my very limited experience most brokers only allow for order modification on existing open trades of the T/P & S/L and NOT the quantity of lots. If I understand this correctly with MT5 in order to ‘modify’ the quantity of lots on existing open trades on one currency pair, one will now have to close out all of the open trades and open only one new one to accommodate this with the resulting increased profit for brokers and losses for traders on the spread every time this transpires. What about hedging and the enhanced flexibility of having more than one trade open on a single currency pair that is currently allowed with MT4? If this is being done under the guise if 'ease of use' and 'simplicity' then it says a great deal about MetaQuotes and/or the influence of the brokers. So just who is it that is going to benefit from MT5 ?
If MetaQuotes is going to bring about all of these limitations to the ForEx to accommodate and gain a larger market share of commodities trading, then they need to have separate platforms/client terminals for the ForEx and the futures market as opposed to shafting us with the 'benefits' of one unified MultiMarket trading platform/client.
If these limitations are imposed on ForEx traders with MT5, I for one will be looking for non US brokers that still supports MQL4 and/or start taking a close look at the web browser based platforms that many brokers offer.
So much for ‘progress’, but for whom ?
In your table that shows the difference between MT4 & MT5 trades for going short 3 lots of Euro-USD that there are 3 x 1 lots for MT4 but only 1 lot for MT5? Is this an error or is there a limit of 1 lot for going short in MT5? In MT4 it is currently possible to have a single open trade on one currency pair that is larger than 1 lot and not have to have to have 3 open trades in order to trade on 3 lots of a currency pair as the chart indicates is it not?
Do I understand this correctly that in MT5 it will only be possible to have one open trade on any currency pair at any given time?
If so, you've got to be kidding !?!
.
As to modifying existing open trades, in my very limited experience most brokers only allow for order modification on existing open trades of the T/P & S/L and NOT the quantity of lots. If I understand this correctly with MT5 in order to ‘modify’ the quantity of lots on existing open trades on one currency pair, one will now have to close out all of the open trades and open only one new one to accommodate this with the resulting increased profit for brokers and losses for traders on the spread every time this transpires. What about hedging and the enhanced flexibility of having more than one trade open on a single currency pair that is currently allowed with MT4? If this is being done under the guise if 'ease of use' and 'simplicity' then it says a great deal about MetaQuotes and/or the influence of the brokers. So just who is it that is going to benefit from MT5 ?
If MetaQuotes is going to bring about all of these limitations to the ForEx to accommodate and gain a larger market share of commodities trading, then they need to have separate platforms/client terminals for the ForEx and the futures market as opposed to shafting us with the 'benefits' of one unified MultiMarket trading platform/client.
If these limitations are imposed on ForEx traders with MT5, I for one will be looking for non US brokers that still supports MQL4 and/or start taking a close look at the web browser based platforms that many brokers offer.
So much for ‘progress’, but for whom ?
Doug, MT5 isn't for the traders, it's for the brokers....and we really can't complain too much...because the brokers pay Metaquotes...The real problem that Metaquotes doesn't understand is that without us traders, the brokers won't need Metaquotes....I'm sure that they'll understand when the see not many embracing MT5. The biggest problems are, as you pointed out, only one overall position per pair ( It is a running total of your orders...you don't have to close an order to add) which means NO HEDGING......Hedging is a very valuable strategy that Metaquotes has decided we shouldn't use.....The fact hat MT4 programs are not compatible with MT5 is also bad.....
Hi,
It’s obvious that MetaQuotes is catering to the brokers and are not very concerned about the individual ForEx traders. MT5 will ‘stack the deck’ more in the broker’s favor. Though it is quite likely that many of the large institutional investment organizations that trade a wide variety of investment vehicles make up a significant portion of ForEx investors and will like it because it is a unified multimarket platform /client. But there are a LOT of us ‘little guys’ out there that either don’t trade on anything but the ForEx or it is there primary focus. Enough that when taken all together will have a significant impact on the ForEx. I hope that we can unify and all of us vote with our feet and our sheckles and boycott MT5. If enough of us do it, it will make a very significant impact and force change to a more equitable situation for us/all. Does anyone know what portion of the ForEx speculators are individual investors?
I mentioned some broker’s’ web based platforms’. What other avenues are available to us to trade the ForEx other than with MetaQuotes software?
I don’t hedge much but there are times when it useful to minimize the losses on a trade gone south. But there are many traders that utilize this as their primary algorithm.
There are a significant number of ForEx investors &/or programmers that utilize Martingale &/or Scalping EAs that will not work with MT5 even if the code is ‘translated’ to this new ‘wunderkind’. I know of some of these types that are now in the beta testing stage after a long arduous, expensive, time consuming journey clawing their way up the very considerable learning curve that will render there very heavy investment on many different levels useless with MT5.
I am new to both the ForEx and MQL4 and am working at modifying an existing Martingale (scalper) by adding a Stop Loss to it in order to close out the losers that keep inexorably draining an account because of this problem and the lack of ability to ‘nip them in the bud’.
As I said: “Progress, but for whom?”
If so, you've got to be kidding !?!
Precisely my sentiment regarding MT5 trading functionality.
I actually start to laugh every time I click the New Order button in MT5 (no I'm not joking at all!)
Oh well, I guess I'll just continue using MT for charting only...
Hi Max,
Do you know of any other ForEx Client software that does NOT charge commisions &/or monthly fees ?
“Progress, but for whom?”
Progress for the real deal, the real stuff about trading, not the faint attempts that are being done for so many years. MT4, even if it was the best solution available for retail traders, cloudened the judgement. It's time to wake up! Who taught you people that hedging means to buy and sell the same thing? The sole purpose of such a hedge is to take a deep breath when you're out of ideas... Hedging means you use multiple pairs to hedge - which you can do now, but with almost no success -, you can hedge fx with futures - which can be done now, with very little success -, and you can finally hedge fx with fx options - which will be possible on MT5 - and that's where the most interesting games are going to be. Because that's what trading is - capitalizing when market is making mistakes (if trading regular stuff) or capitalizing on volatility (if trading options). I can barely wait to do these things - but I need the Strategy Tester first . I attempted fx-futures arbing in the past. It didn't work because MT4 was always en retard. Now it will work. I want to trade options. There are a lot of games there that ellude fx traders - fx traders know nothing about boxes, collars or gamma scalping. And if THEY do it, why not us too ? It is time to harness the potential of derivatives and multiasset trading - this what the PROGRESS is about.