I'm with Supertrade on this. Makes the trade and the script really clumsy (I don't get ubzen's point at all about an old way of trading). Very good point about the follow up stop order not getting through. The "new way" means trading possibly without a stop. Too risky for me. I've been trading MT4 simultaneously at Forex.com and another broker. I have three accounts at Forex.com. Supertrade has persuaded me to close them today and move to the other broker.
I mentioned brokers, spank me.
I mentioned brokers, spank me.
Agreed. And this is hardly a new topic; FXCM shifted some of their customers onto market execution at least as long ago as February 2009.
For example, I participated in a discussion about it on this forum 15 months ago: https://www.mql5.com/en/forum/126860. Yes, it makes life harder, eating away at one of the aspects which makes - or used to make - life with MT4 simple compared to other platforms. On the other hand, it's not as though the roof has fallen in. The issue in question is commonplace in other trading platforms; it's merely slightly new and slightly uncommon in the MT4 world. According to what I wrote 15 months ago, a very incomplete list of brokers who already at that time didn't allow an s/l with a buy/sell order included Broco, CMS, FXCM, FXOpen (ECN accounts), Go Markets, MB Trading, MIG, and NordMarkets. This is not exactly a new phenomenon. The title of this topic is nonsense; this isn't about Forex.com trying to screw traders.
Looking on the bright side, at least you can still place the s/l and t/p together as a single transaction which either succeeds or fails. The worst case on other platforms (see https://www.mql5.com/en/forum/126860 again) is that you have to place the s/l, then the t/p, and then combine those orders into an OCO group. And progressively unwind things if anything in this sequence goes wrong. MT4 remains comparatively easy to work with.
Why don't you post your wish list and hope the freaking Broker Santa fills it for Christmas. I'll start and perhaps you can finish.
-I don't want Freeze_Levels, I wanna execute my trades and have the option to close it right there and then, it's my right.
-I want to scalp between the Spreads, and not have the Brokers kick me out like the Casino's kick me out for counting cards at their table.
-I want Real Market Pricing, non-of that In-House, Broker-Adjusting Risk when their Pro-folio have too many Long on one Side crap.
-I want Fixed, Did you hear me, FIXED spread. Heck forget that .... I want No freaking spreads at all. It's hard enough to win.
-I want 100000000000000:1 (US) leverage, because i understand leverage and know that only NOOBS size orders without knowing that if the order toke a 5-pip drop the account will blow.
-I want to be able to Hedge (US). None of your business if I have a 0-Net position. And don't get me started on First-In-First-Out, Heck is that suppose to protect me against, Swaps?
-I want NO-Minimum-Distance on my pending order. This is the 20 (what century are we in) whatever century. Update your platform and deal with it.
-I want 1% or less Stop-Out Levels because I know you have the ability to close my account when my Funds reaches 1-Penny. Technology People!!! .. Update your platforms again.
-Slippage..... WHY, My mother didn't raise no-fool. I don't want to EVER...EVER see any slippage.. EVER again. Don't give my that stuff about price change. I'm the customer Brokers, you eat the loss not my fault.
What I couldn't give a rabbit's foot about. You making me Set-Stop-Loss-Order after I place the Original-Order. Markets don't move that fast (given the fact you have a minimum distance anyways); I could just close the order manually or via EA/Scripts long-before your option on Stop-Levels.