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Thomas Oliveira
20
Thomas Oliveira 2015.02.11 21:59 

I have a problem in the terminology used my MQL4 book and documentation.

What does "to close an opened order" mean?

I understand what is "to close an open position", but not an order. As far as I know, one can have a pending order to either open, close or modify a position. When the order is executed, the order is gone. What would be an "opened order"?
honest_knave
969
honest_knave 2015.02.11 22:10  

You're thinking too hard about it.

They are all orders, don't make a terminology distinction between orders and positions. 

OrdersTotal() = Returns the number of market and pending orders

OrdersHistoryTotal() =  Returns the number of closed orders in the account history loaded into the terminal

Thomas Oliveira
20
Thomas Oliveira 2015.02.11 22:15  

Thanks, but for different ideas, we use different terms. I am sure MQL4 documentation does the same, perhaps using different adjectives instead of different nouns.

How does the documentation refer to an "instruction to buy or sell a currency at a specified rate" and to the situation I am after this instruction was executed?

honest_knave
969
honest_knave 2015.02.11 22:20  

I'm not sure exactly what you are after. There is nothing in MQL4 language about "position".

Everything relates to Order... take a look at the list of trade functions. Nothing in there at all about managing "positions".

If you place a market order, it will remain an order forever. At no point (in MQL4) does the market order become a "position".

Hope that helps. 

Thomas Oliveira
20
Thomas Oliveira 2015.02.11 22:25  

So just to verify if I am with you:

If I place a buy order, I have I pending order until somebody sells to me. At this moment, I have an opened order.

Is that alright?

honest_knave
969
honest_knave 2015.02.11 22:37  

If you want to place a market buy order you will use OrderSend(), which will send a request to the server resulting in either:

1. A buy order being opened (what you're calling a position); or

2. Failure (note: it won't persist as a pending order)

Have a read through the notes section of OrderSend() to get some more detailed information.

The request for a pending order is separate from a market order.

hji
26
hji 2015.02.12 08:01  
An order remains open until it is delivered or rather, attended to. Once it is attended to and the person who placed it confirms to be satisfied and pays for it,then it is closed.
Alain Verleyen
Moderator
28624
Alain Verleyen 2015.02.14 12:47  
ThomasO:

So just to verify if I am with you:

If I place a buy order, I have I pending order until somebody sells to me. At this moment, I have an opened order.

Is that alright?

If you send a buy order (request), you will have a buy order (market) or nothing (if request fails).

With MT4 market orders and pending orders are all orders.

A pending order once triggered becomes a market order.

A pending order can't be closed, it can be delete (or cancelled).

A market order can be closed.

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