I would like to ask a question because I am having some trouble with the Netting Position Accounting system. Whereas in the Hedging system I can have multiple open positions with their own, individual SL, in the netting as you know I can have one position (that grows or reduces according to the orders) BUT the SL of the position is going to be that of the last order
Now, my issue is this.
Say I have two orders with 100 pip stoplosses E.g.
Order 1: market buy 0.01 1.23184 GBPUSD sl: 1.22184Order 2:
market buy 0.01 1.23142 GBPUSD sl:1.22142
My position after Order 2 will be
0.02 1.23163 GBPUSD sl: 1.22142
Nothing strange so far apart from the fact that when the sl of 1.22142 hits, the whole position will close and I will take more loss than I want from order 1. In a hedging system it should have closed a while ago (at 1.22184).
How can avoid this excessive loss? One option would be to adjust the sl of the position to the value of the position, that is, adjust it for sl: 1.22163 so on average the loss will be the same. However, order 2 is going to be stopped much earlier than what I would have wanted in a equivalent Hedging system.
The only solution I can see is using partial order closures without hard stop losses but have the EA track the stop losses. However this seems rather risky.
Say I have two orders again with different sized stop losses.
Order 1: market buy 0.01 1.23184 GBPUSD sl: 1.21184 (200 pips)Order 2:
market buy 0.01 1.23142 GBPUSD sl:1.22142 (100 pips)
With a netting system the position will be, as before
If the sl hits then order 1 will close much earlier than what I want.
How can I address these two problems?
i.e. enforce the stop losses that I want rather than what is inherited from the system. Some kind of bookkeeping solution?
yes I think using "manual" Stop Losses such as Sell Stops and Buy Stops might do the trick but maybe then we have a question of safety.
Is a SL that is part of a dealt market order safer than having a 0 SL and instead setting Sell/Buy stop as a new pending order?