Certainly MT5 was far more improved over MT4. But still majority traders are using MT4........ - page 5

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Alain Verleyen
40780
Alain Verleyen  
tonny:
High angevoyageur ive been here just been a bit busy outside forum.
Of course, I was only joking, you are welcome.
Tonny Obare
88499
Tonny Obare  
When you cant open two separate trades on one pair it means you cant effectively use two different EAs or strategies on one account because when a trade is open and another opens in for the same pair then there will be interference. Where did the other moderators go I don't see them any more newdigital with market predictions :-D, raptor etc the later even removed me from friend list.
Arturo Lopez Perez
517785
Arturo Lopez Perez  
FinanceEngineer:
Ironically there is few Grid EAs in MT 5. How do they do that? Just curious if they has the same performance as their MT 4 version....
Really? I would like to see them. Mt5 averages your trade into one and doesn't allow hedging :-(
Stephen Njuki
4950
Stephen Njuki  
FinanceEngineer:
Thanks for sharing this. I didn't know MT 4 was supporting OOP. That is good news. I also started to do some coding again using MT 4. I should play with OOP in MT 4.
Yeah… and one more thing I forgot is in theory e.g. when you're using strategy tester orders always get closed at the time you want them… but when trading brokers always throw up funny errors to delay the close of an order. This can be risky. Now in MT5 you close orders by sending a new order in the opposite direction meaning you actually run the risk of opening un intended orders opposite to the current position you're closing.
Ian Venner
2397
Ian Venner  
tonny:
Blending mt4 with mt5 just made it more powerful and now more than ever mt5 has no chance of replacing mt4. In my opinion the downfall of mt5 is not allowing hedging as an option but hard coding that you cant hedge on mt5 so brokers that allow hedging preffered mt4. Not just individuals but also brokers stuck with mt4 and one of which im with even mailed clients and said they dont plan on replacing mt4 but will have mt5 accounts in addition. I dont think brokers care about how hard or easy mt4/mt5 coding is but they are the major determinants of what clients would use and they showed mt5 their big hairy back.


I don't think hedging or not hedging is the big deciding factor, for one thing the entire US market is subject to NFA regulations which do allow hedging anyway, and if you really want to hedge on MT5 there are ways around it. You can have more than one account, more than one terminal etc.

You are right the brokers do not care how hard the coding is but the clients do and the broker will try to provide what the clients are asking for because that is how he keeps his clients. Clients wanted to keep using MT4 because they saw nothing to gain by changing to MT5 and most of those who code for their MT4 did not want to have to learn for a second time how to code for the platform especially when the new language is much more difficult and time consuming to learn than the one they already know.

Young Ho Seo
61981
Young Ho Seo  
ssn:
Yeah… and one more thing I forgot is in theory e.g. when you're using strategy tester orders always get closed at the time you want them… but when trading brokers always throw up funny errors to delay the close of an order. This can be risky. Now in MT5 you close orders by sending a new order in the opposite direction meaning you actually run the risk of opening un intended orders opposite to the current position you're closing.

 

This is very true. Have you try to check your order status using 10008 or 10009 return code? This might help to prevent this kind of closing errors.

Young Ho Seo
61981
Young Ho Seo  

Despite of some disadantage of one position rule, I was actually giving quite good rating for MT 5 for its strategy tester and backtesting facility.

However somehow, from yesterday, my historical data quality is less than 20% from several brokers when I tested some of my strategy.

So my rating for Mt 5 strategy tester was lttle downgraded due to this reason. In Mt 4 you can do at least something. But in Mt 5 you can't do much from your side as it is brokers responsible for it.

Jinsong Zhang
15492
Jinsong Zhang  

if you trade more than 20 pairs at same time, you must need MT5

Young Ho Seo
61981
Young Ho Seo  
song_song:

if you trade more than 20 pairs at same time, you must need MT5

Is this  mean that you can trade 19 pairs at the same time with MT 4?
Tonny Obare
88499
Tonny Obare  
SDC:


I don't think hedging or not hedging is the big deciding factor, for one thing the entire US market is subject to NFA regulations which do allow hedging anyway, and if you really want to hedge on MT5 there are ways around it. You can have more than one account, more than one terminal etc.

You are right the brokers do not care how hard the coding is but the clients do and the broker will try to provide what the clients are asking for because that is how he keeps his clients. Clients wanted to keep using MT4 because they saw nothing to gain by changing to MT5 and most of those who code for their MT4 did not want to have to learn for a second time how to code for the platform especially when the new language is much more difficult and time consuming to learn than the one they already know.

If mt5 were given mt4 trading style man you would have had to switch to mt5 because it certainly would have replaced mt4. Im yet to hear of a broker that did a survey or switched to mt5 fully then back to mt4 because clients complained but all i know is that from the word go they never planned to replace mt4 with mt5 but just introduced mt5 separately because of its trading limitation.
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