Is it needed to keep metatrader open ?

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saeeds255
33
saeeds255  

Helli,

Is it needed to keep it open all the time when there are active pending orders (buy limit and buy stop limit) with s/l or t/p ?

Carl Schreiber
Moderator
7069
Carl Schreiber  

Only if you want to modify/delete them or send more orders.

And it means you trust the broker!

saeeds255
33
saeeds255  
Carl Schreiber:

Only if you want to modify/delete them or send more orders.

And it means you trust the broker!


What if the broker doesn't have the ability to set SL or TP ?

I mean Metatrader should monitor the price to see when the price hit the SL then send sell order

Meng Yin Teoh
2152
Meng Yin Teoh  
saeeds255:


What if the broker doesn't have the ability to set SL or TP ? 

I mean Metatrader should monitor the price to see when the price hit the SL then send sell order

RUNNNNNN!!!!!!!!!!! :D
Pete
221
Pete  
saeeds255:

Helli,

Is it needed to keep it open all the time when there are active pending orders (buy limit and buy stop limit) with s/l or t/p ?

Hi, once you place any pending orders, including stops and take profits, they are server side (broker), not client side (you).  So if you shut down your MT4 or MT5, the broker will still have those orders in their system and they will be triggered as necessary.

But, your questions do raise the possibility that you are not yet fully aware of the processes involved (I mean this as no criticism I assure you), and therefore I would strongly advise you to not trade with real money until you have gained some more experience using a demo account.  Please!  It is all too easy in this game to lose a lot of money while learning, I speak from bitter experience.

Hope this helps, Pete.


EDIT:  Sorry, just thought, I believe if you place a trailing stop that is driven on your client platform, so it needs to remain on for that to work.  If you close the platform the stop will remain at the last position, and be triggered there if price moves to it.

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