Multiple Take Profit on single trade - page 2
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I may be wrong, since I don't use MT5 Netting account (only hedging accounts), but as far as I remember (when I looked into it), you cannot have multiple Stop-Loss or Take-Profit targets on MT5 Netting Account, even if they are separate orders.
If I remember correctly, once the pending orders are triggered, all Stop-Loss and Take-Profit targets are merged ("netted") and only the the last one set is the one used.
Maybe someone who actively uses Netting accounts can chime in and confirm or deny this!
I actively use netted accounts and I am confirming that the offsetting orders are automatically netted to the position, just like on a hedging account when you use closeby.
I am not disputing the "netting" of orders. I am questioning the fact the a single net position could have multiple take-profit targets. That is what I dispute based on the documentation I remember reading at the time I looked into it!
Please ignore! See subsequent posts!
I am not disputing the "netting" of orders. I am questioning the fact the a single net position could have multiple take-profit targets. That is what I dispute based on the documentation I remember reading at the time I looked into it!
I am confirming that you can set multiple offsetting limit (and stop) orders @ different levels on a netted account.
I think we are still mixing apples and oranges. I DO NOT dispute the fact that you can set multiple Orders with different S/L and/or T/P targets. I agree on that point.
What I am disputing, is that once those orders are triggered and they are "netted" into a single position, that single position will not have multiple targets, and only T/P of the last order to be triggered, is the T/P to be in effect for the entire position.
EDIT: Or maybe I am misunderstanding your explanation of how you setup those orders!
Please ignore! See my next post!
Yes, multiple TP is available on both MT4 and MT5 and also works with netted and hedging accounts. A TP is really a limit order placed with your broker. So to set multiple TP levels consider the following example.
Buy 1 lot @ 1.0
TP#1: Sell-limit 0.5 lot @ 1.25
TP#2: Sell-limit 0.5 lot @ 1.50
If all orders are executed on a netted account then no further action is required. If this is on a hedging account then you must use multiple-closeby before the rollover time to avoid swap fees.
OK! I understood now! I originally misread your post! Please ignore my previous comments!
OK! I understood now! I originally misread your post! Please ignore my previous comments!
No worries, brother Fernando!
Yes, multiple TP is available on both MT4 and MT5 and also works with netted and hedging accounts. A TP is really a limit order placed with your broker. So to set multiple TP levels consider the following example.
Buy 1 lot @ 1.0
TP#1: Sell-limit 0.5 lot @ 1.25
TP#2: Sell-limit 0.5 lot @ 1.50
If all orders are executed on a netted account then no further action is required. If this is on a hedging account then you must use multiple-closeby before the rollover time to avoid swap fees.
hi Nicholi
To enable Netted settings, is this something I have to request from my broker to do? I guess by default all accounts are usually hedging accounts. Or is there a setting somewjere on mt4 i can enable? thanks