Adding to position

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I am sure this is explained somewhere but did not find it.


What will be the sequence of events if I place  2  trades with Stoploss and different targets if both targets will be reached?

Will the end result be the same as in MT4?

 
ingvar_e:

I am sure this is explained somewhere but did not find it.


What will be the sequence of events if I place  2  trades with Stoploss and different targets if both targets will be reached?

Will the end result be the same as in MT4?

On MT5, if you place 2 trades on the same pair, it will finally add lots to the position and move the open price.

The TP and SL will be the one of the last trade placed if any. 

 
Marie-MiredeVie:

On MT5, if you place 2 trades on the same pair, it will finally add lots to the position and move the open price.

The TP and SL will be the one of the last trade placed if any. 

Does not sound like the end result will be the same as in MT4 where it will be handled as 2 separate orders. Not possible to "scale out" this way.
 
ingvar_e:
Does not sound like the end result will be the same as in MT4 where it will be handled as 2 separate orders. Not possible to "scale out" this way.
One solution would be to get the EA to partially close the order at each distinct stoploss
 
ingvar_e:
Does not sound like the end result will be the same as in MT4 where it will be handled as 2 separate orders. Not possible to "scale out" this way.

True !

MT4 and 5 have their own pros and cons.

They must be chosen carefully to get better results.  

 
Marie-MiredeVie:

True !

MT4 and 5 have their own pros and cons.

They must be chosen carefully to get better results.  

  That is for sure. I am working on a Multicurrency EA. In its original design (manual method) it had 4 postion, scaling out 3 and one trailing. The wastly improved backtesting features of MT5 forced me over to MT5. I started out implementing it with Pending ordes but gave up and backed down to one position only. Keeping track of the pending orders for both StopLoss ans TakeProfit turned out to be more than a mouthfull. First release will be with one order only. In order to implement next stage with scaling out I will probaly port it back to MT4. No hassle with scaling out there. Unless there is some foolproof method of handling this in MT5. What is missing is really an OCO method.
 
MetaNt:
One solution would be to get the EA to partially close the order at each distinct stoploss
  Yes. That could be done. But it implies that I have to monitor thetrade  all the time. I prefer to be on the safe side and place everything once and then forget about the trade. Then It does not matter if the EA stops or connection is lost.
 
ingvar_e:
  That is for sure. I am working on a Multicurrency EA. In its original design (manual method) it had 4 postion, scaling out 3 and one trailing. The wastly improved backtesting features of MT5 forced me over to MT5. I started out implementing it with Pending ordes but gave up and backed down to one position only. Keeping track of the pending orders for both StopLoss ans TakeProfit turned out to be more than a mouthfull. First release will be with one order only. In order to implement next stage with scaling out I will probaly port it back to MT4. No hassle with scaling out there. Unless there is some foolproof method of handling this in MT5. What is missing is really an OCO method.
If you need to open opposite positions on MT5, you can find brokers with specific hedging pairs. Dunno it it helps...
 
ingvar_e:
Does not sound like the end result will be the same as in MT4 where it will be handled as 2 separate orders. Not possible to "scale out" this way.

False !

You can get the exact same results. But the way to get it is different.

Marie-MiredeVie:

True !

MT4 and 5 have their own pros and cons.

They must be chosen carefully to get better results.  

Trading with MT4  or MT5 is very different, but if you apply the same strategy you will get the same results. Some strategy are more easy to realize with MT4, some others with MT5.

Applying various trading styles (hedging...) with MT5

 
angevoyageur:

False !

You can get the exact same results. But the way to get it is different.

Trading with MT4  or MT5 is very different, but if you apply the same strategy you will get the same results. Some strategy are more easy to realize with MT4, some others with MT5.

Applying various trading styles (hedging...) with MT5

Yes, it's a bit like giving the same answer with different words :-) :-) ;-)...
 
Marie-MiredeVie:
Yes, it's a bit like giving the same answer with different words :-) :-) ;-)...
I was understanding that you said you will get better results with one platform (or other). But I affirm you will get the same results. Probably just a misunderstanding.
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