Maximum number of Pending order

Zhang Fengqun -
Moderator
3992

Dear experienced traders


Do you know does pending order have a maximum or not? 

How much is the maximum? 


Thank you in advance and best wishes

William Roeder
26739
William Roeder  
Sky L: have a maximum or not? How much is the maximum? 

Maximum WHAT? Do you really expect an answer? There are no mind readers here and our crystal balls are cracked.
     How To Ask Questions The Smart Way. 2004
          Be precise and informative about your problem

Zhang Fengqun -
Moderator
3992
Zhang Fengqun -  
William Roeder:

Maximum WHAT? Do you really expect an answer? There are no mind readers here and our crystal balls are cracked.
     How To Ask Questions The Smart Way. 2004
          Be precise and informative about your problem

Thank you so much, William. 

Maximum number. 

50 orders, 100 orders, 1,000 orders, like that. 

Mohamad Zulhairi Baba
33296
Sky L:

Dear experienced traders


Do you know does pending order have a maximum or not? 

How much is the maximum? 


Thank you in advance and best wishes

https://www.mql5.com/en/docs/constant_indices

ACCOUNT_LIMIT_ORDERS

Documentation on MQL5: List of MQL5 Constants
Documentation on MQL5: List of MQL5 Constants
  • www.mql5.com
Signature of the function in whose body the macro is located. Logging of the full description of functions can be useful in the identification of overloaded functions Chart fixed position from the left border in percent value. Chart fixed position is marked by a small gray triangle on the horizontal time axis. It is displayed only if the...
Zhang Fengqun -
Moderator
3992
Zhang Fengqun -  
Mohamad Zulhairi Baba:

https://www.mql5.com/en/docs/constant_indices

ACCOUNT_LIMIT_ORDERS

Thank you so much, Mohamad. 

Sorry for my poor explanation, I don't want to limit it by code. 

I'm wondering if I make a huge number of pending order, will the system reject to open new pending order by a maximum limitation. 

William Roeder
26739
William Roeder  
Sky L: I'm wondering if I make a huge number of pending order, will the system reject to open new pending order by a maximum limitation. 
  1. Likely.
  2. On my MT4 I get zero.
  3. There is no need to create any pending orders.
    1. The pending has the slight advantage, A) you are closer to the top of the queue (filled quicker,) B) there's no round trip network delay (filled quicker.)
    2. Don't worry about it unless you're scalping M1 or trading news.
    3. Humans can't watch the screen 24/7, so they use pending orders; EAs can, so no need for pending orders, have it wait until the market reaches the trigger price and just open an order.
Enrique Dangeroux
788
Enrique Dangeroux  
William Roeder:
  1. Likely.
  2. On my MT4 I get zero.
  3. There is no need to create any pending orders.
    1. The pending has the slight advantage, A) you are closer to the top of the queue (filled quicker,) B) there's no round trip network delay (filled quicker.)
    2. Don't worry about it unless you're scalping M1 or trading news.
    3. Humans can't watch the screen 24/7, so they use pending orders; EAs can, so no need for pending orders, have it wait until the market reaches the trigger price and just open an order.

There is. With a proper broker a limit order does not have any negative slippage. Downside is you aren't guaranteed to get filled.

Sky L:

I'm wondering if I make a huge number of pending order, will the system reject to open new pending order by a maximum limitation. 

There are other things to consider.

-There can be margin requirements for pending orders, you can run out of margin before reaching the maximum of pending orders allowed by your broker.

-Most if not all brokers also have a limitation on trade operations, this limit can not be obtained through the terminal. This means when you modify your sl/tp on your 200 order grid on every tick, trade operations can run up quickly so you will have to consider trade logic to prevent this.

Zhang Fengqun -
Moderator
3992
Zhang Fengqun -  
William Roeder:
  1. Likely.
  2. On my MT4 I get zero.
  3. There is no need to create any pending orders.
    1. The pending has the slight advantage, A) you are closer to the top of the queue (filled quicker,) B) there's no round trip network delay (filled quicker.)
    2. Don't worry about it unless you're scalping M1 or trading news.
    3. Humans can't watch the screen 24/7, so they use pending orders; EAs can, so no need for pending orders, have it wait until the market reaches the trigger price and just open an order.

Thank you so much, William. 

Zhang Fengqun -
Moderator
3992
Zhang Fengqun -  
Enrique Dangeroux:

There is. With a proper broker a limit order does not have any negative slippage. Downside is you aren't guaranteed to get filled.

There are other things to consider.

-There can be margin requirements for pending orders, you can run out of margin before reaching the maximum of pending orders allowed by your broker.

-Most if not all brokers also have a limitation on trade operations, this limit can not be obtained through the terminal. This means when you modify your sl/tp on your 200 order grid on every tick, trade operations can run up quickly so you will have to consider trade logic to prevent this.

Thank you so much for your advice, Enrique.