Changing one order changes all

 

MT4 newbie. This is actually my first trade so thanks for the patience. Here's what I'm trying to achieve.


Buy EURCHF

Entry: 1.0800

Stop Loss: 1.0735

Target 1: 1.0875

Target 2: 1.1010

I've read enough about how to do this such that I tried to do this in two trades, each with the same Entry and Stop Loss and different targets. That seemed to work well enough.

However, when I look at existing orders (and I do have two separate orders), my targets are the same on both. If I try change one of the targets, it changes them both. 

I'm assuming this is user error but not sure how to debug.

Thanks in advance.

Basic Principles - Trading Operations - MetaTrader 5 Help
Basic Principles - Trading Operations - MetaTrader 5 Help
  • www.metatrader5.com
is an instruction given to a broker to buy or sell a financial instrument. There are two main types of orders: Market and Pending. In addition, there are special Take Profit and Stop Loss levels. is the commercial exchange (buying or selling) of a financial security. Buying is executed at the demand price (Ask), and Sell is performed at the...
 
nduckste: If I try change one of the targets, it changes them both.
Your broker is doing that for FIFO rules. All open tickets get the same TP/SL so the first open must close first as required by law rules.

Since 2009, hedging is not permitted for US traders.
          NFA Enforces FIFO Rule, Bans Forex Hedging in US Forex Accounts - Trading Heroes September 12, 2016
          FAQ: FIFO in the Forex Market - BabyPips.com May 31, 2011

"Hedging" in Forex trading -Why do it? - Trading Systems - MQL5 programming forum 2017.01.18

NFA Enforces FIFO Rule, Bans Forex Hedging in US Forex Accounts
  • 2016.09.12
  • Hugh Kimura
  • web.archive.org
The National Futures Association has banned hedging in all forex accounts in the United States. The reason for the ban is unclear at this point. Hedging is when you are allowed to enter offsetting positions at the same time. In other words, you can be long 1 lot of GBPUSD and short 1 lot of GBPUSD without the second position closing out the...
 
William Roeder:
Your broker is doing that for FIFO rules. All open tickets get the same TP/SL so the first open must close first as required by law rules.

Since 2009, hedging is not permitted for US traders.
          NFA Enforces FIFO Rule, Bans Forex Hedging in US Forex Accounts - Trading Heroes September 12, 2016
          FAQ: FIFO in the Forex Market - BabyPips.com May 31, 2011

"Hedging" in Forex trading -Why do it? - Trading Systems - MQL5 programming forum 2017.01.18

Thanks for that. Are you saying it is just a visual thing, and once the first target is hit I'll see the other order with the second target?

Or are you saying what I need to do is 

  1. Create my original entry for 0.2 lots.
  2. Put my full stop loss in for full 0.2 lots.
  3. Create a target limit order at Tgt1 on 0.1 lots.
  4. When that gets hit, make sure my stop gets adjusted from 0.2 to 0.1 lots (if it didn't do so automatically) and potentially adjust the price to break even if that's part of my strategy.
  5. Create a new target limit order at Tgt2 on the remaining 0.1 lots.
Nick
 
Neither. The first opened order must close first. Don't create multiple orders, create one and do partial closes.
 
William Roeder:
Neither. The first opened order must close first. Don't create multiple orders, create one and do partial closes.

Perfect. That's exactly what I was trying to communicate in those five steps.

If I'm not mistaken, that exactly what would be achieved with attached screenshot (not saying this is a good trade):

  1. Current price is 105.524.
  2. OCO order to sell 2,000 when 105 is hit.
  3. Stop is at 106 if it goes the wrong way for 2,000
  4. Partial profits taken of 1,000 at 104 if that gets hit.

I believe attached screenshot would execute this steps 1-4.

I'm left to do the following after that if partial profits are taken:

  1. Create a new target limit below 104 for remaining 1,000.
  2. Move my stop loss below 106 if I so choose.
Files:
oco.jpg  94 kb
Reason: