With the annoying FIFO restrictions in the US, how do I set a single TP for all the positions I open? - page 2

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William Roeder:
Your first order has no TP or SL. Set that before opening new orders. Then set the new stops further than the original.


In the video that I posted, that was my first order that I was trying to modify. Or are you saying that I should place an order with an SL and TP, otherwise I wouldn't be able to place it later on? I know that I can only close orders in a sequence from first to last.

I recorded another video: 

https://www.youtube.com/watch?v=2fFVs6wI7kQ



Dominik Egert:
As I said. Begin with the oldest position.

It's FIFO. Think of it like a line of people. Any condition set must under all circumstances keep the order of the line. No express drive in available, no VIP entrance... or in this case Exit.


That was the oldest postion. See the second video I recorded... I only have two positions open. I failed trying to set stoplosses on both of them.
 
As far as I can tell, maybe someone can correct me on this. But you are having a sell limit order pending in between your wished SL level and the current positions state. - Which gets executed first?
 
Dominik Egert:
As far as I can tell, maybe someone can correct me on this. But you are having a sell limit order pending in between your wished SL level and the current positions state. - Which gets executed first?

I deleted the pending order and then I tried setting SL and TP but it still doesn't work. 


I did come across this however, as I was searching online to see if other's were having the same problems as me: 

https://www.forexfactory.com/thread/post/12404498#post12404498


^So if I'm understanding it right, it means that I cannot set Stop Loses or Take Profits unless all my orders on that currency pair are of a different size. What is the point of this? And is this just Oanda or do all FIFO compliant brokers have this rule?  

 

C'mon guys... no one has anything to say now? Do you guys trade or do you just write code? It sucks because I can't be in front of my computer 24/5. This, for example, I'd like to have closed at breakeven (and then maybe enter another short at the highs):  irritating


^But I had to leave for several hours and now I'm stuck with it. 

 
I've read up the regulation and I am still not smarter than before... At least I don't understand your case and why it is so.

I will need to test it on a demo account to get a grasp of it.

Maybe you could contact your broker to get clarification.





 
Ok, I found this post and I guess that's it. You just cannot do it.

Anyways, the pending order you had, would have also prevented you from placing the stop loss.

https://www.forexfactory.com/thread/post/2845604#post2845604

(I am on mobile and cannot post the link clickable.)
 
Dominik Egert:
Ok, I found this post and I guess that's it. You just cannot do it.

Anyways, the pending order you had, would have also prevented you from placing the stop loss.


(I am on mobile and cannot post the link clickable.)

That's that then... But maybe I can find an EA that I can set to SL and TP. 

 
san52341 #:

That's that then... But maybe I can find an EA that I can set to SL and TP. 

You can't by Oanda rules if you have the same trade size. Manually or by code is irrelevant.

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