upinthestars: I am aware that based on the broker of choice, there will be a max number of lots that can be opened per position. In my case, that is set to 100 lots per position. Is there a mt4/mt5 optionality to set 100 lots as the max limit across all positions? Ideally, this would help prevent opening any more positions even if I did attempt to hit the buy/sell button?
No, there is no such configurable limitation.

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Is there a mt4/mt5 optionality to set 100 lots as the max limit across all positions? Ideally, this would help prevent opening any more positions even if I did attempt to hit the buy/sell button?