Creating a short order

New comment
  
            request.action=TRADE_ACTION_DEAL;         
            request.symbol=_Symbol;                   
            request.volume=volume;                    
            request.tp=price-1;        
            request.sl=price+1;                
            request.price=price;

            request.type=ORDER_TYPE_SELL;             // order type

Is it possible to trade the short way in mql5. I want to make profit while the chart is going down.

Thanks.

 

  1. Of course, in FX. Other instruments, maybe.

  2.             request.tp=price-1;        
            request.sl=price+1;

    You buy at the Ask and sell at the Bid. Pending Buy Stop orders become market orders when hit by the Ask.

    1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?

    2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close at a specific Bid price, add the average spread.
                MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25

    3. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)

      Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes.
      My GBPJPY shows average spread = 26 points, average maximum spread = 134.
      My EURCHF shows average spread = 18 points, average maximum spread = 106.
      (your broker will be similar).
                Is it reasonable to have such a huge spreads (20 PIP spreads) in EURCHF? - General - MQL5 programming forum (2022)

 
William Roeder #:

  1. Of course, in FX. Other instruments, maybe.

  2. You buy at the Ask and sell at the Bid. Pending Buy Stop orders become market orders when hit by the Ask.

    1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?

    2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close at a specific Bid price, add the average spread.
                MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25

    3. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)

      Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes.
      My GBPJPY shows average spread = 26 points, average maximum spread = 134.
      My EURCHF shows average spread = 18 points, average maximum spread = 106.
      (your broker will be similar).
                Is it reasonable to have such a huge spreads (20 PIP spreads) in EURCHF? - General - MQL5 programming forum (2022)

Hi William, 

Thanks for the response but as I was debugging my code it seems that the the parameters I entered didn't work. I had an error concerning the TP value being lower than the price, I think (4756). How would you place a SELL order TP/SL in MQL5?

 
Thomas Mainguy #:

Hi William, 

Thanks for the response but as I was debugging my code it seems that the the parameters I entered didn't work. I had an error concerning the TP value being lower than the price, I think (4756). How would you place a SELL order TP/SL in MQL5?

Look at the documentation please.

I would suggest you to use CTrade from the standard library instead of using the raw trading functions.

 
Alain Verleyen #:

Look at the documentation please.

I would suggest you to use CTrade from the standard library instead of using the raw trading functions.

DO you know which one is the alternate the action TRADE_ACTION_DEAL of type ORDER_TYPE_SELL.

I tried trade.Sell with those parameters:

trade.Sell(volume,_Symbol,price,NULL,price-0.5,NULL);

But it triggered instant sells (which isn't actually what I'm looking for.

Thanks for the help!

 
Thomas Mainguy #:

DO you know which one is the alternate the action TRADE_ACTION_DEAL of type ORDER_TYPE_SELL.

I tried trade.Sell with those parameters:

But it triggered instant sells (which isn't actually what I'm looking for.

Thanks for the help!

trade.Sell() is exactly using ORDER_TYPE_SELL which results in the TRADE_ACTION_DEAL.

How could I know what you are looking for ? If not instant sell, then what ?

 
Alain Verleyen #:

trade.Sell() is exactly using ORDER_TYPE_SELL which results in the TRADE_ACTION_DEAL.

How could I know what you are looking for ? If not instant sell, then what ?

It trigger an instant sell and not an order in which the take profit is lower than the initaI order price. It doesn't trigger the inverse an ORDER_TYPE_BUY or maybe are my parameters wrong but I don't see the stop limit appear either the initial price.


Here's what I got when sending the order:

CTrade::OrderSend: instant sell 0.10 XAUUSD at 1976.67 tp: 1976.17 [requote (1976.59/1976.67)]

requote 1976.61 / 1976.69 / 1976.61 (instant sell 0.1 XAUUSD at 1976.69 tp: 1976.19)

requote 1976.61 / 1976.69 (instant sell 0.1 XAUUSD at 1976.69 tp: 1976.19)


 
Thomas Mainguy #:

It trigger an instant sell and not an order in which the take profit is lower than the initaI order price. It doesn't trigger the inverse an ORDER_TYPE_BUY or maybe are my parameters wrong but I don't see the stop limit appear either the initial price.


Here's what I got when sending the order:

CTrade::OrderSend: instant sell 0.10 XAUUSD at 1976.67 tp: 1976.17 [requote (1976.59/1976.67)]

requote 1976.61 / 1976.69 / 1976.61 (instant sell 0.1 XAUUSD at 1976.69 tp: 1976.19)

requote 1976.61 / 1976.69 (instant sell 0.1 XAUUSD at 1976.69 tp: 1976.19)


Inverse an ORDER_TYPE_BUY ? That doesn't make sense. You can't inverse an order. At best you can inverse a position if you are using a netting account, on an hedging account you will just open a new position.

If you want a SL/TP then either add them while opening a position, or modify an existing position to add/change them. You also have the option to close a position, it will send the needed order according to the position selected.

In all cases a SL/TP is not a STOP LIMIT order.

Please inform you how it works : https://www.mql5.com/en/articles/211

Orders, Positions and Deals in MetaTrader 5
Orders, Positions and Deals in MetaTrader 5
  • www.mql5.com
Creating a robust trading robot cannot be done without an understanding of the mechanisms of the MetaTrader 5 trading system. The client terminal receives the information about the positions, orders, and deals from the trading server. To handle this data properly using the MQL5, it's necessary to have a good understanding of the interaction between the MQL5-program and the client terminal.
 
Alain Verleyen #:

Inverse an ORDER_TYPE_BUY ? That doesn't make sense. You can't inverse an order. At best you can inverse a position if you are using a netting account, on an hedging account you will just open a new position.

If you want a SL/TP then either add them while opening a position, or modify an existing position to add/change them. You also have the option to close a position, it will send the needed order according to the position selected.

In all cases a SL/TP is not a STOP LIMIT order.

Please inform you how it works : https://www.mql5.com/en/articles/211

Those parameters works perfectly for going long (it could be replace as suggest with a cTrade class, but I didn't found the function to call from it). What function could I use for creating the exact same strategy but for going short. 

MqlTradeRequest request={};
            request.action=TRADE_ACTION_DEAL;         // immediate order execution
            request.symbol=_Symbol;                   // symbol
            request.volume=volume;                    // volume in 0.1 lots
            request.tp=takeProfit;                    // Take Profit is not specified
            request.price=price;                      // prICE
         

            request.type=ORDER_TYPE_BUY;                // order type
            
            MqlTradeResult result={};
            OrderSend(request,result)
 
Alain Verleyen #:

Inverse an ORDER_TYPE_BUY ? That doesn't make sense. You can't inverse an order. At best you can inverse a position if you are using a netting account, on an hedging account you will just open a new position.

If you want a SL/TP then either add them while opening a position, or modify an existing position to add/change them. You also have the option to close a position, it will send the needed order according to the position selected.

In all cases a SL/TP is not a STOP LIMIT order.

Please inform you how it works : https://www.mql5.com/en/articles/211

its working fine with the broker but it doesn't work when testing in mt5 only

Inconsiderate language removed by moderator. Please address people properly.

New comment
Reason: