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if you are in a open sell trade and you put a buy limit order, does it take off from the original trade your in or does it just open a buy trade?
 
Wyatt Hampton: if you are in a open sell trade and you put a buy limit order, does it take off from the original trade your in or does it just open a buy trade?
  • If it is a "netting" account, it will reduce the current open position.
  • If it is a "hedging" account, then it will simply open another position.

Consider setting a "take-profit" on the open position instead.

Using stops (take-profit, or stop-loss) makes it easier to manage the position irrespective of it being a "netting" or "hedging" account.

 

I am assuming this is a question about MetaTrader 5, because you posted in the "General" section, and answered accordingly.

However, if this is about MetaTrader 4, then only the "hedging" option exists.  The MT4/MQL4 section is at the very end of the forum, so post there in the future if it is the case.

 
Fernando Carreiro #:

I am assuming this is a question about MetaTrader 5, because you posted in the "General" section, and answered accordingly.

However, if this is about MetaTrader 4, then only the "hedging" option exists.  The MT4/MQL4 section is at the very end of the forum, so post there in the future if it is the care you able to manually place

yes its mt5, how do you know if its netting, i wanted to have multiple take profits on one trade, am i able to place a netting order as a limir order on the chart to take profit at a certain price, i only ask becasue this is how tradingview does it

 
Wyatt Hampton #: yes its mt5, how do you know if its netting,

You should now because you were the one that acquired the account, but it should also be reported in the Journal log when you connect as well as in the application header ...



 
Fernando Carreiro #:You should now because you were the one that acquired the account, but it should also be reported in the Journal log when you connect as well as in the application header ...

where is the setting to enable netting mode? i cant find it and mines on hedging

 
could this be the reason why my robot is not take partial profits?
 
Wyatt Hampton #: i wanted to have multiple take profits on one trade, am i able to place a netting order as a limir order on the chart to take profit at a certain price, i only ask becasue this is how tradingview does it

If it is a "netting" account, then you can have multiple "Limit" orders to have it partially close the open position at each target.

If it is a "hedging" account however, that will not work.

  • You will either have to carry out partial close at each target (either manually or using an assistant EA), or...
  • You will have to initially place multiple orders, each with a take-profit targets, producing individual positions of less volume each, so the the total net result is the same.
 
Wyatt Hampton #: where is the setting to enable netting mode? i cant find it and mines on hedging

It is not an option you can change after the fact. It is an selection that is made when you first create the account.

 
Fernando Carreiro #:

It is not an option you can change after the fact. It is an selection that is made when you first create the account.

dam, this was a prop account, but thanks for the information tho

 
Wyatt Hampton #: could this be the reason why my robot is not take partial profits?

I would not know. You did not say anything about a "robot" in your first post.

If it is coded by you, then you will have to write code to handle and adapt the method depending on whether it is a "netting" or "hedging" account.

If it is coded by someone else, then you will have to ask the developer for support.

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