oco trades

[Hookway]

Hello All

I am long and short the same trade USD/EUR at the same time, for the same amount.

Is it correct to say on MT5, ones doesn't cancels the other order?

At another broker, the 2 trades would cancel one another out, is that not the case on MT5?

Please let me know

[ComplianceDesk]

Hookway:

Hello All

I am long and short the same trade USD/EUR at the same time, for the same amount.

Is it correct to say on MT5, ones doesn't cancels the other order?

At another broker, the 2 trades would cancel one another out, is that not the case on MT5?

Please let me know

If hedging is enabled on your platform, then the short will not cancel out the long.  

Account Properties

To obtain information about the current account there are several functions: AccountInfoInteger(), AccountInfoDouble() and AccountInfoString(). The function parameter values can accept values from the corresponding ENUM_ACCOUNT_INFO enumerations.

For the function AccountInfoInteger()

ENUM_ACCOUNT_INFO_INTEGER

Identifier	Description	Type
ACCOUNT_LOGIN	Account number	long
ACCOUNT_TRADE_MODE	Account trade mode	ENUM_ACCOUNT_TRADE_MODE
ACCOUNT_LEVERAGE	Account leverage	long
ACCOUNT_LIMIT_ORDERS	Maximum allowed number of active pending orders	int
ACCOUNT_MARGIN_SO_MODE	Mode for setting the minimal allowed margin	ENUM_ACCOUNT_STOPOUT_MODE
ACCOUNT_TRADE_ALLOWED	Allowed trade for the current account	bool
ACCOUNT_TRADE_EXPERT	Allowed trade for an Expert Advisor	bool
ACCOUNT_MARGIN_MODE	Margin calculation mode	ENUM_ACCOUNT_MARGIN_MODE
ACCOUNT_CURRENCY_DIGITS	The number of decimal places in the account currency, which are required for an accurate display of trading results	int
ACCOUNT_FIFO_CLOSE	An indication showing that positions can only be closed by FIFO rule. If the property value is set to true, then each symbol positions will be closed in the same order, in which they are opened, starting with the oldest one. In case of an attempt to close positions in a different order, the trader will receive an appropriate error.   For accounts with the non- hedging position accounting mode (ACCOUNT_MARGIN_MODE!=ACCOUNT_MARGIN_MODE_RETAIL_ HEDGING ), the property value is always false.	bool
ACCOUNT_HEDGE_ALLOWED	Allowed opposite positions on a single symbol

Check to see what your  ACCOUNT_FIFO_CLOSE and  ACCOUNT_HEDGE_ALLOWED are set to on the broker you are using ... a long can cancel a short of the same lot size --OR-- both the long and the short can exist simultaneously ... depends on the settings you choose (or the broker chose for you) when you opened up the brokerage account.  Some countries don't allow true hedging (long and short at the same time on e.g. the same currency pair), as I understand.

run this code to find out:

   // get the current state of the trading terminal regarding its ability to hedge with long and short of the same e.g. currency pair

bool fifo_BOOL = (bool)AccountInfoInteger(ACCOUNT_FIFO_CLOSE);

bool hedgeAllowed_BOOL = (bool)AccountInfoInteger(ACCOUNT_HEDGE_ALLOWED);

[Hookway]

Thank you for these details!