FIFO Restrictions

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Hi.........one of my EAs is producing the following error

WSFR3: BUY not taken!!! - No Hedge, or FIFO restriction ...

the broker says he has no restriction at his end.......and EA provider says it is the problem with the broker having FIFO restriction. 


Any clue on how to catch on the real trouble ?

Is this the broker or is this the EA.

Thx

ckm

 
ckm Forex:

Hi.........one of my EAs is producing the following error

WSFR3: BUY not taken!!! - No Hedge, or FIFO restriction ...

the broker says he has no restriction at his end.......and EA provider says it is the problem with the broker having FIFO restriction. 


Any clue on how to catch on the real trouble ?

Is this the broker or is this the EA.

Thx

ckm

For starters, you should see "Netting" or "Hedge" atop your MT5 platform. This indicates the type of account that you have.

 
Your topic has been moved to the section: Expert Advisors and Automated Trading
Please consider which section is most appropriate — https://www.mql5.com/en/forum/172166/page6#comment_49114893
 
Ryan L Johnson #:

For starters, you should see "Netting" or "Hedge" atop your MT5 platform. This indicates the type of account that you have.

on the top it states Live - Hedging...............what does it mean ??

 
ckm Forex #: on the top it states Live - Hedging...............what does it mean ??

If you don't understand that, don't you think you should first learn the basics of trading before entrusting your money to an EA (that you probably don't even understand how it works)?

Also, if this is about a Market product or even a 3rd party product, please ask the author/creator/seller of the EA for support. The forum can only be used for general purpose discussions about products.

If however, this is an EA in the CodeBase or open source code, then provide a reference if you need help with it.

 
Fernando Carreiro #:

If you don't understand that, don't you think you should first learn the basics of trading before entrusting your money to an EA (that you probably don't even understand how it works)?

Also, if this is about a Market product or even a 3rd party product, please ask the author/creator/seller of the EA for support. The forum can only be used for general purpose discussions about products.

If however, this is an EA in the CodeBase or open source code, then provide a reference if you need help with it.

take it easy...........we are not experts of everything...........and to trade does not mean we have to be an expert of every single detail of the technology

Please be resepctful to a question.........we all learn from each others!!


the matter is just sorted out..........the EA developer has found a setting in the EA and seeems with the change it will fix now.


Thanks for your consideration!

 
ckm Forex #:

take it easy...........we are not experts of everything...........and to trade does not mean we have to be an expert of every single detail of the technology

Please be resepctful to a question.........we all learn from each others!!

the matter is just sorted out..........the EA developer has found a setting in the EA and seeems with the change it will fix now.

Thanks for your consideration!

In which way was I disrespectful?

It was a valid observation. When one lacks knowledge or experience, one needs to strengthen it, so as not to to be blind-sided.

If one does not have a good understanding of the basic principles and how to be able to trade manually to a reasonable degree, then using an EA can be very "dangerous" for your funds.

The following is an old post of mine, and even though your case is not about a scam, it is still very relevant ...

Forum on trading, automated trading systems and testing trading strategies

Tips to avoid being scammed …

Fernando Carreiro, 2022.06.07 14:40

Be it by fake agents, brokers, signals, or EAs, there is one weapon to beat them all — knowledge! Your knowledge is the key to prevent you from being scammed.

Invest and take time to improve your knowledge, to gain experience and improve your skills. Learn to do things for yourself and not to rely on others so much. You don’t have to be a master or even be very good at it, but the more you know and understand, the easier it will be for you to detect when something is not what it seems to be.

Learn how brokers work and how they are licensed and regulated. Learn about the different markets, trading conditions, types of accounts, leverage, and when you don’t understand something, ask first about it and get answers from different sources. Don’t just blindly accept things.

Learn to trade manually, even if you intend to use signals or EAs. You don’t have to be very good at it, but you need to understand all the different concepts of how orders are placed, how they are triggered, how to manage them, how to calculate and manage your risk, and all those pesky little details required to trade manually. Only then can you better evaluate the signals you wish to follow or the EAs you wish to use.

If you are going to hire someone to code your EA for you, then take some time to understand how coding works and some basic knowledge about it. Again, you don’t have to be good at it, but the more you understand, the easier it will be for you to communicate with the developer and provide valid, realistic requirement specifications and to understand how much work is involved as well as its value and how much to budget.

Also, learn to use the Strategy Tester properly and how to interpret the results. The better you understand it, and the more you use it, the easier it will be for you to evaluate the results from EAs you are considering.

So, in conclusion, don’t be a greedy idiot quick to jump onto anything “shiny”. Instead, be wise. Take your time. Invest in your knowledge and skills. Choose carefully.

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