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The basics do not work!

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Paul Anscombe
4025
Paul Anscombe 2012.07.30 12:49 

I am using a live MT5 account only to find a couple of major issues with basic execution.

 

1)  Because MT5 allows only one position to exist when you make multiple trades it works out the average entry and adjusts the opening level - well if that does not fall on a correct price structure for the security you cannot then place a stop loss order because the opening price is invalid.

 For example:  Buy 5.0 on Dax at  6700.00  Buy 5.0 more at 6700.50  and you get 10.0 at 6700.25 which is not a valid price according to security rules of point/tick size. now you cannot place a stop.

 

2)  Everytime you make a new trade for a security where there is already a position open it resets the SL and TP to 0.00

 

Both of these are major problems for the safe use of MT5 on live accounts.

 

Why do these problems exists and what is being done about them please?

Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Price Constants
Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Price Constants
  • www.mql5.com
Standard Constants, Enumerations and Structures / Indicator Constants / Price Constants - Documentation on MQL5
Rashid Umarov
Admin
11989
Rashid Umarov 2012.07.30 13:53  
MaxTrader:

I am using a live MT5 account only to find a couple of major issues with basic execution.

 

1)  Because MT5 allows only one position to exist when you make multiple trades it works out the average entry and adjusts the opening level - well if that does not fall on a correct price structure for the security you cannot then place a stop loss order because the opening price is invalid.

 For example:  Buy 5.0 on Dax at  6700.00  Buy 5.0 more at 6700.50  and you get 10.0 at 6700.25 which is not a valid price according to security rules of point/tick size. now you cannot place a stop.

Check Open Price for a position before setting new SL/TP values. What's a problem?
Rashid Umarov
Admin
11989
Rashid Umarov 2012.07.30 13:55  
MaxTrader:

2)  Everytime you make a new trade for a security where there is already a position open it resets the SL and TP to 0.00

 Both of these are major problems for the safe use of MT5 on live accounts.

 Why do these problems exists and what is being done about them please?

It seems you have a account with Market Execution, don't you. For Market Execution you cannot specify SL/TP when you Buy or Sell. You should send next order to do it.
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Symbol Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Symbol Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Environment State / Symbol Properties - Documentation on MQL5
Paul Anscombe
4025
Paul Anscombe 2012.07.30 13:59  
Rosh:
It seems you have a account with Market Execution, don't you. For Market Execution you cannot specify SL/TP when you Buy or Sell. You should send next order to do it.

You are misreading the problem chap (or I have no explained proper)

 

Order open +5.0 Dax  @ 6700.00   no SL or TP order opens fine

now

 

Order open + 5.0 Dax @ 6700.50 no SL or TP order opens fine  BUT now we have a position of +10.0 at 6700.25 which is not a valid price point.

Now try and place a SL and it just hangs. Broker says it is becuase the open price is invalid and they are trying to talk to MT guys but can't get an answer....

So the set SL/TP must be checking the validity of the open price even though the position is already open and so it fails.....

 

  

Paul Anscombe
4025
Paul Anscombe 2012.07.30 14:12  

reply from broker:

 

"MT5 has a bug with SL and TP when it averages the prices of two related positions and the new price is not a permited price, eg: 6745.25 where the only prices possible are 6745.0 or 06745.5 it does not allow for setting SL or TP. MetaQuotes, the provider of MT5 is already aware of the situation and promised to tackle the issue by the next update. "

The also tell me that the changing SL & TP to 0.00 when you place another order for a security where a position is already open is an MT5 feature - what use is that 

So if MT are going to make customers wait for next release to solve this major issue then I am done with MT5 - after all MT5 was all about single position management only and that obviously does not work properly , add on the cancelling of SL & TP if you add another order of the same security and it adds up to crap basic order handling.

 

 

 

 

Rashid Umarov
Admin
11989
Rashid Umarov 2012.07.30 14:40  
onewithzachy
2271
onewithzachy 2012.07.31 06:41  

I wish - we wish - we could do that in real life.

Buying latest Ferrari, Luxury house plus Apartment and at the same time buying used old Reliant Robin, plus low-cost-govt'-subsidize prefabricated house and the seller averaging the final sell price.

LOL - get real - the seller averaging our head first :)

(Just my wildest dreams) 

:D 

Reliant Robin - Wikipedia, the free encyclopedia
Reliant Robin - Wikipedia, the free encyclopedia
  • en.wikipedia.org
Reliant Robin Overview Manufacturer Production Assembly Body and chassis Class Body style Layout Related Powertrain Engine Transmission Dimensions Wheelbase Length Width Height Chronology Predecessor Successor The Reliant Robin is a small three-wheeled car formerly manufactured by the...
Alexey Petrov
Admin
1218
Alexey Petrov 2012.07.31 08:47  

1. We will check this issue. Can you describe in more details a situation when you cannot add SL or TP, attach a screenshot? I just checked the same situation and the problem is not reproduced. Or you can PM me the name/address of the broker server, so I can open a demo account and check myself.

2. Canceling TP/SL is a feature. When you place an order by a symbol where you already have a position, the old SL and TP are substituted in the New Order window. So just leave the old values, and they won't be changed. If you place an order with TP/SL equal zero, of course the TP/SL will be changed by the new value (0).

Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Account Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Account Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Environment State / Account Properties - Documentation on MQL5
Paul Anscombe
4025
Paul Anscombe 2012.08.03 08:54  
Alexx:

1. We will check this issue. Can you describe in more details a situation when you cannot add SL or TP, attach a screenshot? I just checked the same situation and the problem is not reproduced. Or you can PM me the name/address of the broker server, so I can open a demo account and check myself.

2. Canceling TP/SL is a feature. When you place an order by a symbol where you already have a position, the old SL and TP are substituted in the New Order window. So just leave the old values, and they won't be changed. If you place an order with TP/SL equal zero, of course the TP/SL will be changed by the new value (0).

Hi Alexx

 

okay broker is http://www.activtrades.com/

demo screen shot attached....  I first made a BUY 5.0 @ 6624.5   then a BUY 5.0 @ 6624.0   gives a net position of +10.0 @   6624.25  which is not a valid price point.

next I tried to place SL as shown in file and it just hangs there, does not place anything in the journals etc.

  

interestingly the SL I entered was 6600.0 but you will notice in the picture that when I push the button to modify it changes that value to 6599.8  which is not a valid price either.

 

Files:
Dax.png 197 kb
Alexey Petrov
Admin
1218
Alexey Petrov 2012.08.03 11:26  

Thank you for the information, we're working on it.
Paul Anscombe
4025
Paul Anscombe 2012.08.08 10:49  
Alexx:

Thank you for the information, we're working on it.

Hi  is there any update on this ?

 

 

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