Discussion of article "How to Subscribe to Trading Signals" - page 117
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Yes, I have Xauusd+. The subscriber only has Xauusd. Am I right that copying is not possible in this case?
https://www.mql5.com/en/forum/10773#q13
https://www.mql5.com/en/forum/311109#comment_11375302
https://www.mql5.com/en/forum/292340#comment_9504099
Regarding the well-known problem with "no conversion rate for the deposit currency of provider" (when the subscriber's broker has no currency pair between the provider's and the subscriber's base currencies): I found that (at least on MT5) not only 1:1 ratio is used as the message says (which luckily is fine in my case), but also there's a large delay between a new deal coming from the signal and it being forwarded to the broker. In my case, it's 1.1 seconds in a MQL5 VPS, and similar on my computer. For the signal in question, this makes for a huge difference as the price moves rapidly just this very second (probably a lot of other automated trading occurs the same moment at my broker or their liquidity provider, moving the price). I don't know why exactly the delay - my guess is MT5 may be requesting a fresh symbol list from the broker before proceeding with the deal, only to conclude there's still no conversion rate (it logs a message saying so, delayed by this 1.1 seconds).
So I am looking for a way to avoid this delay. I've tried creating a custom symbol for the missing currency pair, but it isn't getting picked up by this logic (not even when subscribing to the signal locally on my computer, without VPS usage).
My next step is to contact my broker, but I doubt they'd be willing to create a symbol for a currency pair they don't really have an exact equivalent of.
Any other suggestions?
In my case, the signal provider's base currency is UST (for USDT), which my broker does not have. If any MT5 developers read this, please add a way to specify the conversion rate manually (ideally also usable even for currency pairs that do exist, as a manual override), or at least add UST as a recognized synonym for USD. Maybe also remove the (presumed) request for a fresh symbol list when a deal is opened (only do it once when just starting to follow a signal, or periodically, but not again at these most time-critical moments). Thanks!
Regarding the well-known problem with "no conversion rate for the deposit currency of provider" (when the subscriber's broker has no currency pair between the provider's and the subscriber's base currencies): I found that (at least on MT5) not only 1:1 ratio is used as the message says (which luckily is fine in my case), but also there's a large delay between a new deal coming from the signal and it being forwarded to the broker. In my case, it's 1.1 seconds in a MQL5 VPS, and similar on my computer. For the signal in question, this makes for a huge difference as the price moves rapidly just this very second (probably a lot of other automated trading occurs the same moment at my broker or their liquidity provider, moving the price). I don't know why exactly the delay - my guess is MT5 may be requesting a fresh symbol list from the broker before proceeding with the deal, only to conclude there's still no conversion rate (it logs a message saying so, delayed by this 1.1 seconds).
So I am looking for a way to avoid this delay. I've tried creating a custom symbol for the missing currency pair, but it isn't getting picked up by this logic (not even when subscribing to the signal locally on my computer, without VPS usage).
My next step is to contact my broker, but I doubt they'd be willing to create a symbol for a currency pair they don't really have an exact equivalent of.
Any other suggestions?
In my case, the signal provider's base currency is UST (for USDT), which my broker does not have. If any MT5 developers read this, please add a way to specify the conversion rate manually (ideally also usable even for currency pairs that do exist, as a manual override), or at least add UST as a recognized synonym for USD. Maybe also remove the (presumed) request for a fresh symbol list when a deal is opened (only do it once when just starting to follow a signal, or periodically, but not again at these most time-critical moments). Thanks!
Your signal subscription is copying deals from a symbol your broker doesn't have ?
Honestly I didn't understand anything in your post.
Your signal subscription is copying deals from a symbol your broker doesn't have ?
Honestly I didn't understand anything in your post.
@Alain Verleyen I only saw your reply now, hopefully tagging you will make you see mine quicker. Sorry for the confusion and thank you for trying to understand. Let me try and explain:
No, the signal subscription is not copying deals from symbols my broker doesn't have. This post isn't about symbols used in deals.
I am talking about account currencies - signal provider's vs. subscriber's. In my case, the signal provider uses Bybit and their account currency is UST. My broker doesn't have any currency pair with UST, and doesn't have accounts in UST (it does in USD). My account currency is AUD (but could as well be USD - we'd still have the same problem with delay).
What happens is MT5 (both local terminal and MQL5 VPS behave the same) tries and fails to lookup a conversion rate for the account currencies in order to determine position size scaling. It does this when starting to follow a signal, repeats once in a while, and also does it each time the signal provider makes a new deal, before forwarding this deal to my broker. That's understandable - it really wants to ensure the right size for the trade - but in this case it's always failing anyway, causing unnecessary delay in copying and greatly affecting profitability of some strategies (in particular, from a certain EA very popular with signal providers, as well as with breakout strategies where the price moves greatly this very second).
As known and documented, when account currency mapping fails like this, the platform falls back to 1:1 ratio between the currencies. This means moderate risk (and reward) increase for me with AUD, which I'm fine with in this case. So my primary issue is with the delay, and secondary with not being able to specify the conversion rate manually (which would also solve the delay problem, so would be a great solution for both issues at once).
@Alain Verleyen I only saw your reply now, hopefully tagging you will make you see mine quicker. Sorry for the confusion and thank you for trying to understand. Let me try and explain:
No, the signal subscription is not copying deals from symbols my broker doesn't have. This post isn't about symbols used in deals.
I am talking about account currencies - signal provider's vs. subscriber's. In my case, the signal provider uses Bybit and their account currency is UST. My broker doesn't have any currency pair with UST, and doesn't have accounts in UST (it does in USD). My account currency is AUD (but could as well be USD - we'd still have the same problem with delay).
What happens is MT5 (both local terminal and MQL5 VPS behave the same) tries and fails to lookup a conversion rate for the account currencies in order to determine position size scaling. It does this when starting to follow a signal, repeats once in a while, and also does it each time the signal provider makes a new deal, before forwarding this deal to my broker. That's understandable - it really wants to ensure the right size for the trade - but in this case it's always failing anyway, causing unnecessary delay in copying and greatly affecting profitability of some strategies (in particular, from a certain EA very popular with signal providers, as well as with breakout strategies where the price moves greatly this very second).
As known and documented, when account currency mapping fails like this, the platform falls back to 1:1 ratio between the currencies. This means moderate risk (and reward) increase for me with AUD, which I'm fine with in this case. So my primary issue is with the delay, and secondary with not being able to specify the conversion rate manually (which would also solve the delay problem, so would be a great solution for both issues at once).
Please provide the logs to support what you reported. Thanks.
@Alain Verleyen Here's a log excerpt from an MQL5 VPS. I redacted my account number and omitted some irrelevant lines. Note the 1.1 seconds delay between 08:07:53.297 and 08:07:54.398 (where it hurt since a deal was being processed), and the exact same delay having been seen before between 04:10:43.808 and 04:10:44.908 (where it did not matter since it was merely after a reconnect to the trade server). So it appears that the same slow operation is attempted in both cases. This specific excerpt is from 20260302.log, which I chose since there was a VPS restart on that date, to show you the terminal build number. However, the same issue occurred with older builds as well, and kept occurring in the following days.
@Alain Verleyen Here's a log excerpt from an MQL5 VPS. I redacted my account number and omitted some irrelevant lines. Note the 1.1 seconds delay between 08:07:53.297 and 08:07:54.398 (where it hurt since a deal was being processed), and the exact same delay having been seen before between 04:10:43.808 and 04:10:44.908 (where it did not matter since it was merely after a reconnect to the trade server). So it appears that the same slow operation is attempted in both cases. This specific excerpt is from 20260302.log, which I chose since there was a VPS restart on that date, to show you the terminal build number. However, the same issue occurred with older builds as well, and kept occurring in the following days.
Thanks. This delay should be removed from build 5676. Please confirm as I can't test myself.