Good morning everyone,
I am pretty new to MT and after failed attempts to find an answer to my question on the web, I decided to ask directly where the experts are likely to be...
When you place several buy/sell limit for a single currency pair, MT5 seems to merge the trades. how does it work?
For example, if we take the USD/CAD pair. I want to place the following buy limit:
1) Price: 1.2740, SL: 1.2700, TP: 1.2800, 1 mini lot
2) Price: 1.2735, SL: 1.2700, TP: 1.2800, 1 mini lot
3) Price: 1.2730, SL: 1.2700, TP: 1.2800, 1 mini lot
4) Price: 1.2725, SL: 1.2700, TP: 1.2800, 1 mini lot
5) Price: 1.2720, SL: 1.2700, TP: 1.2800, 1 mini lot
Let's assume that the price goes down all the way to 1.2715. All my Buy Limit should have been triggered (and that works, I tested it).
Now, let's assume that the price goes all the way back to 1.2800 (my TP for all of them). What should be my profit? If I add up all the 5 Buy Limit, I should be getting 60+65+70+75+80=350 Pips. Is that the case?
When I tested it, all my Buy Limit became a single order. I am not sure how to calculate my total pip win. How does MT5 works when it merges all my trades like that? Is there a way to force the different trades to stay separate?
PS: and if I put different TP levels, would it work?
You must request hedging on your account and then all orders of the same pair will be shown separately. I also figured that out this week. You can request it from the chat help or if you log onto your account there is a button to request hedging, or by email.
There may be times when you don't want hedging e.g. when you are adding more and more orders and chasing a trend as it could get messy. But for one or two orders having hedging enabled is great.
BTW the chat line support guys are really useful for things like this.