Signals : Ask & Say Anything & Everything About MQL5 Trading Signals - page 48

[microengines]

Ok sure here are attached latest 2 journal text files that should contain the errors.

[Alain Verleyen]

microengines:

Ok sure here are attached latest 2 journal text files that should contain the errors.

The signal becomes disabled because the provider have a position on EURUSD.m1 and you don't have this symbol with your broker :

OQ    2    08:26:22    Signal    '5009525': cannot copy deal, symbol EURUSD.m1 not found
LD    3    08:26:22    Signal    '5009525': subscription disabled

I suggest you to write to ServiceDesk about that.

[microengines]

Thanks but I thought the signal system Mql5 will detect similar curreny pair stated in FAQ?

[Alain Verleyen]

microengines:
Thanks but I thought the signal system Mql5 will detect similar curreny pair stated in FAQ?

For some symbols yes, but not for all, here the suffix .m1 seems to be problematic.

[microengines]

Oh that's trouble.. Thanks for the prompt response.

[Franz Hall]

I have asked ServiceDesk about the wrong lot-size calculation of signals which cause the wipe-out of subscribers accounts.

One of the many examples is this Signal provider:

xxxxxxxxxxxxxxxxxxxxxxxxxxx .

This signal provider is trading 10 lots.

According to my balance, I should get  0.01 lot-size in my account, but the signal-software opened  0.1 lotsize  positions.

10 times too high  !!!

This caused a draw down of more than 60% in my live-account and I had to stop the signal and hedge the losing positions, otherwise

my account would have been wiped out already.

Here is the answer of ServiceDesk  ( I had written to Renat, the CEO of Metaquotes too, but he never answered )

Support Team 2013.06.19 15:07

The thing is that minimum ratio for volumes of copied trades is 0.01. That's why when the provider trades by 10 lots, you get position for 0.1 lot.

You should have been more carefull when subscribing for this signal.

In the upcoming build of terminal there will be warning message in a journal for such cases.

Here is my opinion about this:

I haven´t seen a description about a minimum ratio for volumes of copied trades.

If there is a description about it, that doesn´t help either because the lotsize calculation is the most important thing in a signal service.

If the signal-service copies trades with a lotsize  10 times too high  like Metaquotes Signals is doing it,

this is not acceptable.

One doesn´t need to be a genius in mathematics to calculate it correctly.

In my case:   signal provider trades 10 lots,  in my account the lotsize should be  0.01 lots.

It is easy.

Subscribers lose money daily because of this critical error in the Signal Service.

Metaquotes should immediately stop this misleading and wrong service and correct the wrong lot-size calculation to protect the subscribers

instead of blaming the subscribers.

[Alain Verleyen]

fxtr51:

I have asked ServiceDesk about the wrong lot-size calculation of signals which cause the wipe-out of subscribers accounts.

One of the many examples is this Signal provider:

xxxxxxxxxxxxxxxxxxxxxxxxxxx .

...

I am shared about your case. 

1° The issue of rounded ratio for volume is well documented on the FAQ :

15. What rounding scheme is used for Provider's and Subscriber's percentage ratio of deals volume?

The following step-by-step algorithm is used for percentage rounding:

1. If the value is less than 1%, it is rounded up to 1%, i.e. assumed to be 1%. Example: 0.25% => 1%
   
2. If the value is greater than 1% and less than 10%, it is rounded down to the nearest whole number. Example: 6.25% => 6%
3. If the value is more than 10% and less than 100%, it is rounded down with step of 5%. Example: 29.7% => 25%
4. If the value is more than 100% and less than 1000%, it is rounded down with step of 10%. Example: 129.6% => 120%

You can see an example of calculations in the General information on Trading Signals for MetaTrader 4 and MetaTrader 5 article.

2° This is always your responsibility if you invest your money on a signal to check how it works. There is no error, it works as described, but you don't take time to learn how it works.

3° I don't understand why there is this limitation about the ratio for volume. Here I agree with you that It would be possible to have less than 1%. Why not ?

[Franz Hall]

angevoyageur:

I am shared about your case. 

1° The issue of rounded ratio for volume is well documented on the FAQ :

2° This is always your responsibility if you invest your money on a signal to check how it works. There is no error, it works as described, but you don't take time to learn how it works.

3° I don't understand why there is this limitation about the ratio for volume. Here I agree with you that It would be possible to have less than 1%. Why not ?

Thanks, angevoyageur.

about 1:  I haven´t read that description about rounded ratio for volume. 

The blame for that is on me ( and all others who lost their accounts because of this ),

but the question remains:  Why does Metaquotes offer the Signal service with such a built in limitation which causes margin calls ?

about 2:  Yes, I trusted Metaquotes too much and didn´t study enough before I subscribed.

about 3:  The limitation makes absolutely no sense.  It is not needed, cannot be justified by any means. It contradicts logical thinking, it contradicts everything a normal human

would expect.

Calculating the appropriate lotsize for a subscriber is easy, the way Metaquotes has done it makes sense, is reasonable and well thought of and protects the subscribers money ..... and

would be perfect without the limitation.

The only limit which makes sense is the Minimum Lot Size allowed in the subscriber´s account.

That parameter is available in the terminal , there is a function to get the value.

If minimum allowed lotsize = 0.01   and  the calculated lotsize of the signal would be less than that, a warning must appear and an option to not copying the signal or to

take the miminum lotsize then.

The CEO of Metaquotes does not listen, maybe he is on vacations.

Service Desk is blaming the subscriber.

How can we change this policy of metaquotes ?

[Alain Verleyen]

fxtr51:

Thanks, angevoyageur.

about 1:  I haven´t read that description about rounded ratio for volume. 

The blame for that is on me ( and all others who lost their accounts because of this ),

but the question remains:  Why does Metaquotes offer the Signal service with such a built in limitation which causes margin calls ?

about 2:  Yes, I trusted Metaquotes too much and didn´t study enough before I subscribed.

about 3:  The limitation makes absolutely no sense.  It is not needed, cannot be justified by any means. It contradicts logical thinking, it contradicts everything a normal human

would expect.

Calculating the appropriate lotsize for a subscriber is easy, the way Metaquotes has done it makes sense, is reasonable and well thought of and protects the subscribers money ..... and

would be perfect without the limitation.

The only limit which makes sense is the Minimum Lot Size allowed in the subscriber´s account.

That parameter is available in the terminal , there is a function to get the value.

If minimum allowed lotsize = 0.01   and  the calculated lotsize of the signal would be less than that, a warning must appear and an option to not copying the signal or to

take the miminum lotsize then.

The CEO of Metaquotes does not listen, maybe he is on vacations.

Service Desk is blaming the subscriber.

How can we change this policy of metaquotes ?

I agree with your point 3. Maybe you are lacking some informations about the reason this limitation exists. I suggest you to ask to ServiceDesk, why this limitation exists. In my opinion the first thing to do is to understand this limitation, then if there is no good reason we can expect some changes.

Most requests I see from subscriber is "How to have bigger lot size", this is the first time I see someone complains about "How to have smaller lot". Your problem is also only probably possible with a demo-account provider, I have warned several times on this forum to not invest real money on a signal based on a demo-account. Possibly Metaquotes doesn't have yet considered this situation. I don't know.

[Franz Hall]

angevoyageur:

I agree with your point 3. Maybe you are lacking some informations about the reason this limitation exists. I suggest you to ask to ServiceDesk, why this limitation exists. In my opinion the first thing to do is to understand this limitation, then if there is no good reason we can expect some changes.

Most requests I see from subscriber is "How to have bigger lot size", this is the first time I see someone complains about "How to have smaller lot". Your problem is also only probably possible with a demo-account provider, I have warned several times on this forum to not invest real money on a signal based on a demo-account. Possibly Metaquotes doesn't have yet considered this situation. I don't know.

I opened a new ticket on Service Desk.

The problem has nothing to do with Demo-account or Real account, that does not matter because the minimum lot-size is defined by the broker, it exists in demo accounts as well as

in real money accounts.

There is another problem here.

The signal provider is listed in  the section of  real accounts ( = real live accounts with real money ),

but truth is that the account of the signal provider is a demo account.  I have given the link for the signal provider but somehow somebody deleted it in my posting.

How come that a demo account signal provider is listed under real accounts  ?

He charges $38 monthly for his demo-account signal and as I mentioned before, other subscribers testified they lost their money due to the lotsize calculation.

Anyhow, there is no special reason for this limitation on the lotsize calculation. Somebody thought it would be cool, did not think about the consequences for subscribers

and implemented it.

It can be changed easily.

I am a programmer, I have coded EAs and indicators and my EA´s calculate the lot-size according to risk percent  etc.

Every coder includes a check for the minimum and maximum allowed lot-size of the broker because a wrong lotsize results in an order send error.

Here is a code snippet from my own code in the lotsize-calculation function

        double MinLots = MarketInfo(Symbol(), MODE_MINLOT);
        double MaxLots = MarketInfo(Symbol(), MODE_MAXLOT);

        if (LotSize < MinLots) {LotSize = MinLots; /*Alert("Min/Max-Lotsize overruled");*/}
        if (LotSize > MaxLots) {LotSize = MaxLots; /*Alert("Min/Max-Lotsize overruled");*/}
        return(LotSize);

Since the CEO does not answer my message to him, the only place to go is Service Desk.

I hope they will consider to make this simple change which will prevent more subscribers losing their accounts.