Canadian traders, u guys are seriously lucky with taxes 10 replies
How to Access your Metatrader Platform MT4/MT5 Remotely 5 replies
Reliable and Stable Broker with MT5 platform 3 replies
Seriously, how I can GBP/USD go, is anything possible? 1 reply
Seriously, do forex systems have to be so complex? 11 replies
DislikedLook I'm not going to close my profitable GBPJPY short for you or anyone. That's exactly where loss begins. I'm forced to do an extra trade AND be there when it happens. Typically on hourly reversals I just implement a trailing stop. With your system I have to sit there all day then reenter my original short trade.Ignored
DislikedWhat's really funny is a guy claiming that I should exit a profitable short trade, then stay beside the terminal up all day and night and pay commission to reenter. IS that some new form of slavery? You sound like a typical USA sellout peddling your new fishbowl retail FOREX as the new reality. Right up there with that shill Donald J. Boudreaux who declared insider trading a good thing last week. Obviously there is an USA movement underway to make a Disneyland retail FOREX.
I can go outside and transact a long and short trade right on the street....Ignored
DislikedNo they're not equal in MT4, because I'm not setting SL or TP in any normal bar range. The market is headed down and it's may be a continuation trade with several daily bullish countertrades along the way. It sounds like that is way over your head.Ignored
DislikedThe system is the same. To trade in MT5 you don't have to change the system. In fact, in the given example (you go SHORT on long-term and enter several counter-trend LONG positions during the course) you don't need to have to change anything at all.Ignored
Disliked7bit did prove it to me theoretically....
So yes I have been reliant upon the multi position system of MT4 for parts of my trading. Not as much as first thought. And as shown above this means that my system / strategy cannot be mirrored in its entirety in MT5.Ignored
DislikedThis in the end makes the two platforms equal in trade size (spread or commission) and profit.
I just find that I have to change my thinking from counter trend to trend and positon sizing.Ignored
DislikedIn the MT4 martingale systems, a stop loss was often never used. Instead a counter trade was used to hedge the drawdown...
However, these systems are really a betting system, where direction of trade is not being predicted, but rather average size of uptrends and downtrends are being assumed. Hence if price turns around in the middle it really does not make a diffference. However, in MT5 because only one direction is covered, if direction changes this will mean there is need for closure and re-opening.Ignored
DislikedI would think it impossible to operate a grid in MT5 as you're forced into a unidirectional stance and a single cycle size. So the result is a martingale management system where one hopes the trend isn't too large. The "neutral position" is also a function of timescale. The only probable outcome is a blown account.
You can set up two accounts. like IBFX. But at least with my broker the market spikes and their transfer system is offline until 3 hours after market open on Sunday. So no amount of diligence can keep you safe.Ignored
DislikedIt's actually possible to operate the grid strategy in MT5. Right now, it would be very difficult to do, but with a certain automation (and such scripts will appear soon), it's possible with the same profit/loss result as in MT4.Ignored
QuoteDislikedyes , if you assume that you can hedge, i was assuming that we do not hedge and respect NFA rules
DislikedI would think it impossible to operate a grid in MT5 as you're forced into a unidirectionalIgnored
DislikedSince everything you could possibly do in MT4 can (and and actually will) be mapped to the one-position-system it simply can not be impossible.Ignored
DislikedAn automated grid system is usually reliant upon a set t/p, but not necessarily the same size for each individualised position in MT4. So closing orders early would be a real hindrance.Ignored
DislikedAn automated grid system is usually reliant upon a set t/p, but not necessarily the same size for each individualised position in MT4. So closing orders early would be a real hindrance.Ignored
DislikedHowever, to represent the overall value accurately I think that this may be more accurate.
Profit/Loss = (abs(L1+...+Ln) + abs(S1+...+Sk)) - (n+k)Sp
Profit/Loss = x - (n+k)Sp
L is long position
S is short position-
Sp is spread
k the number of shorts
n the number of longsIgnored
DislikedGrid systems can be complicated so simulate mentally in the head and still be able to compare them and see why they are equal, thats why i prefer smaller and simpler examples.
... one of our basic assumptions was wrong.Ignored
DislikedI have an MT4 -> Oanda bridge here that will translate any trading activity done by MT4 expert advisors or manual trading, even many different EAs at the same time on the same pair, hedging, non-FIFO and everything into the Oanda one position system by doing nothing else than constantly summing up all MT4 trades and deciding how to change the oanda position (buy/sell) to always hold it at the same net position that was calculated for MT4. It simply works!Ignored
DislikedI program yet I see no way to do it without hedging. Seeing a hedge-less script that grids without martingaling would be an eye-opener. Until I hear of someone doing it I'll assume it's vaporware. Most MT4 grids scripts already have severe deficiencies. Unless there's a perfect holy grail indicator, errors will compound and losses will grow exponentially. MT5 NFA adds nothing of value. It is obviously a kludge to enrich brokers at the expense of traders.Ignored
Dislikeda grid system is likely to fail due to the consistent amounts of spread or small loss overwhelming the trade size.
But this is the result of needing to change position in a one position system like MT5, unlike MT4 where spread would only be paid twice to cover.Ignored