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Software for easy Net Position Management?

  • #1
  • First Post: Jun 12, 2020 4:27am Jun 12, 2020 4:27am
I want to trade managing dynamically a position; be it long or short, increasing, decreasing it and reversing.
All I want to see on the chart is my net position and be able to manage my position easily.

I tried on Metatrader 4 or 5, and it is next to impossible as each order I put in is treated as a position and I even pay Swap on "positions" that have no margin (I put in five buy orders then I sold 2 and I saw swap charged on all five buys!?). That was with Demo MT4 with ActivTrades broker. They have a "SmartOrder 2" plug-in that does aggregation of all Buy and Sell, separately (?!), and has a reverse position button. That's convenient but still not enough.

Any way to get MT to allow me to easily dynamically change my position size and direction? And not display each single order but only net position?
Or any other software that allows that, making it easy to manage?

Thanks!
Practitioner of the cryptic trading arts
  • #2
  • Jun 12, 2020 5:56am Jun 12, 2020 5:56am
From my vague memory I thought on a very early version of MT5 that is what it did at the time.

That is, if you sold 0.50 lot and then later sold another 0.50, the terminal would display it as 1.00 lot short

Maybe that was to do with USA laws for FIFO, I don't know, maybe they dropped, not sure

I guess it would be handy for people that need it, good luck

MAY THE TREND BE WITH YOU
  • #3
  • Jun 12, 2020 8:04am Jun 12, 2020 8:04am
Quoting Endoephemera
I want to trade managing dynamically a position; be it long or short, increasing, decreasing it and reversing. All I want to see on the chart is my net position and be able to manage my position easily. I tried on Metatrader 4 or 5, and it is next to impossible as each order I put in is treated as a position and I even pay Swap on "positions" that have no margin (I put in five buy orders then I sold 2 and I saw swap charged on all five buys!?). That was with Demo MT4 with ActivTrades broker. They have a "SmartOrder 2" plug-in that does aggregation...
I answer myself in part; I verified MT5 does work with aggregate position and shows only the average load price for the current position, as I sought.

Do let me know of other platforms that handle position management with better immediacy and versatility.
Practitioner of the cryptic trading arts
  • #4
  • Aug 15, 2020 6:24am Aug 15, 2020 6:24am
Sounds like my Trade Manager could do what you are looking for. It's free available at my GitHub account:
https://github.com/peterthomet/MetaTrader-5-and-4-Tools
  • #5
  • Jun 6, 2021 2:17pm Jun 6, 2021 2:17pm
Quoting Retep
Sounds like my Trade Manager could do what you are looking for. It's free available at my GitHub account: https://github.com/peterthomet/MetaTrader-5-and-4-Tools
this kind of order aggregation / netting -whatever it is called- would be super cool for a trade manager. quite a while I was wondering if this functionality could be delivered for MT4? I know it is possible for MT5 but not sure for MT4.

@Retep your mt4 TM looks like discontinued. Did it have this netting function in it? Thanks
  • #6
  • Jun 21, 2021 6:33am Jun 21, 2021 6:33am
Quoting kivanc
{quote} this kind of order aggregation / netting -whatever it is called- would be super cool for a trade manager. quite a while I was wondering if this functionality could be delivered for MT4? I know it is possible for MT5 but not sure for MT4. @Retep your mt4 TM looks like discontinued. Did it have this netting function in it? Thanks
The MT4 version of the Trade Manager has a aggregated view of pairs only. Yes, since about one year I don't support MT4 anymore. I recommend to use MT5, it's simply the better platform.

The MT5 version of the Trade Manager has 3 different forms of aggregated views: By pairs, by currencies and by basket groups of currencies. By basket groups is very crucial for my trading style with multiple GBP baskets (GBP against all other currencies) during the day or week.

Inserted Video
  • #7
  • Jun 21, 2021 7:35am Jun 21, 2021 7:35am
Quoting Retep
{quote} The MT4 version of the Trade Manager has a aggregated view of pairs only. Yes, since about one year I don't support MT4 anymore. I recommend to use MT5, it's simply the better platform. The MT5 version of the Trade Manager has 3 different forms of aggregated views: By pairs, by currencies and by basket groups of currencies. By basket groups is very crucial for my trading style with multiple GBP baskets (GBP against all other currencies) during the day or week. https://www.youtube.com/watch?v=XUngix22JGs
looks cool! thanks for the reply.
would u mind sharing the compiled ex5 file here? because I couldn't compile the code I received from github. I am not much of a techie tbh
  • #8
  • Last Post: Edited 8:36am Jun 21, 2021 8:03am | Edited 8:36am
Quoting kivanc
{quote} looks cool! thanks for the reply. would u mind sharing the compiled ex5 file here? because I couldn't compile the code I received from github. I am not much of a techie tbh
Sorry, I don't post code or compiled files in this forum.
At GitHub I have created a release containing the compiled MT5 Trade Manager.

Install the dependencies (include folder) to compile it:
errordescription.mqh
CurrencyStrength.mqh
MultiPivots.mqh
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