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Order size mistake protection

  • #1
  • First Post: Jan 18, 2023 3:17am Jan 18, 2023 3:17am
Hello, traders. Who can help - is there some kind of EA, indicator, or maybe some metatrader settings (a window with additional confirmation before opening an order) to protect against opening an order with excessive size. For example - instead of an order for 10 lots, trader mistakly did open an order for 100 lots?
  • #2
  • Jan 19, 2023 6:57am Jan 19, 2023 6:57am
I now that in some broker mobile applications there is a popping up window appearing everytime you place an order asking to confirm it just for you to check once again.
As per the MetaTrader itself, I've never heard of such option there.
  • #3
  • Jan 20, 2023 4:22am Jan 20, 2023 4:22am
Quoting olvus
Hello, traders. Who can help - is there some kind of EA, indicator, or maybe some metatrader settings (a window with additional confirmation before opening an order) to protect against opening an order with excessive size. For example - instead of an order for 10 lots, trader mistakly did open an order for 100 lots?
I don't know any such EA but with many brokers you can choose the max leverage.
  • #4
  • Jan 20, 2023 4:36am Jan 20, 2023 4:36am
I don't know MT5 but I know there is no such option in MT4. Not sure whether is there any way to prevent user from opening some position in MT4, even via EA. Myself I use MQL4 self written module in my EA to imidiately close any position which is not opened from my EA (so opened manually from MT4, probably by impatient trader ). Positions opened via my EA always have some magic number included. Positions opened manually does not have it, thus my EA automatically close it.
Maybe you can ask some fellow colleagues on the forum to program you something similar.
Good luck.
  • #5
  • Last Post: Jan 21, 2023 2:36am Jan 21, 2023 2:36am
Quoting olvus
Hello, traders. Who can help - is there some kind of EA, indicator, or maybe some metatrader settings (a window with additional confirmation before opening an order) to protect against opening an order with excessive size. For example - instead of an order for 10 lots, trader mistakly did open an order for 100 lots?
Quite a few (if not all) commercial Trade Manager EAs offer the option to limit the max lot size. Plenty on the mql5 site with the option to try them. You just need to find the one you like best.
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