MT5 and forward???

Thanks for information....
I still have not learned anything new....

However, I know that MT5 have a lot of features...
Maybe, I will try out the new indicators with MARKET PROFILE AND MARKET SCOPE...

Yeah, something like that.....

dont worry about switching to mt5, mt4 will always be there and only the inconsistent traders will probably switch at first. You should first worry about trading sucesffuly.

While in MT4 you need to manually workaround the FIFO rule by always explicitly finding and closing the oldest trade on your own (complicated EA logic needed) you don't have to worry about any of this in MT5. You can simply fire a buy- or sell-order out into the dark and it will figure out on its own what has to be done (which trades to close (and how many remaining lots (if any) to open in the requested direction)). You can completely forget about FIFO in MT5, it will do all this on its own.

You can even do things that were previously imposible in mt4. Consider this:

#stoploss A (1 lot)

#sell A (1 lot)


#stoploss B (2 lot)

#sell B (2 lot)


* price

This is not easily possible in a FIFO restricted MT4, even if you replace the stoplosses with buystop orders this wont work as expected. A fifo-restricted MT4 simply won't allow this, however, there is a complicated workaround for MT4 that would go like this: You would have to split up the second trade into two trades from the beginning on and then immediately rearrange all stoplosses so that it looks like this:

#stoploss B-2 (1 lot)

#sell A (1 lot)


#stoploss A (1 lot) #stoploss B-1 (1 lot)

#sell B-1 (1 lot) #sell B-2 (1 lot)


* price

This can be done by an EA but it is incredibly complicated and the EA has to be online all the time, even in fast moving markets because it has to completely rearrange *all* stops *immediately* after *every* new sellorder fill.

In MT5 you would not have to worry about any of these stupid restrictions, you could just place orders like this:

#buystop A (1 lot)

#sell A (1 lot)


#buystop B (2 lot)

#sell B (2 lot)


* price

This would automatically figure out "which" lots to close, it would simply work. You won't have to worry about FIFO at all, it will always be done automatically by the broker, all you have to do is place your orders where you want them and they will just do what they are supposed to do.

Have you heard about the 2010 MT5 competition?
Yeah, it's coming...

Any comment???

Somebody earlier have asked for my strategy.

Please look into my journal in the JOURNAL section.
I will update my journal twice a week: at the beginning of the week
and at the end of the week.

And please refrain from bad comments in my journal.
Yes, it is live account.
This means I have experience and I ain't a smart ass with all talks.
I say Ha! Ha! to all negative people.

multiple entries are a nice luxury when used correctly. Instead of opening a 1.0 position I open a 0.10 position and scale in as the currency moves my way. If I'm wrong I lose with a small lotsize and if I'm right I add-on at regular intervals with profit locked in with the prev trades. - I never assume I KNOW which way the market is going to go. I always 'test' it first with a small lotsize. Also since my first lotsize is smaller I can give that trade a lot of SL room and not be hurt if it goes south.

Your Journal has 4 posts and minimal analysis/pictures. You have a long way to go.

I ain't the best of teacher.
I will try anyway.

This way people can hopefully learn something good.