Prevent opening of large orders on MT4? Volume limit on trades | Forex Factory

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Prevent opening of large orders on MT4? Volume limit on trades

  • #1
  • First Post: Edited Feb 1, 2014 3:54pm Jan 30, 2014 3:31pm | Edited Feb 1, 2014 3:54pm
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  • #2
  • Jan 30, 2014 3:44pm Jan 30, 2014 3:44pm
You could use an EA to do the trade; EAs are configurable at start, so you put inthere your lot size. The EA then would check against the limit and act as desired.
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  • #3
  • Edited 6:45pm Jan 30, 2014 6:10pm | Edited 6:45pm
Tools > Options > Trades tab ... then set your default size to whatever you need.

So if you forgot to set a lot size, it will open with this default.
MT4/MT5 EAs/Indicators/Alerts coder
  • #4
  • Jan 30, 2014 6:27pm Jan 30, 2014 6:27pm
Quoting feline207
Hello, I have a silly issue, but it really bothers me, because it could cause potentially large financial damage to me. When I trade, sometimes i have made mistakes in the volume of opened orders. say i opened 10 lots instead of 0.1 and then have to close the wrong trade with some loss. Is there any way to restrict the mt4 platform to some sort of uper limit of volume per order opened, that i can manually set? I seriously doubt that there is such thing, but it would be smart, because once in a while it saves a lot of $ wrongly spent. Thank you,...


Go to Tools->Options->Trades Tab and change the default value to whatever you want.It will open trades in a default Lot size.I hope this helps.
  • #5
  • Jan 31, 2014 3:43am Jan 31, 2014 3:43am
Hello my friends, thank you very much for your good suggestions, however i allocate different ammounts to different trades, so my lotsize is not constant. I just have an absolute upper limit that is suitable for account size, so i do not want to accidently go above it. It is not a disaster, but sometimes it erases large part of my profits and it is really pissing me off. So is there any other possibility to solve the problem? Perhaps some script or EA? Thank you for your time.
  • #6
  • Jan 31, 2014 3:47am Jan 31, 2014 3:47am
Quoting rockit
You could use an EA to do the trade; EAs are configurable at start, so you put inthere your lot size. The EA then would check against the limit and act as desired.
That is close to what i want. I believe in manual trading and operate only by myself, but an EA that checks my lotsize and 'rejects' any volume above the set maximum limit, that would be beautiful if it exists!
  • #7
  • Jan 31, 2014 3:49am Jan 31, 2014 3:49am
Quoting feline207
Hello my friends, thank you very much for your good suggestions, however i allocate different ammounts to different trades, so my lotsize is not constant. I just have an absolute upper limit that is suitable for account size, so i do not want to accidently go above it. It is not a disaster, but sometimes it erases large part of my profits and it is really pissing me off. So is there any other possibility to solve the problem? Perhaps some script or EA? Thank you for your time.
Anyway, set your limit in the platform options or in a script is the exact same thing. You will have to set your lot size ... if you forgot, in both cases the position will take your limit.
MT4/MT5 EAs/Indicators/Alerts coder
  • #8
  • Jan 31, 2014 3:53am Jan 31, 2014 3:53am
Quoting FerruFx
{quote} Anyway, set your limit in the platform options or in a script is the exact same thing. You will have to set your lot size ... if you forgot, in both cases the position will take your limit.
Ferru, i understand but the problem is i do not forget, but mistype the ammount, since i dial fast, sometimes i put lets say 1.0 instead of 0.1. In that case, how could i prevent the order from openning? I need some external ''braking" and ''preventing". I am trading small ammounts, and if that happens with larger volumes, i would have to cut my head off..
  • #9
  • Jan 31, 2014 4:13am Jan 31, 2014 4:13am
Quoting feline207
{quote} That is close to what i want. I believe in manual trading and operate only by myself, but an EA that checks my lotsize and 'rejects' any volume above the set maximum limit, that would be beautiful if it exists!
Make an expert from this code below (ignore warnings).
It is just a proof of concept, it does not open any trades, only print a message.
When you drag the expert to a window (or assign a hotkey for compfort), the open dialog of the expert will appear;
switch to the "input" pane; put in your lot instead of the number (which in this case is also the limit).
If you put in a bigger number than the limit, the expert will alert "lot too big". Otherwise it will not complain.
Then the expert will remove itself.
Inserted Code
#define MT4_WMCMD_REMOVE_EXPERT        33050
#define WM_COMMAND                    0x0111

#import "user32.dll"
    int PostMessageA(int, int, int, int);
#import

extern double lot = 0.01;

#define MAXLOT 0.01

void init()
{
    if(lot > MAXLOT) {
        Alert("lot too big...");
    }
    PostMessageA(WindowHandle(Symbol(), Period()), WM_COMMAND, MT4_WMCMD_REMOVE_EXPERT, 0);
}


//
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  • #10
  • Jan 31, 2014 4:56am Jan 31, 2014 4:56am
Quoting rockit
{quote} Make an expert from this code below (ignore warnings). It is just a proof of concept, it does not open any trades, only print a message. When you drag the expert to a window (or assign a hotkey for compfort), the open dialog of the expert will appear; switch to the "input" pane; put in your lot instead of the number (which in this case is also the limit). If you put in a bigger number than the limit, the expert will alert "lot too big". Otherwise it will not complain. Then the expert will remove itself. #define MT4_WMCMD_REMOVE_EXPERT 33050...
thanks rockit , i must admit that i do not understan mt coding and am very inexperienced regarding that, what is it supposed to do ? Does it alert me after i have placed the trade or while i am entering the lotsize? I am openning trades from the new trade window ontop of the chart, if it helps. I know how to compile and attach it, but do not understand its exact function and since i am going to use it live, perhaps i should clear the concept.
  • #11
  • Jan 31, 2014 5:23am Jan 31, 2014 5:23am
Quoting feline207
{quote} thanks rockit , i must admit that i do not understan mt coding and am very inexperienced regarding that
I see.
Well, this is most unfortunate, because the key to use MT4 effectively is to know how to program it.
Anyway, in the scenario above you would not use the standard order dialogue anymore, but the expert's. The expert would perform the sanity check, and, if passed, would perform the trade for you.

Now, I propose you to look at 'trade managers'; I think there are several trade management codes here on FF (do the search), possibly one of those can serve your need by default. Otherwise you could ask the author if he can tweak it to check against a maximum lot size that should not be crossed by accident.
Good luck.
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  • #12
  • May 24, 2015 8:49pm May 24, 2015 8:49pm
i tried putting the above code in experts and compiled it, but it doesn't work, anyone else tried this with success?
bit . ly/fantestimonials
  • #13
  • Oct 4, 2017 2:15am Oct 4, 2017 2:15am
Much thanks for your great proposals, nonetheless I dispense diverse adds up to various exchanges, so my lot size isn't consistent. I simply have a flat out maximum breaking point that is appropriate for account size, so I would prefer not to unintentionally go above it. It isn't a catastrophe, yet sometimes it deletes substantial piece of my benefits and it is truly irritating me. So is there some other plausibility to take care of the issue? Maybe some content or EA? Much thanks to you for your time.
  • #14
  • Last Post: Feb 23, 2023 1:10pm Feb 23, 2023 1:10pm
Was anyone able to find a solution to this? I see a need for this as well. Thank you!

I am aware that based on the broker of choice, there will be a max number of lots that can be opened per position. In my case, that is set to 100 lots per position.
Is there a mt4/mt5 optionality to set 100 lots as the max limit across all positions? Ideally, this would help prevent opening any more positions even if I did attempt to hit the buy/sell button?
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