Is it not possible to set separate take-profit levels on MT4? | Forex Factory

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Is it not possible to set separate take-profit levels on MT4?

  • #1
  • First Post: Feb 12, 2015 5:55pm Feb 12, 2015 5:55pm
Basically I placed a short order on a pair yesterday. Today I placed another short order on the same pair. I would like to set a separate take-profit level for yesterday's order (+80 pips for example) and leave today's order running for a larger tp level. It seems every time I try to do this the take-profit line moves for both orders at the same time even though I selected only yesterday's order. Is there a way to assign different tp levels for different orders but on the same pair? I realize there is a rule that says the oldest order has to be closed first which is why I'm trying to set a larger tp level for the newest order.
Thank you for your help.
  • #2
  • Feb 12, 2015 6:10pm Feb 12, 2015 6:10pm
FIFO rule : first in, first out ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Feb 12, 2015 7:03pm Feb 12, 2015 7:03pm
Quoting FerruFx
FIFO rule : first in, first out ...
Which is why I'm trying to close the earliest order first. But it seems I cannot do this without automatically setting the same tp level for all orders, thereby causing all orders to close at the same time
  • #4
  • Feb 12, 2015 7:08pm Feb 12, 2015 7:08pm
Quoting Trenderer
{quote} Which is why I'm trying to close the earliest order first. But it seems I cannot do this without automatically setting the same tp level for all orders
I asked FXCM the same question. They blamed it on the MT4 platform but that's not true or they modified their MT4 platform. Oanda's MT4 platform allows separate targets for separate entries as long as you have the correct FIFO per the U.S. rules.
  • #5
  • Feb 12, 2015 7:47pm Feb 12, 2015 7:47pm
Try this link for your MT4 if that's what you're using??? Don't know if it works but I remember the the conversation thread. SRT is correct about Oanda. Used them way back and this was not an issue. Not a fan of any MT4 brokers for the record.

Quoting Trenderer
Basically I placed a short order on a pair yesterday. Today I placed another short order on the same pair. I would like to set a separate take-profit level for yesterday's order (+80 pips for example) and leave today's order running for a larger tp level. It seems every time I try to do this the take-profit line moves for both orders at the same time even though I selected only yesterday's order. Is there a way to assign different tp levels for different orders but on the same pair? I realize there is a rule that says the oldest order has to be...
SPC * Swollen PocketZ Crew!
  • #6
  • Feb 12, 2015 9:35pm Feb 12, 2015 9:35pm
Quoting JoeNY
Try this link for your MT4 if that's what you're using??? Don't know if it works but I remember the the conversation thread. SRT is correct about Oanda. Used them way back and this was not an issue. Not a fan of any MT4 brokers for the record. {quote}
Thanks guys, it seems the solution lies somewhere with these "OCO" orders, I will check tomorrow when I have more time. It sucks that FXCM's mt4 doesn't let you do this
  • #7
  • Last Post: Feb 13, 2015 1:33am Feb 13, 2015 1:33am
What you want to do is place an entry order to buy at the price you want, and put in the exact lot size as your original trade. When price hits that order, your original order will cancel out and leave the newer one floating. I don't think this will work in countries that allow hedging, but I live in the USA and I use FXCM. NET stops and NET limits will close out everything.
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