MT5 a step backwards?? - page 4
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I know that example and understand it well. The solution is trivial: 1. instead of opening a buy, close the sell order. 2. instead of taking profit on buy, open a sell order.
Which is exactly the same solution I suggested and it's exactly the same solution phampton's 'Virtual Order Manager' gives. I agree it's more complicated to program this way, but it's not less profitable. The pip profit in the above example is EXACTLY the same with my solution... Which is the trivial solution so I'm not even going to call it 'mine'. It's just obvious. This example can be extended to all possible variations... The mathematical principles are the same.
You just don't get it, but best of luck to you.. you have confirmed my observation...some see it as an obvious way to make $$'s, some totally don't get it.....Study it again and again till you see the obvious...
There is good and bad news here... I can open two MT5 accounts...one for longs and one for shorts and get the same result as MT4 (only needing twice the AccountBalance() with MT5 for the same risk....The bad news is I have failed to teach/show you the obvious....my failure sorry..
Well, u don't seem to offer any explanation... Why don't u explain it? I have. Maybe it's u who doesn't "get it"?
My Account History certainly says I do get it... I'll message my phone number to you if you'd like to chat....Hedging/trading in MT4.... BOTH... buys and sells are BOTH going to close at a profit.
In MT5 they will offset and the result is ZERO...absolutely no position...no profit, nothing, zero, nada,...zippo zero....
My Account History certainly says I do get it... I'll message my phone number to you if you'd like to chat....Hedging/trading in MT4.... BOTH... buys and sells are BOTH going to close at a profit.
In MT5 they will offset and the result is ZERO...absolutely no position...no profit, nothing, zero, nada,...zippo zero....
Did u study the revised chart i posted? I suggest u study it carefully. I don't think u understand it, otherwise u wouldn't have written "In MT5 they will offset and the result is ZERO...absolutely no position...no profit, nothing, zero, nada,...zippo zero....". The chart shows how changing your example would lead to an IDENTICAL profit without opening opposite orders (or 'hedging' as u put it).
Did u study the revised chart i posted? I suggest u study it carefully. I don't think u understand it, otherwise u wouldn't have written "In MT5 they will offset and the result is ZERO...absolutely no position...no profit, nothing, zero, nada,...zippo zero....". The chart shows how changing your example would lead to an IDENTICAL profit without opening opposite orders (or 'hedging' as u put it).
When I START trading in MT4 I open a 1 Lot Buy and a 1 Lot Sell in the same currency...both long and short will BOTH be profitable. Do you understand Martingale?
In MT5 when I start trading I open a 1 Lot Buy...and then a 1 Lot Sell the result is NO POSITION..the Sell closes the Buy.....I have NO orders.....how can I possibly make money if I don't have a position??
When I start trading in MT4 I open a 1 Lot Buy and a 1 Lot Sell in the same currency
Solution:
1. Don't open anything.
2. Wait until the point where u would have closed the buy/sell according to original strategy and open 1 lot sell/buy (open opposite to what u would have closed).
3. close the sell/buy u opened at the point where u would have closed the 2nd position according to original strategy.
Result: u opened only 1 type of order, made EXACTLY the same pip profit, but only paid 1 spread instead of 2. So actually doing it with 1 type of order only is even more profitable!
Do you understand Martingale?
I understand martingale very well but this has absolutely nothing to do with martingale. Do u?
In MT5 when I start trading I open a 1 Lot Buy...and then a 1 Lot Sell the result is NO POSITION...how can I possibly make money if I don't have a position??
See my above solution. It's even better than what u r doing now since u will save 1 spread.
When I start trading in MT4 I open a 1 Lot Buy and a 1 Lot Sell in the same currency
Solution:
1. Don't open anything.
2. Wait until the point where u would have closed the buy/sell according to original strategy and open 1 lot sell/buy (open opposite to what u would have closed).
3. close the sell/buy u opened at the point where u would have closed the 2nd position according to original strategy.
Result: u opened only 1 type of order, made EXACTLY the same pip profit, but only paid 1 spread instead of 2. So actually doing it with 1 type of order only is even more profitable!
Do you understand Martingale?
I understand martingale very well but this has absolutely nothing to do with martingale. Do u?
In MT5 when I start trading I open a 1 Lot Buy...and then a 1 Lot Sell the result is NO POSITION...how can I possibly make money if I don't have a position??
See my above solution. It's even better than what u r doing now since u will save 1 spread.
MT4
OPEN 1 LOT BUY
OPEN 1 LOT SELL
THE CURRENCY GOES UP...CLOSES THE BUY AT A PROFIT
THE CURRENCY GOES DOWN...CLOSES THE SELL AT A PROFIT...
THIS IS WITHOUT ANY MARTINGALE......(IF YOU ADD MARTINGALE PROFIT SKYROCKETS...BUT FOR ILLUSTRATION WE'LL IGNORE)
MT5
OPEN 1 LOT SELL
OPEN 1 LOT BUY
THEY CANCEL...I HAVE NOTHING....
SO WITH MT4 I HAVE MADE PROFIT 2 TIMES....
WITH MT5 I WAITED FOR CURRENCY TO MOVE THEN MADE A PALTRY PROFIT ON ONE BUY OR SELL AFTER IT MOVED....BUT SAVED A SPREAD....
I'LL PAY THE SPREAD AND POCKET THE DOUBLE MT4 PROFIT EVERY TIME....
We should compare EA performance LOL.......... Your strategy doesn't have a chance LOL.... I'll gladly compete....
Oh brother, forget it. Good luck.
Gordon
With your Solution number one point above re MT5 you say WAIT Don't do anything....till it moves..
but with MT4 I'm already CLOSING my first order at a profit....and opening another larger lot martingale....before you open your first...
Give a call if you'd like to chat...If you have something that is more profitable...I'M FIRST IN LINE WITH YOU....!!!!
My experience is that Hedging makes great $$'s.... Basic hedging with MT5 is not possible.... If you'd like to compare
strategy...order for order....or....... EA vs EA.... private or public....GREAT!!... We'll both become better programmers / traders... In any case
thanks again for the discussion...Best of Good Luck to you...
PS.
I DO understand we can MIMIC hedge AFTER the initial move with MT5...but the profit is negligible compared to REAL MT4 Hedge
...you are leaving money on the table...give me a call...