Adding to position - page 2
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I was understanding that you said you will get better results with one platform (or other). But I affirm you will get the same results. Probably just a misunderstanding.
False !
You can get the exact same results. But the way to get it is different.
Trading with MT4 or MT5 is very different, but if you apply the same strategy you will get the same results. Some strategy are more easy to realize with MT4, some others with MT5.
Applying various trading styles (hedging...) with MT5
I realize I can get the same results by using pending orders. Been there done that. I must then have code that cancel the opposite pending order. (No OCO). That has caused me some problems with pending orders not being deleted
or orders where TP or SL pending orders are missing. ("Loose cannons"). So for now I just place one order with SL and TP specified from the start. My question really is what happens if I place 2 orders exactly as I would do in MT4 with SL and TP specified in order to scale out
I realize I can get the same results by using pending orders. Been there done that. I must then have code that cancel the opposite pending order. (No OCO). That has caused me some problems with pending orders not being deleted
or orders where TP or SL pending orders are missing. ("Loose cannons"). So for now I just place one order with SL and TP specified from the start. My question really is what happens if I place 2 orders exactly as I would do in MT4 with SL and TP specified in order to scale out
Of course, it's more complicated with mql5 to do that, but it feasible if you know the techniques. The only difference is you have to deal that at the terminal with MT5 (No OCO as you said), and not at broker server as with a SL/TP on mql4. If your strategy is based on several trades with their own SL/TP, it's a lot more easy to do it in mql4 and you should have very good reason(s) to implement it with mql5, as it involves a lot of additional work.
You can't place 2 orders with SL/TP as with mql4. The position will be averaged (you know that already), and the SL/TP of the second order will become the SL/TP of the averaged position. There is no way to set this SL/TP to get exactly the same result as in mql4. The problem being that you can't use any price, for example the averaged SL could be 1.37187275 and you can't use such price.
Of course, it's more complicated with mql5 to do that, but it feasible if you know the techniques. The only difference is you have to deal that at the terminal with MT5 (No OCO as you said), and not at broker server as with a SL/TP on mql4. If your strategy is based on several trades with their own SL/TP, it's a lot more easy to do it in mql4 and you should have very good reason(s) to implement it with mql5, as it involves a lot of additional work.
You can't place 2 orders with SL/TP as with mql4. The position will be averaged (you know that already), and the SL/TP of the second order will become the SL/TP of the averaged position. There is no way to set this SL/TP to get exactly the same result as in mql4. The problem being that you can't use any price, for example the averaged SL could be 1.37187275 and you can't use such price.
Thanks angevoyageur.
I will continue work on MT5 with one position. When I am happy with it I will continue porting it to MT4 and add the scaling out