Fix FIFO Rules...it is broken and unacceptable. I cannot continue trading on this platform with these rules broken

[Matt E]

The FIFO rule ONLY applies to the SAME pair AND SAME lot size. 

However, in MT 4 and 5, it only looks at pair and NOT lot size to enforce the FIFO rule.

This is wrong, and IMO means your product is simply broken and should NOT be used by anyone in the US. 

I am switching to a platform that actually uses the FIFO rules as they are written and NOT their own more severe interpretation which makes absolutely no sense and is simply wrong.

It's unacceptable and I don't know why this has not been fixed in the many years since the rule has come out.

FIX IT! Or I am out and anyone in the US should be as well, this should not be a hard fix, unless this has been designed poorly and the code is spaghetti code and then that would explain the issue(coming from a senior software engineer).

[William Roeder]

Matt E: The FIFO rule ONLY applies to the SAME pair AND SAME lot size.

Are you sure about that? FAQ: FIFO in the Forex Market - BabyPips.com

[Matt E]

William Roeder #:

Are you sure about that? FAQ: FIFO in the Forex Market - BabyPips.com

Yes, I just had this issue today on USD/JPY. Forced me to close a .01 position since it was first before a .02 position.

That shouldn't be. In this case I should be able to close in any order since the lot size is not the same.

[William Roeder]

Matt E #: That shouldn't be. In this case I should be able to close in any order since the lot size is not the same.

Wrong. It may be a stupid, but it is the FTC rule. Lot size is irrelevant.

Stop complaining; your opinion is irrelevant. Stop blaming MetaQuotes, they didn't invent it.

[Matt E]

William Roeder #:

Wrong. It may be a stupid, but it is the FTC rule. Lot size is irrelevant.

Stop complaining; your opinion is irrelevant. Stop blaming MetaQuotes, they didn't invent it.

No YOU are wrong. It is exactly as I said. Lot size MUST be the same for FIFO to be relevant.

And next time you want to go run your mouth, know what the hell you are talking about first. Or do a little research instead of telling people what you THINK you know but actually don't.

"Traders refer to 2-43b as the FIFO rule. This first-in, first-out policy means that traders must close the earliest trades first in situations where several open trades-in-play involve the same currency pairs and are of the same position size."

https://www.investopedia.com/terms/n/nfa-compliance-rule-2-43b.asp

[Sergey Golubev]

FIFO?

It was discussied in past ... example:

FIFO rules: post #5
FIFO thread: https://www.mql5.com/en/forum/355248
FIFO status script: #21

yes, there is the script to check ...

[Matt E]

Sergey Golubev #:

FIFO?

It was discussied in past ... example:

FIFO rules: post #5
FIFO thread: https://www.mql5.com/en/forum/355248
FIFO status script: #21

yes, there is the script to check ...

I did this manually, not via automation. I tried to manually close the .02 lot size trade first before the .01 lot size and it said it's prohibited by FIFO rules. That isn't true. It's prohibited by their broken code.

 I shouldn't need a script for it to work properly unless this is coded so poorly that I would have to stop using it simply for that reason alone.

[Oleksandr Medviediev]

William Roeder #:

Wrong. It may be a stupid, but it is the FTC rule. Lot size is irrelevant.

Stop complaining; your opinion is irrelevant. Stop blaming MetaQuotes, they didn't invent it.

Stupid was  policymakers simply imposing institutional-level standards across the board. 

Need more flexibility for intra-day on retail size accounts. If broker has FIFO - forget it, why bother.

[William Roeder]

Matt E #: No YOU are wrong. It is exactly as I said. Lot size MUST be the same for FIFO to be relevant.

Yes you did. But did you read the link I provided?

Position 1: Bought GBP/USD 100,000 units at 1.6200 entered on June 1

Position 2: Bought GBP/USD 75,000 units at 1.6300 entered on June 2
Position 3: Bought GBP/USD 100,000 units at 1.6400 entered on June 3
Position 4: Bought GBP/USD 25,000 units at 1.6400 entered on June 4
Total Position: 300,000 units long GBP/USD

If you wanted to close 25,000 units with a market order, that 25,000 units will be pulled from Position 1 because it is the oldest position.

[Matt E]

William Roeder #:
Yes you did. But did you read the link I provided?

Yes and that's the whole point. It's BROKEN, because this is NOT a FIFO requirement this is a problem with their code.

Does FIFO apply to open trades of different sizes?

FIFO doesn’t technically apply with trades of different sizes. The open trades all have to be the same size. For example, all of your open trades will have to be 10,000 units for the FIFO rule to apply.

If you have three open trades and the first one is 10,000 units, the second one is 15,000 units and the third one is 10,000 units, you can’t close the third one before the first one. However, you could close the second one before the first manually. This would be so even if all three are for the same currency pair.

This is one way in which traders can work around the rule. For example they can make slight changes to the size of each trade that they have open. When they open positions with that in mind, they can manually close any one that they want to, without worrying about which one was opened first.

The work around only functions as you want it if you close the trades manually. If you set up Expert Advisors with MetaTrader, or you have a market order in place, the first position is always the oldest position. This will block you from closing some of your positions automatically, once you’re using a broker that uses FIFO trading rules.