Dear Community,
I am currently seeking a robust solution to suspend trading activities for risk management purposes across multiple accounts. After thorough research, I have compiled a list of potential options, which I would appreciate your expertise in verifying and refining:
1. Putting the account on "Read Only Mode", thereby halting all trading activities even in the event of password changes.
2. Implementing changes to account credentials, such as passwords, to cease trading operations.
3. Revoking API access to prevent third-party services from executing trades.
4. Closing terminals to halt EA and MQL5 signal trading.
5. Disabling Algo Trading functionality to prevent EAs from initiating trades.
6. Deploying an EA capable of autonomously closing all pending and market orders.
While the option of changing passwords poses a notable risk, particularly across multiple accounts, I am keen to explore additional methods that may offer enhanced security measures.
In my assessment, the most challenging aspect lies in halting third-party services, such as cloud-based copy trading platforms, due to their independent nature and lack of direct control from MT5 terminals. Managing these services effectively may necessitate leveraging APIs for automation.I am eager to solicit the insights of this esteemed community regarding any alternative methods for suspending trading activities. Additionally, I am keen to identify the optimal approach for seamlessly resuming trading operations post-suspension, ensuring that EAs, signal allocations, and other configurations are reinstated to their prior states.
Your collective wisdom and expertise are valuable, and I am grateful for any guidance or suggestions you may offer on this matter.
Hello, good question and let me address it with the scope of my experience and knowledge.
1- To start with, it is not advisable to intervine the operations of EAs. It is becasue we use bots in order that we don't mess with our personal toughts on a particular trading.
2- If your account is under pressure, it is most likely due to either you don't manage your risk properly and/or the EAs are not well parameterized or optimised.
Referring to your question, I can say it is usually not good idea to change the parameters of the bots during operations. Thefore, you can simply apply NO:5 :
"Disabling Algo Trading functionality to prevent EAs from initiating trades."
If you want to disable some EAs instead of all just uncheck "algo trading" box in the general settings of that particular EA.
Hope this helps, good luck.
Dear Community,
I am currently seeking a robust solution to suspend trading activities for risk management purposes across multiple accounts. After thorough research, I have compiled a list of potential options, which I would appreciate your expertise in verifying and refining:
1. Putting the account on "Read Only Mode", thereby halting all trading activities even in the event of password changes.
2. Implementing changes to account credentials, such as passwords, to cease trading operations.
3. Revoking API access to prevent third-party services from executing trades.
4. Closing terminals to halt EA and MQL5 signal trading.
5. Disabling Algo Trading functionality to prevent EAs from initiating trades.
6. Deploying an EA capable of autonomously closing all pending and market orders.
While the option of changing passwords poses a notable risk, particularly across multiple accounts, I am keen to explore additional methods that may offer enhanced security measures.
In my assessment, the most challenging aspect lies in halting third-party services, such as cloud-based copy trading platforms, due to their independent nature and lack of direct control from MT5 terminals. Managing these services effectively may necessitate leveraging APIs for automation.
I am eager to solicit the insights of this esteemed community regarding any alternative methods for suspending trading activities. Additionally, I am keen to identify the optimal approach for seamlessly resuming trading operations post-suspension, ensuring that EAs, signal allocations, and other configurations are reinstated to their prior states.
Your collective wisdom and expertise are valuable, and I am grateful for any guidance or suggestions you may offer on this matter.
Hello, good question and let me address it with the scope of my experience and knowledge.
1- To start with, it is not advisable to intervine the operations of EAs. It is becasue we use bots in order that we don't mess with our personal toughts on a particular trading.
2- If your account is under pressure, it is most likely due to either you don't manage your risk properly and/or the EAs are not well parameterized or optimised.
Referring to your question, I can say it is usually not good idea to change the parameters of the bots during operations. Thefore, you can simply apply NO:5 :
"Disabling Algo Trading functionality to prevent EAs from initiating trades."
If you want to disable some EAs instead of all just uncheck "algo trading" box in the general settings of that particular EA.
Hope this helps, good luck.
Suspend the network connection on the server
The goal is to implement a mechanism where, upon reaching a specified drawdown (DD), all open positions and pending orders are closed, and trading from all sources is halted. I placed disabling algorithmic trading in the fifth position because it only suspends Expert Advisors (EAs) and does not affect MQL5 signals or third-party services. Therefore, it is not entirely effective on its own.
The simplest solution is to use common file area and maintain a control file that each ea/account reads and acts accordingly
Whatever you do you will need source code access
Thank you for your interesting take on suspending network connections as a method to halt trading activities. While this approach is valuable, it will not work with third-party services that operate independently of the MT5 terminal.
unloading other EAs programmatically is not possible but you're guaranteed no trading executions during the network suspension done by EAs or instructed by trading signals.
you could build EA, that will read terminal global variable set by other EA on DD threshold breach for example, that will turn on windows firewall via windows API blocking MT5 transmitting/receiving connections rather than complete network suspension.
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I am currently seeking a robust solution to suspend trading activities for risk management purposes across multiple accounts. After thorough research, I have compiled a list of potential options, which I would appreciate your expertise in verifying and refining:
1. Putting the account on "Read Only Mode", thereby halting all trading activities even in the event of password changes.
2. Implementing changes to account credentials, such as passwords, to cease trading operations.
3. Revoking API access to prevent third-party services from executing trades.
4. Closing terminals to halt EA and MQL5 signal trading.
5. Disabling Algo Trading functionality to prevent EAs from initiating trades.
6. Deploying an EA capable of autonomously closing all pending and market orders.
While the option of changing passwords poses a notable risk, particularly across multiple accounts, I am keen to explore additional methods that may offer enhanced security measures.
In my assessment, the most challenging aspect lies in halting third-party services, such as cloud-based copy trading platforms, due to their independent nature and lack of direct control from MT5 terminals. Managing these services effectively may necessitate leveraging APIs for automation.
I am eager to solicit the insights of this esteemed community regarding any alternative methods for suspending trading activities. Additionally, I am keen to identify the optimal approach for seamlessly resuming trading operations post-suspension, ensuring that EAs, signal allocations, and other configurations are reinstated to their prior states.
Your collective wisdom and expertise are valuable, and I am grateful for any guidance or suggestions you may offer on this matter.