Hi, I am trading stocks and I am wondering if there is any way to to program multiple buy orders that would be sent only one at a time, when the price is reached. For example, I cannot set buy orders for more than $10k on my margin account, but there are 4-5 stocks for wich I would like to set $5k (stop) buy orders. Do softwares like Metatrader can do it ? Any help would be appreciate. Thanks.
Hi, yes MT4 can do this via Expert Advisor also called “robot”. Regards Greg
You might need to see your broker’s T&C’s. Its possible the trading platform will accept an infinite number of entry orders regardless of combined margin. But the firm I use call this taking unfair advantage of their services and they may terminate the account. The implication behind this is that they might refuse to hand over the profits accumulated.
To do it, you will have to check your broker’s terms and conditions. If it allows you to, you can build your own EA and trade with it. It is all about doing the right things at the right time.