surprisingly I can not find the answer to this question anywhere not even on MT4 it self.
Is it or is it not possible to set up more than one pending order? when I try to set up more than one I get an error that says ‘trade disabled’ blah blah parameters I’m sure someone has seen it before. So more than one pending order on MT4 Yay, nay and if nay what other options do I have? I really would like to stay with Alpari-Us.
Yes you can set up more than one pending order…as long as they’re all in the same direction…ie all long orders or all short orders. It really is a pain but as phil stated, it’s to do with the new no hedging rules.
It seems to me that european brokers have a better chance of taking advantage of people due to their lack of regulation. US has NSA and CSTblah blah what ever it is, EUro only has the FSA, I’ve seen a lot of bad reviews on alpari uk but I really want to be able to have more than one pending order. Can anyone lighten my skepticism?
IMO, U.S.A. regulations usually screw traders and make it harder for them more than it helps them. Like the uptick rule for stocks. Most of the rules are put in place by people who know little about economics (but think they are experts) and make silly assumptions such as, “day traders/speculators are screwing up the markets.”
I saw it all over when the stock markets failed, a bunch of ass hats trying to blame speculators. It wasn’t speculators at all. It was the stupid goverment forcing banks to give out housing loans to people with bad credit who were very likely to default. As usual entirely the goverments fault and they try to blame something or someone else.
IMO, having two orders open in either direction isn’t going to help your trading. You don’t need it, unless you are trying to be a swing trader who puts in orders way ahead of time.
Also, IMO, trying to straddle price because, “it has to go one way or the other,” is really close to gambling and a very poor way to trade.
Best thing you can do, if you want to hedge, is to just set up price alarms close to where you want to enter and have the orders ready to go with a click and all the numbers punched in.