rpotor, “first in, first out,” fifo. well, one problem at a time. today being my first day live, i haven’t run into this problem here yet, just thought about it, and don’t yet know how it will affect our efforts to automate. certainly caught it on one of my other methods. trading a basket of inter-pair arb spreads, i ended up with multiple longs in one pair. using an ea called, “close at profit,” which closes all positions when a certain profit is reached by the sum of all positions. but, when that profit was reached and it came time to close, i got a message saying something like, “trade # could not be closed due to fifo violation,” meaning that, among those three e/u longs i had, it wanted me to differentiate which one i initiated first and take that one out first, etc. riiiight. that’s just what i needed to hear. it also took a long time to close those positions manually because the chart kept locking up. once i got out of that, i realized that i could have only one position in each pair to use that closing ea.
there will be times when we may want our stops or tp’s at the same point for multiple positions, same pair. if anyone knows how this fifo works, help us out here. are we going to run into problems when we get to a stop or tp on multiple and same pairs?
It’s the broker’s responsibility to comply with the fifo rule when multiple open trades hit the SL or TP price level on the same currency pair.