Million Dollar Pips讨论

you have to activate the FIFO option ONLY if your account is constrainted by the FIFO rule. which is applied to US resident. The FIFO is not a good option for EA's users. So we dislike this option.
but US resident suffer this issue, not the other peoples.
also some brokers accept US resident but didn't apply the FIFO rule.

I Think IBFX AUS didn't apply the FIFO rule even for US resident (not sure)
well... check your account type and then disable the FIFO option is the best option.

@willgart people from the US are not allowed to register at IBFX AU.

thanks guys. it hs no more error but at times flashes high spread. no trade yet. have set max order 4 addl chann 2 max lot 1 risk 3. is thr smthn i need to change here

@ sachinsyd: FIFO=false for IBFX(AU or not), AutoApplyECN=false, but leave UseStopOrders, Hardstoptrailing to true.
Spread warnings are ok, it will still trade.

One small loss trade for me at IBFX, but others there have no trade. That's not uncommon for MDP ...
Fred

I have also 2 orders in loss...

I set up all my group members with fifo on. It seems to work best. Im from the USA and many members are not, but I still have fifo on for all accounts.

Hey Garry,
do you mean that it makes a difference for trading results and produces more profit? - I haven't tested fifo=true, but can not imagine why it should make a difference considering the trading-style of MDP.
Fred

   Professor53 posted:
   I set up all my group members with fifo on. It seems to work best. Im from the USA and many members are not, but I still have fifo on for all accounts.

I am using IBFX US and have fifo off and hard trailing stop true. I read in another forum that US Brokers automatically enforce fifo rules so we dont have to worry about which trade to close first. In the post I am referring to the author made the case that everything you add for the ea to do simply slows down the speed of the ea. The forex police have not come after me yet. :)

Hi Fred

It didnt trade once in past 30 hours at ibfx(au) so I moved to another well known broker with lower spreads. but the error now is that the stop order level is greater than 0.00030. Do u think it is ok to have 0.00050?

Thanks
Sachin

check the demo account. there is no trade for few days. which is normal.
wait for 1 or 2 weeks to see results.

is it an error or just a warning?
0.0005 is a little high.

@sachinsyd stop order level with 5 pips is not suitable for MDP. Stay with IBFX AU or search for another broker. And be a little more patient, it's normal that MDP doesn't trade for a few days, it will trade accordingly with IBFX AU, just wait.

   Fred_Forex posted:
   Hey Garry,
do you mean that it makes a difference for trading results and produces more profit? - I haven't tested fifo=true, but can not imagine why it should make a difference considering the trading-style of MDP.
Fred

Since I had no option in FIFO on,Being from the USA, My chart reflexs that setting on my VPS setup and the new members wanted the same set up.

Garry

- Eddie is right with his post, I agree it will not work with a stop level of 5 full pips.

- I thought IBFX handles FIFO internally for the US, not in MT4. See the statement on this page (lower part): https://www.ibfx.com/Platform/Free-Forex-Demo-Account But the statement is rather cryptic, someone would have to try it out or to ask them directly to be sure, I guess. But I think either setting is ok.

It is possible that MDP only trades again on Friday, hopefully to our success!
Cheers
Fred
Add: I forgot ECB rate decision and press conference today, this could make MDP wake up, too 😀

There is no ECB today. There is ADP Unemp from US. In rare case it can provoke a trade from MDP

Oh, I have been mistaken, ECB is Thursday. I am already ahead in time 😳

   Professor53 posted:
   I set up all my group members with fifo on. It seems to work best. Im from the USA and many members are not, but I still have fifo on for all accounts.

So the Hardstop is set to false, right? Or do you have both FIFO and Hardstop on TRUE?

These settings are not connected. I always advise to leave Hardstoptrailing on true.
Fred

Oh, they are. At least in 1.16 if I set FIFO true, then Hardstop is set to disabled. Maybe 1.2 is different?

Late edit: I just checked version 1.2 on another account and also, if I set FIFO:true, then Hard_Stop_trailing automatically switches to false.

Can you confirm?

There is nothing in the manual about it and I have always used FIFO=false. But I think you are right and found out an important thing!

One can see the difference in trading here:
Professor53 account with FIFO=true as he told us:
https://www.myfxbook.com/members/Professor53/prof53-mdp-lawrence-nyc/163841
- no exit by S/L in profit

compared to Dan's account using FIFO=false (see his post yesterday) and obviously with Hardstoptrailing=true at the same broker:
https://www.myfxbook.com/members/tradinfool/dan-mdp/148717
- MDP exiting trades with S/L in profit

So, what to learn from it?
I still think that Hardstroptrailing=true gives better results, so one should avoid brokers that enforce FIFO in MT4. But obviously FIFO=false (and therefore also Hardstoptrailing) can be used even with US IBFX, as Dan stated yesterday.
Cheers
Fred