Metatrader 5

Benjamin has some thought provoking questions regarding the use of MT5:

The NFA rules eliminate hedging… (you probably know) MT5 don’t allow hedging either trades taken in the same instrument say GBP/JPY will be lump up into one trade and have to be exited at the same time even with the same entry time….

This will be a huge problem for conquer, we will have to stick to mt4 and trade with a broker outside USA(as all US broker will be forced to use MT5, and oh Oanda is American too). Do you have any idea why the US government is implementing this kind of rule in trading?????

I am just a bit surprise that the MT5 developers didn’t think of giving the option of a non hedging platform for non US brokers….. In a way MT5 forces us to comply with the NFA new regulation. What else are they going to do next….

This insight posses a long term question of the best way to proceed; to conform to the limitations of MT5, continue on with Oanda or trade with a MT4 non-US broker for as long as that remains an option.

I actually would lean toward working within the limitations of MT5 only I am unsure of it’s long term viability. Will it become a Windows Vista? I have yet to see many brokers or traders yet adapt to it.

If we were to trade with MT5 we have to modify the conquer strategy because we cannot have multiple TP on the same pair. Please enlighten me on this, why do you even consider conforming to the limitation set by MT5? From what I was reading in forums, I think there will be a lot of traders that will move their funds into a non US broker to avoid the limitations. I don’t think the future for mt4 is dead because brokers outside USA will be sensible enough not to ditch MT4 (lets hope so…..).

If every trader in the world is force into this limitation, that is fine, but if it is just the US and not the whole world then traders trading in US brokers will be severely disadvantaged in comparison to traders with non US brokers.

I agree, I also think MT4 will survive and there is a chance MT5 is the one that does not (Vista reference). The reason I would consider working within MT5 was if the life of MT4 was in question and it were soon to become obsolete.

However, trading within the limitation is completely doable. For example a ZLC trade which has two exits can be exited instead for example on a long trade by placing two separate a sell stop limit orders are the desired exit levels which would get around not being able to exit expect for in a lump sum position.

Yes adjustments would have to be made but that is the beauty of the mind and creativity. You are only limited by the limitations you put on yourself!

Sounds like we are both in agreement that MT4 should be around for the foreseeable future.

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