We recently made a few adjustments to the trade copier settings in order to prevent missed trades. However on Friday, some people missed some or all of the JPY trades after Friday’s NFP announcement. This needs to be resolved in order to prevent any missed trades at all or at least until there is an extremely low rate of missed trades as in less than 0.05%.
We have a temporary solution to put into place right away, and then a permanent solution to follow up with to prevent this from happening again as much as possible. Both solutions #1 & #2 need to be followed so start with #1 right now and I will take care of solution #2 as soon as possible.
The settings of the trade copier EA need to be adjusted back from ‘false’ to ‘true‘ under PlacePendingOrder.
Double-click on the smiley face of the EA displayed in the upper right hand corner of the chart to open the EA properties.
In the popup window switch to the inputs tab and enter the following: Place.PendingOrders = true
This is how we had the settings and there were significantly less missed trades when the pending orders are placed on your platform rather than when triggering as market orders. This is a temporary fix as it still leaves us vulnerable to missed orders during high risk news events.
The permanent solution lies in me switching brokers for the master account.
Art has done extensive research looking into the problem we experienced of trades closing and immediately reopening which also has caused a couple of important trades to be missed during high impact news events. Here is how he explained the situation to me:
The problem comes from OANDA MT4 only.Now OANDA is really making things complicated and they are the only one that has their MT4 working different than others.So this is what happens. When you have a pending order on OANDA and it gets triggered, its trade number is changed.Lets say you have #1234 BUY STOP trade on OANDA and when it gets triggered and becomes BUY, its trade number will be #1236 or some other, but not the one that used to be before while this order was pending.So obviously copier sees that trade #1234 was closed and a trade #1236 was opened. That is why we see that strange behavior on the slave account. In fact for the Client EA all this is normal, it is doing what it is suppose to do.
We also have the option of switching trade copiers to new software however without changing brokers for the master account the same issue persists.
I will switch brokers for the master account to eliminate this problem and still continue to use my own Oanda accounts as slaves for the new master as I personally prefer working with Oanda.
Some wonderful news to share…
Late on Thursday evening we received the great blessing Maria Lucia our first child!