Hedge mode?

[BuckeyeTrader]

My bot says that I’m trading in Hedge mode. If this is bad how do I turn it off?

 

[Sanchay]

Hey @BuckeyeTrader , Hedge Mode simply means, that your broker account is set to allow holding buy and sell positions on the same currency pair at the same time. This is different from FIFO (First-In, First-Out) compliant accounts like those required in the U.S., where hedging isn’t allowed and trades must be closed in the order they were opened.

I cant say hedge mode is bad or not, but some traders prefer it, others don’t. If you’re trading under U.S. regulations, though, Hedge mode can cause issues because FIFO rules prevent it. Galileo FX has settings to help manage this:

You can set the bot to Long-Only or Short-Only mode. That way, it only opens positions in one direction and avoids hedging automatically. You can use the Max Orders setting and set it to 1, so only one trade can be open at a time. This makes it impossible for the bot to hedge.
If you want to turn Hedge mode off completely, the change isn’t inside Galileo FX but in your MetaTrader account setup. MetaTrader 5 (MT5) accounts can be opened in either Hedging or Netting mode.

• Hedging mode allows multiple opposite trades.
• Netting mode consolidates trades into a single position per symbol (no hedging).