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Position Limit Reached?

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pfunkyfize

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Hi all, new to trading and the bot trading industry-

I recently bought the Personal level of Galileo FX and having a good time learning with a Demo account. I opened the Journal tab in MT5 and saw these errors pop up...

"2024.05.28 17:38:10.036 Trades '82274312': failed instant buy 0.01 USDJPY at 157.181 tp: 157.381 (deviation: 10) [Position limit reached]"
"2024.05.28 17:37:08.395 Trades '82274312': failed instant sell 0.01 USDJPY at 157.157 tp: 156.957 (deviation: 10) [Position limit reached]"

Does that mean I could not take a profit even if the criteria for taking it was there?

Is this position limit only for Personal level customers of the bot? As far as I know I thought the limitations on Personal/Plus/Pro levels is the amount of profit you can take monthly.

Thanks!
 
pfunkyfize said:
Hi all, new to trading and the bot trading industry-

I recently bought the Personal level of Galileo FX and having a good time learning with a Demo account. I opened the Journal tab in MT5 and saw these errors pop up...

"2024.05.28 17:38:10.036 Trades '82274312': failed instant buy 0.01 USDJPY at 157.181 tp: 157.381 (deviation: 10) [Position limit reached]"
"2024.05.28 17:37:08.395 Trades '82274312': failed instant sell 0.01 USDJPY at 157.157 tp: 156.957 (deviation: 10) [Position limit reached]"

Does that mean I could not take a profit even if the criteria for taking it was there?

Is this position limit only for Personal level customers of the bot? As far as I know I thought the limitations on Personal/Plus/Pro levels is the amount of profit you can take monthly.

Thanks!
Click to expand...
It has something to do with the lot size position you are executing on the trade.
  1. Dynamic Lot Size Calculation:
    • The EA dynamically calculates the lot size based on the risk percentage and your account balance.
    • As your account balance grows, the lot size will automatically increase to align with the risk percentage you have set.
    • This ensures that your position sizes are adjusted in proportion to your account size, allowing for controlled risk management.
For further clarification, you can contact support@galileofx.com
 
Oh Ok,

I've been leaving the default risk percentage of .5% and have yet to change it. Another variable i need to think of. Thanks!
 
pfunkyfize said:
Hi all, new to trading and the bot trading industry-

I recently bought the Personal level of Galileo FX and having a good time learning with a Demo account. I opened the Journal tab in MT5 and saw these errors pop up...

"2024.05.28 17:38:10.036 Trades '82274312': failed instant buy 0.01 USDJPY at 157.181 tp: 157.381 (deviation: 10) [Position limit reached]"
"2024.05.28 17:37:08.395 Trades '82274312': failed instant sell 0.01 USDJPY at 157.157 tp: 156.957 (deviation: 10) [Position limit reached]"

Does that mean I could not take a profit even if the criteria for taking it was there?

Is this position limit only for Personal level customers of the bot? As far as I know I thought the limitations on Personal/Plus/Pro levels is the amount of profit you can take monthly.

Thanks!
Click to expand...
maybe you could no longer open trade since yur margin is already reached or you may have adjusted the parameter in the bot about max buy or max sell
 
Hm, my max order configuration was set to 0 . I am wondering if this is because I am using Personal and not Pro level version?
 
pfunkyfize said:
Hm, my max order configuration was set to 0 . I am wondering if this is because I am using Personal and not Pro level version?
Click to expand...
how much is your accout balance , can you send screenshots of the error and the parameter settings
 
Vinz said:
how much is your accout balance , can you send screenshots of the error and the parameter settings
Click to expand...
volume .01
no stop loss
take profit 200 points
max orders 0

bull 2
bear 2

You know, now that I think of it, there were a gajillion open positions because I did not set a max order number. I wonder if MT5 choked on the sheer amount of trades and said max 200 positions reached....
 

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pfunkyfize said:
Yeah I saw someone mention that 200 open positions is the Maximum. I have exactly 200
Click to expand...
200 Open Positions is an extremely high number. It sounds like your entire account balance would be on the market where more trades couldn't be executed. Send Vinz your screenshot of MT so they can check it out!
 
scrappyjedi said:
200 Open Positions is an extremely high number. It sounds like your entire account balance would be on the market where more trades couldn't be executed. Send Vinz your screenshot of MT so they can check it out!
Click to expand...
I was experimenting with very aggressive settings. Bull and Bear 1/1 .The robot was piling on a bunch of orders and it got to 200 before it stopped.

I have a more disconcerting issue though since it is affecting my live account. The max order limitation doesn't seem to be working. I set it to 10 orders max and the amount of orders went on going and making trades I caught it at 13 and started removing trades to get it down to 10. I have now shot off algo trading so it won't make anymore trades. It caused me to go past margin and the brokerage liquidated my trades that were at loss. I've lost money because I let the bot run all night. I think that needs to be fixed. Attached is the screenshot of the 13 orders added beyond the 10 max I specified in the settings. Trades are between the blue parens.
 

Attachments

  • MaxOrders.jpg
    MaxOrders.jpg
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Last edited:
Does the max order setting only keep track of the orders the bot made not including the one click manual buy/sell button in MT5?
 
pfunkyfize said:
Does the max order setting only keep track of the orders the bot made not including the one click manual buy/sell button in MT5?
Click to expand...
Just to answer this I even try it on my MT5 and the answer is no, it doesn't count the one click manual buy and sell
 
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