Position System in MT5 vs. MT4

Two weeks have passed since the MetaTrader 5 public Beta version has been released. In MT5 a completely new order/position system is introduced; it doesn’t allow hedging and allows only one open position per currency pair per trading account. It simplifies the trading by removing the situations with more than one position on the same currency pair (such positions just eliminate each other if opened in opposite direction) and also saves trader’s balance from excess swap charges (usually swaps on the same pair in the opposite direction are negative in total). Of course, such system is extremely different from the one that millions traders got used to while trading on MetaTrader 4. With the new system you can’t just open any amount of position and manipulate them in a comfortable manner, instead you have to deal with one position and a lot of “virtual” pending orders. Even stop-loss and take-profit orders in most cases require creation of the separate pending orders that will partially close the existing position. I haven’t decided yet whether the new position system of MT5 is better or inferior to MT4 because it’s still a beta version and many things can change in the future. And how about you?

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Update: I’ve posted an exhaustive explanation of how the new MetaTrader 5 position system functions and how the same results can be achieved using the same trading system as in MetaTrader 4.

If you have some interesting comments or questions regarding the new position and order system of the MetaTrader 5 platform, please, feel free to reply using the form below.