Topic: Metatrader fails to execute order.
My broker ceases order processing every morning from 7.00am until 7.05am (local time). They say it is because it is a volatile time and they have had complaints about bad fills and positions being stopped out. Anyway, whatever the reason, this brings up an issue with what happens if the trade fails to execute. I have copied the log below.
2012-05-10 05:44:24,Strategy "EURUSD15minTripleEMAGeneratedEOWpercent_5" loaded successfully.
2012-05-10 05:44:28,EURUSD M15 Connected to MetaTrader- AxisTrader by AxisForex Group Holdings Pty Ltd
2012-05-10 05:44:28,EURUSD M15 Long 0.27 lots at 1.29419, Stop Loss 1.28160, Take Profit 1.30640, Profit 48.53 AUD
2012-05-10 05:44:42,Automatic trade started.
2012-05-11 07:00:05,EURUSD M15 An exit order sent: Close 0.27 lots at 1.29345
2012-05-11 07:00:08,MetaTrader- AxisTrader failed to execute order! Returned: Market is closed
2012-05-11 07:38:21,Automatic trade stopped.
As you can see, an exit oder was sent at 07:00:05 to close the position but this failed because the broker was closed for 5 minutes. I was hoping that FST would try again to close the position but after 38 minutes I turned of FST and closed the position manually.
I would have expected FST to keep trying to close the position until it succeeded, say by resending the exit order every minute. Is there a setting for this or should this be something to add to a future release. A new broker would solve the issue but I still think there may be a problem in any situation where the exit order fails to close the position.