Topic: What's the best way to deal with FIFO rules?
I've been testing out EA Advisor and FSB Pro, and this question applies to both.
For those that don't know, FIFO (First In First Out) is a rule in the United States which applies to Forex trading (among other things). If you open two positions of a given size (say, 0.01 lots), the position that was opened first needs to be closed first, regardless of what's going on in the trade.
I set some bots running last night, and although they turned a profit, many trades could not close because of FIFO when their take-profits hit.
Is there a work-around for this? A couple of possible solutions:
Trailing stops instead of take-profits. You can get stopped out of any trade despite FIFO.
Martingale-style entries, since the positions are of different sizes, although this eats up margin pretty quickly.