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Common Errors in Metatrader 4

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Metatrader has a built-in error identification mechanism inside its terminal. Like most software program, errors detected are expressed in numerical codes. The errors can often be discovered below the specialists or journal tab of your Metatrader terminal window. In case you are utilizing customized software program for buying and selling, comparable to an professional advisor or script, you may additionally ask your programmer to show the errors on the display screen. This articles lists the most typical errors skilled by merchants whereas utilizing the buying and selling terminal.

Error 3 “Invalid Commerce Parameters”

It implies that a number of of the commerce parameters of your most up-to-date order was unacceptable to the dealer. If the order was despatched by a human dealer, verify the lot measurement, stoploss, and takeprofit values and see in the event that they meet the necessities of your dealer. If it is an professional advisor, you also needs to verify on the remark variable, as giving a null worth or double citation marks (“”) to the variable are generally rejected by the server.

If the final order despatched was for a pending order, verify in case your dealer permits pending order expiration. Some brokers disable this function, and would solely settle for a zero worth for the variable.

Error 6 “No reference to commerce server”

It merely implies that the terminal is unable to hook up with the server. This may very well be a server fault, but it surely’s usually a neighborhood web connection downside.

In case your web connection is okay, verify the web connection standing on the decrease right-hand portion of your Metatrader terminal. If the standing says both “No connection” or 0/0, then your terminal experiencing an issue in utilizing your web. Restart Metatrader instantly. This does not occur usually, however may very well be an alarming challenge if left unnoticed.

Error 8 “Too Frequent Requests”

This error can be encountered by human merchants, however professional advisors usually tend to expertise it. Every dealer has a restrict on the variety of requests it may well take for any given account. This error seems when an account has reached that restrict. That is usually an indication of dangerous professional advisor programming or dangerous EA logic. Rethink the foundations on the EA.

Error 65 “Invalid Account”

This error usually occurs in demo accounts. Most demo accounts have a date of expiration, and once they reached it, such accounts are thought-about “invalid.” Nobody, not even an professional advisor, can commerce utilizing an invalid account. Simply create a brand new demo account.

If it is an actual account, then you will have an actual downside. Contact your dealer instantly.

Error 129 “Invalid Worth”

For professional advisors, if encountered so much and persistently, it is a signal of dangerous programming. For human merchants, it is a signal that the market at present being traded is very unstable. It may very well be purely attributable to market components, comparable to buying and selling information.

Error 130 “Invalid Stops”

Invalid stops implies that the stoploss, or takeprofit, or each, are unacceptable to the dealer. Brokers usually set limits to stops to restrict their threat. Be sure that your stops are positioned on the minimal, or just a few pips higher than the minimal (in extremely unstable markets).

There are some brokers that don’t permit the setting of SL and TP ranges for market orders (purchase and promote) at time of execution. They require the trades to be entered first, and to switch the stops later. If encountered by an professional advisor, the EA could have to be up to date.

Error 133 “Commerce is disabled”

Which means MT4 isn’t allowed to commerce with professional advisors and scripts. See the doc on tips on how to allow professional advisors and scripts in Metatrader.

Error 133 “Commerce is disabled”

Which means MT4 isn’t allowed to commerce with professional advisors and scripts. See the doc on tips on how to allow professional advisors and scripts in Metatrader.

Error 134 “Not sufficient cash”

This usually occurs in backtesting an EA. It merely implies that the account doesn’t have sufficient funds to enter the market utilizing present parameters.

This error can be encountered by human merchants, after struggling an enormous loss as a result of margin name, or a shedding streak.

Error 148 “Too Many Orders”

This error occurs when there quantity or lively orders within the account exceeded the restrict set by the dealer. The depend additionally contains pending orders. Chorus from executing new positions till the quantity or orders have been decreased. Brokers usually set actually massive limits, so this error is commonly encountered by automated buying and selling techniques. Rethink this system logic.

Error 149 “Hedge is prohibited”

Ask your dealer if they permit hedging. In case you are utilizing a method that entails hedging, ask your dealer if they’ve servers that permit hedging. In case your dealer is a multinational firm, as a rule, they do, and so all you must do is ask them to switch your account to that server. Asking them may prevent the time for switching to a different dealer. Word that it has nothing to do with the server, however on the legal guidelines and regulation in impact on the state, nation, or territory the place the server at present operates. In case your present server operates in the USA (the place hedging isn’t allowed), ask your dealer whether or not or not you may migrate your account to a server situated elsewhere, comparable to Australia.

Error 149 “Prohibited by FIFO Rule”

FIFO means “First In, First Out.” Similar with Error 149, if this rule significantly impacts your technique, it’s possible you’ll wish to swap brokers/servers, or transfer on and formulate a special buying and selling technique.

For orders made by human merchants, errors are sometimes discovered on the terminal, below the journal tab. For professional advisors and different customized software program developed for MT4, errors can generally be discovered on the specialists tab. In case you are utilizing an professional advisor, and the identification of errors is important to your technique, it’s possible you’ll wish to ask your programmer to program your software program to provide you with a warning at any time when an error is encountered.

It is necessary for merchants to know what errors are experiencing, why they occur, and the way the would cut back the potential of receiving such errors sooner or later. Errors throughout buying and selling are attributed human errors, however in some instances, the dealer could must seek the advice of their dealer relating to their insurance policies. For merchants who use customized software program for Metatrader, they might must seek the advice of their programmer for troubleshooting and even request for software program modifications.

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Source by Enrico Lambino

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