I’m in the process of learning how to use MT5 with python.
My demo account through the broker had a starting balance of £1,000, and it looks like this:
account_info=mt.account_info()
account_info
AccountInfo( trade_mode=0, leverage=1, limit_orders=200, margin_so_mode=0, trade_allowed=True, trade_expert=True, margin_mode=2, currency_digits=2, fifo_close=False, balance=1002.37, credit=0.0, profit=0.0, equity=1002.37, margin=0.0, margin_free=1002.37, margin_level=0.0, margin_so_call=100.0, margin_so_so=50.0, margin_initial=0.0, margin_maintenance=0.0, assets=0.0, liabilities=0.0, commission_blocked=0.0, currency='GBP', ...)
When I try to place an order with a volume of 0.01, the code and resulting output looks like this:
symbol="USDJPY"
# prepare the request
point=mt.symbol_info(symbol).point
request = {
"action": mt.TRADE_ACTION_DEAL,
"symbol": symbol,
"volume": 0.01,
"type": mt.ORDER_TYPE_BUY,
"price": mt.symbol_info_tick(symbol).ask,
"sl": mt.symbol_info_tick(symbol).ask-100*point,
"tp": mt.symbol_info_tick(symbol).ask+100*point,
"comment": "python script",
"type_time": mt.ORDER_TIME_GTC,
"type_filling": mt.ORDER_FILLING_IOC,
}
result = mt.order_send(request)
result
OrderSendResult(retcode=10009, deal=381890714, order=524025709, volume=0.01, price=150.764, bid=150.764, ask=150.764, comment='Request executed', request_id=1796337626, retcode_external=0, request=TradeRequest(action=1, magic=0, order=0, symbol='USDJPY', volume=0.01, price=150.764, stoplimit=0.0, sl=150.66400000000002, tp=150.864, deviation=0, type=0, type_filling=1, type_time=0, expiration=0, comment='python script', position=0, position_by=0))
However, when I try to place an order with a larger volume, I get the ‘no money’ error:
# prepare the request
point=mt.symbol_info(symbol).point
request = {
"action": mt.TRADE_ACTION_DEAL,
"symbol": symbol,
"volume": 0.02,
"type": mt.ORDER_TYPE_BUY,
"price": mt.symbol_info_tick(symbol).ask,
"sl": mt.symbol_info_tick(symbol).ask-100*point,
"tp": mt.symbol_info_tick(symbol).ask+100*point,
"comment": "python script",
"type_time": mt.ORDER_TIME_GTC,
"type_filling": mt.ORDER_FILLING_IOC,
}
result = mt.order_send(request)
result
OrderSendResult(retcode=10019, deal=0, order=0, volume=0.0, price=0.0, bid=0.0, ask=0.0, comment='No money', request_id=0, retcode_external=0, request=TradeRequest(action=1, magic=0, order=0, symbol='USDJPY', volume=0.02, price=150.82, stoplimit=0.0, sl=150.72, tp=150.92, deviation=0, type=0, type_filling=1, type_time=0, expiration=0, comment='python script', position=0, position_by=0))
What am I misunderstanding or doing wrong? Is my balance too low, even for such a small order of 0.02? Do I need to add leverage?
When I tried to place an order for BTCUSD with a volume of 0.02, it went through just fine. The 'no money' error did not appear. So is it an issue specific to Forex trades?
I don't want to risk the whole balance on a single trade, but I'm obviously doing something wrong with the lot sizes.
Undoubtedly I am overlooking something obvious, but I am new to this.
Any advice will be appreciated.
Thanks