ERRORS IN METATRADERS THAT ARE Popular
The Metatrader terminal has an integrated error detection feature. Errors, as in most applications, are represented by numerical codes. The errors are normally found in your Metatrader terminal window's experts or journal tabs. You may also ask the programmer to display the errors on the machine if you're using custom software for trading, such as an expert advisor or script. The most common mistakes traders make while using the trading terminal are discussed in this article.
“Invalid Trade Parameters” is the third blunder.
It means that the broker has rejected one or more of your most recent order's trade parameters. Check the lot size, stoploss, and takeprofit values to see whether they meet your broker's criteria if the order was made by a human trader. If it's an expert advisor, you should also verify the comment attribute, since the server would reject it if you assign it a null value or double quotation marks (“”).
If the last order you submitted was for a pending order, check with your broker and see if they would be allowed to expire. Some brokers disable this function and only allow a value of zero for the variable.
"There is no interaction with the trade server," says Error 6.
It simply means that the terminal was unable to establish a connection with the server. The issue may be with the server, but it's more likely to be with your local internet connection.
Check the status of your internet link in the lower right-hand corner of your Metatrader terminal to see if it's working properly. If the status reads "No link" or "0/0," your terminal is having trouble connecting to the internet. As soon as possible, Metatrader should be restarted. This doesn't happen all that much, but if it goes unnoticed, it can quickly escalate into a major problem.
Human traders may also make this mistake, but expert advisors are more likely to do so.
"Too Many Requests" is Error #8.
For each account, each broker has a cap on the amount of requests it will accept. When a user's account reaches its cap, this error occurs. This can be caused by poor expert advisor programming or EA logic. Examine the EA laws again.
"Invalid Account" is Error 65.
With demo accounts, this is a typical blunder. The majority of demo accounts have an expiration date after which they become "invalid." An invalid account can't be exchanged by anybody, not even an expert advisor. Build a new demo account only.
If it's a real account, you've got a major problem on your hands. Please get in touch with your broker right away.
"Invalid Price" is Error 129.
Experts believe this is a sign of poor programming if it happens often and on a regular basis. It informs human traders that the market they are trading is extremely unpredictable. Market dynamics, such as trading news, may be the primary cause.
"Invalid Stops" is an error number 130.
When a broker refuses a stoploss, takeprofit, or both, the term "invalid stops" is used. Stop losses are often limited by brokers in order to reduce risk. Make sure your stops are at the lowest possible level, or only a few pips above it (in highly volatile markets).
Some brokers do not allow SL and TP levels to be set at the time of execution for market orders (buy and sell). They are adamant about putting trades first and then changing stop losses later. If an expert advisor is consulted, the EA may need to be revised.
MT4 is unable to trade with expert advisors or scripts due to Error 133. “Trade has come to a halt.” This article describes how to use Metatrader to allow expert advisors and scripts.
"Trade is disabled," says Error 133.
On MT4, expert advisors and scripts are also not permitted to be traded. This article describes how to use Metatrader to allow expert advisors and scripts.
"There isn't enough money," says Error 134.
This is a common phenomenon when backtesting an EA. It basically means that the portfolio does not have enough funds to meet the market's current needs.
Human traders can also make this mistake after a large loss due to a margin call or a losing streak.
“Too Many Orders” Error 148
This error occurs when the number of active orders in the account exceeds the broker’s quota. In addition, pending orders are included in the total. Wait until the number of instructions has been decreased until conducting new roles. Since brokers often set extremely high limits, automated trading systems frequently experience this mistake. Rethink the logic of the software.
“Hedge is forbidden,” says Error 149.
Check with your broker to see if hedging is permitted. If you’re using a hedging strategy, check with your broker to see if they have hedging servers. If your broker is a multinational corporation, they almost always do, and all you have to do is request that your account be transferred to that server. Asking them could save you time when it comes to switching brokers. It’s important to note that this has little to do with the server and instead relates to the laws and regulations in force in the state, nation, or territory where the server is currently located. If your current server is located in the United States (where hedging is prohibited), inquire with your broker about migrating your account to a server in another country, such as Australia.
“Prohibited by FIFO Rule” is Error 149.
FIFO stands for “First In, First Out.” Similar to Error 149, if this rule has a significant impact on your trading strategy, you may want to switch brokers/servers or move on and develop a new trading strategy.
Errors are often found on the terminal, under the journal tab, for orders placed by human traders. On the experts page, errors can often be found for expert advisors and other custom applications built for MT4. If you’re working with an experienced advisor and detecting errors is crucial to your plan, you might want to have your programmer set up your software to notify you whenever an error occurs.
It is critical for traders to comprehend what errors they are encountering, why they occur, and how they can reduce the likelihood of encountering those errors in the future.
Human error is blamed for trading mistakes, but in some situations, the trader may need to ask their broker about their policies. Traders who use custom Metatrader software may need to seek help from their programmer for troubleshooting or even request software modifications.
How do I resolve the MT4 Common Error message?
The MetaTrader 4 trading platform is one of the most widely used by Forex traders. Despite the introduction of the latest MetaTrader 5 trading platform, this version of the platform remains in high demand. MT4 is a fantastic platform that gives you a plethora of useful trading tools and features while also allowing you to trade Forex effectively on a daily basis. However, even this platform can present some difficulties in your trading routine. One example is MetaTrader 4’s ‘Common Error’ post. This error may occur for a number of reasons. Normally, the error message appears in the platform’s window’s bottom right corner. The error is depicted in the image below.
The weak Internet connectivity is one of the main causes of this widespread mistake. This error could appear if your Internet connection is having problems, whether it is just sluggish or is being interrupted.
Despite the fact that MetaTrader 4 is a high-quality platform, this error can occur from time to time. This is because MT4 necessitates a good Internet connection.
How do I resolve the MT4 Common Error message?
Please take the following steps if you receive the MT4 Common Error message:
- Shut down any charts that are loading or seem to be stuck.
- Restart your PC and close the platform.
- Check the connection signal. Even if you think your Internet connection is fine, turn off your Wi-Fi router and leave it turned off for about a half-minute. Switch it back on.
- If you use any anti-virus software or Internet security services, try to turn them off for a while.
- If you have another PC, try using the MT4 platform there to figure out what’s wrong.
- Double-check that you’re logging in to the correct server. Link to the correct’Demo Server’ if you’re on the Demo account, for example. On the right-hand side of the phone, click the link bars button. Select ‘Rescan servers’ from the drop-down menu. If this does not make a difference, try a different server site.
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