How to get around FIFO problems

[matter2003]

FIFO stands for "First In, First Out".

So if you make 5 trades, it means you have to close the first one before closing any of the others. IE, if you bought too high, the price dropped and then you bought 4 more times, you have to close out the one you bought initially before closing any of the other trades.

 

[neta1o]

FWIW, I'm moving on to non-US brokers.

How are you going to use a non-US broker with the verifications?

Admin have any other options for US folks dealing with FIFO issues?

 

[matter2003]

How are you going to use a non-US broker with the verifications?

Admin have any other options for US folks dealing with FIFO issues?

FIFO only pertains to the same lot size transactions. So if for instance you opened a trade with .01 lots, then .02 lots and then .03 lots, these would NOT be subject to FIFO rules. Only if they were all the same lot size would they be subject to them. That's the easiest way around them...open trades with different lot sizes.

 

[neta1o]

FIFO only pertains to the same lot size transactions. So if for instance you opened a trade with .01 lots, then .02 lots and then .03 lots, these would NOT be subject to FIFO rules. Only if they were all the same lot size would they be subject to them. That's the easiest way around them...open trades with different lot sizes.

Right but we are reliant on Galileo authors to update the bot to do that at this point?

 

[terrabola]

As a feature request,

How are you going to use a non-US broker with the verifications?

Admin have any other options for US folks dealing with FIFO issues?

I provided verification documentation with the broker. It was approved.