petays's Posts - Page 4

to mt4 or not to mt4 in Experienced Traders May 13, 2013 at 17:57

MT4 is good because the are lots of brokers, some good and even more bad ;)Its pretty easy to connect Java to MT4 client terminal using sockets.You can have one Windows VPS for that and rest of your system as you like.You can talk directly to MT4 servers using Delphi or .NET (without MT4 client terminal) but this still requires one Windows box.FIX API offers native Java connectivity but your choice of brokers get narrowed, there are still some good brokers (don't know many).Have you checked asirikuy site? They have ANSI C backtesting and order execution platform that seems really interesti...

Which ECN broker is best for Scalper EA’s in New Traders May 12, 2013 at 16:07

Do you know what is the minimum lot size for LMAX Professional Account?Their technology seems great because you can skip MT4 and use API directly.Every broker offers best execution for losing traders.When you start winning and doing withdrawals from your account you can find out the true nature of your broker (both execution and customer service).LMAX is owned by Betfair so basically they like to have loosing customers because they give best profits.But they are big and have risk management well done, maybe they treat winning customers fairly?

Which ECN broker is best for Scalper EA’s in New Traders May 12, 2013 at 12:12

Sorry, off topic.

Please help me understand the COT report/chart on myfxbook in New Traders May 11, 2013 at 09:12

COT report data might be usable to your trading style but I can't help in that because it was not use full for me.But you might like this guy's posts: Currency Strength and Weakness, Andrew Mitchemhttp://www.forexpeacearmy.com/forex-forum/andrew-mitchem-s-daily-strengths-weaknesses-analysis/25114-currency-strength-weakness-friday-10th-may-2013-a.htmlActually I don't follow him even though it might be use full, but I follow closely Sive Morten whose analysis are enjoyable reading every sunday: FOREX PRO Weeklyhttp://www.forexpeacearmy.com/forex-forum/sive-s-analysis-archive/25012-fo...

Please help me understand the COT report/chart on myfxbook in New Traders May 10, 2013 at 16:42

IMHO, they are of no use for intra day retail trader at all.

Project 500 pips a month in Trading Systems May 10, 2013 at 09:14

The formula might be:/ * / * * And they probably round it down to keep it on the safe side?Using that formula you need multiplier 2.7 to get 0.020 (0.02) lots.Multiplier 2.6 would get you only 0.019 lots that might not be enough if 2.5 was not enough for you.I'm using multiplier 0.3 and of course getting same 0.01 lots.I should use multiplier 0.6 to get 0.022 (0.02) lots.But i'll wait few months more before I increase my risk...

Project 500 pips a month in Trading Systems May 10, 2013 at 08:43

My FXCM account leverage is 1:200 and his 1:50.To my understanding you should have multplier value of 4 for the leverage.And to compensate differences in Balance you should multply that with 5.If I calculated it correctly, I mean.This is PITA because you can't control your lot sizes directly - or know what they will be until you try.And trying in demo account is fruitless because you can't set demo account starting balance.

Myfxbook Autotrade in General May 09, 2013 at 14:27

Agree!Zulu has single decent trader and Myfxbook has at least 2-3.Comparing available systems Myfxbook has absolutely best selection of good systems to follow (compared to crappy systems).And they are improving UI and functionality all the time so this is getting better every week!Zulu is currently better in most aspects but it just lacks good long running consistent systems.And there have been none if you look at their forums and look what systems there has been popular over the years.None of them exists anymore.And there is a reason for that - statistically fluent people can elaborate this m...

how to view tick data?! in General May 09, 2013 at 14:16

As I said Market Makers can do what ever to their prices (or filling you orders) and its perfectly OK in this business for these kind of brokers.If you are not satisfied you can try to find a better broker, that's your option.I've run one robot for 2.5 months with REAL ECN broker (~1500 trades) and never got single error in execution or fills.On the other hand I've got bad experiences with several other brokers that regularly make their clients loose money one way or another.Worst are those that never get caught in it.

Forex Growth Bot in Trading Systems May 08, 2013 at 14:30

I agree with that.There was almost 40% DD previously so it was not a suprise that it happened again.It just doesn't seem threatening on the chart but I believe it was as shocking then as it is now.I have made same mistake with my riskier Zulu traders too many times because their statistics are too short and suddenly they took twice as big loosing streak as before just after I have started following them hoping for good gains.I have noticed this pattern the hard way 😭If you jump in you have be prepared for the ride for a long time to see the profits.

Forex Growth Bot in Trading Systems May 08, 2013 at 05:02

Boy that was nice info to find out.That curve reminds me of something I've been following (paper only) for some time.http://www.estlanderpartners.fi/sijoitustuotteemme/varainhoitotuotteemme_alpha_trendConsistent returns about 11% pa. for 20 years.What do you care if you have few loosing *years*!In the long run you are really profitable but i just takes a little patience and hopefully it was your parents that started investing when they were young to have the profits flowing in 😀Its really easy to forget that you can be lucky only for a short time and you can't avoid laws of pro...

Myfxbook Autotrade in General May 07, 2013 at 17:33

Yes of course, it is hands free trading.

DEMO ACCOUNT vs LIVE ACCOUNT in New Traders May 06, 2013 at 19:29

Every feed is different - unless they are the same.Obviously every Market Maker has his own feed for his clients because his client base is unique and he requires unique price manipulation to get optimal profits/risk management.Mostly I follow ECN brokers and for example FinFX and DivisaFx has same feed (liquidity providers).But I don't know if they have same execution because I have not executed same trades simultaneously on both brokers to verify which booking they are using. But I believe they use different internal booking pools and thus execution (filling) will be different but statis...

how to view tick data?! in General May 05, 2013 at 14:13

When you press F9 in MT4 do you get "Instant Execution" or "Market Execution" dialog."Instant Execution" means that you are dealing with (retail) Market Maker."Market Execution" can mean anything unless you trust your provider and know exactly how they match your orders.There are all kind of brokers and they can claim what ever they like and route your trades as they want.Only "TRUE ECN" brokers will route your trade straight to their liquidity provider(s) for matching and filling.And even some of so called "TRUE ECN" brokers will do ...

how to view tick data?! in General May 05, 2013 at 07:27

Are you trading with a retail Market Maker?

Can't fix OrderSend error 130 in Programming May 03, 2013 at 19:25

int ticket=OrderSend(TradeSymbol,OP_BUY,TradeLot,Ask,TradeSlippage,0,0,TradeComment,TradeMagicNumber,0,Green);if(ticket>-1) { OrderSelect(ticket,SELECT_BY_TICKET,MODE_TRADES); OrderModify(ticket,OrderOpenPrice(),TradeStopLoss,TradeTakeProfit,0,Green);}See more: http://forum.mql4.com/36116

Can't fix OrderSend error 130 in Programming May 03, 2013 at 17:17

Your fix seems quite workable.Maybe you should select order first by its ticket before using OrderOpenPrice() function?Once i reverse-engineered code for one indicator to find out what formulas it was using.It was not so bad when I started renaming all global variables first and then relevant local variables.That helped me to have a better understanding of the code.Luckily most MQL4 code is written quite straight forward manner so it should be easy to understand ;-)Browsing the code in MetaEditor should help you because you get syntax highlighting that helps a lot.Best luck!

Can't fix OrderSend error 130 in Programming May 02, 2013 at 21:10

Yeah, fixing that shouldn't be too difficult if you know what you are doing 😀And some knowledge of programming is not bad if you plan to use a third party EA and have the source code available.It would be interesting to see that part of your code where the EA checks if price crosses/touches your hand-drawn trendline(s).I've been toying with similar ideas but calculations in price-time coordinates is not so simple (to me).But it should be doable with some kind of averaging/approximation to convert time to price in every bar which your trendline goes over.Then you can compare pri...

Can't fix OrderSend error 130 in Programming May 02, 2013 at 20:44

Just curious, what's the problem?Is it Instant Execution vs. Market Execution?

Myfxbook Autotrade in General May 01, 2013 at 16:10

I think those who are "good enough" for auto trade doesn't need to advertise here at all?It seems to me that looking at older Myfxbook or ZuluTrade forums post those "older" successful much talked about systems or traders have all disappeared lately.Either they have quit or became so successful that they find their customers other ways.Or managed to trade just by their own money which is the best thing.And I would not take any customers from Myfxbook forums because they are so demanding and would just be PITA to keep them happy all the time 😉There is not such a ...

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Posts by petays