Million Dollar Pips Discussion

because you think a broker cannot do some intervention using other platforms????
lol
your signal always go through their servers no matter the client tool. so they can do everything on their side all the time.

why we don't read 'problems' like this with the other paltform?
there is far less users of the other platform, some of them are expensive and available to big traders and companies only. the type of professional customers asking for top performance from the broker.
they pay the big price to be the first in the pipeline.
these platform didn'T have the same market share and accessibility to the developpers. so its harder to find some EAs.

but for sure if an EA appear and the broker dislike the trading type, they'll cause you issues (delays etc...) like they do with MT4.

except if you pay for a contract to insure the performance of your signal.

so MT4 is a good platform doing a good job; simply take a look at the number of EA able to get incredible profits with quick trades (like MDP)
. the problem is at the broker side...

MT4 is in use by 96.4% of retail brokers and obviously any profitable EA or automated strategy is going to impact them individually and collectively (i.e. their liquidity providers). It therefore makes statistical sense for them to automagically 'interfere' with the EA's profitability in much the same way that they spread widen and delay execution during news events. If you can't bring yourself to believe in this chicanery, just go on doing what you're doing and keep complaining here and elsewhere about the poor performance of MDP..... and the magical coincidences of its sudden downturn in performance. This latter isn't something that you can fob off as a function of market volatility - simply because MDP trades often take less than a minute to execute (but are very vulnerable to digital manipulation over that time-span).

No-one said that MT4 isn't a basic 'good platform'. It's just that it, and in particular, its free data-feed is everywhere the choice of us dumb-asses - and it's precisely that fact that makes us very vulnerable to brokers doing whatever they like to us - with the complicity of the MT4 creator, the House of Metaquotes. Together they make quite an evil cartel that's not unlike any casino that modifies their roulette wheels to favour the house. Brokers love losers.

I can confirm this story as I got hit hard at ThinkForex on 30th October, they denied any order modification when MDP fired, and execution for order opening took 5-10 seconds, instead of previously good execution of 600-700 ms. They denied everything (they always do) and refused to adjust for losses that accounted for about 15% account loss.

   DaggerDirk posted:
   A word from an insightful insider. Version 3.87 of Metaquotes Trade manager (nicknamed 'the slug') was issued to participating brokers on 29 Oct 2011 to defeat MDP and a couple of other lesser known scalpers. It works via recognition of accounts utilizing these EA's and injecting a flux spread into trade sequences that creates mayhem with the MDP modus operandi in particular.

Metaquotes always responds eventually to overtures from brokers for measures to defeat EA's that are affecting their bottom lines. ThinkForex was one of the first brokers to adopt anti-MDP measures, but soon widened their policy as the benefits became apparent. They are now one of the worst execution delay brokers to be found. Ultimately they will reap the whirlwind in loss of clientele.

Sorry to be the bearer of bad tidings, however those optimistically and stoically pressing on with MDP and the 'free' EA Forex AutoScalper (to name but two being targeted) - well they are pushing excrement up a steep incline and brokers universally say 'thank you' for your persistence. MT4 is a bad EA platform simply because it is so vulnerable to broker intervention via provision to brokers of bespoke interventionist tools. Refund while you can - or just shelve it.

I have to add that TF proclaiming themselves being ECN/STP is in fact a market maker, manipulating spreads before the news and when orders are executed, they don't slip, this is impossible for an interbank execution when it comes to market or stop orders, and this is a proof that this is a market maker who pretend to be an ecn/stp.

There will always be dishonest brokers. Therefore it is important to do your due diligence regarding all the aspects of a brokerage before you entrust your money to them. The mere fact, that there exists such a software to 'manage trades', i. e. to simulate a deal-desk on the server-side, does not mean each and every broker is using it.

Regarding the comment of Misty I like to add, that more and more brokers claim that they are STP or ECN, because they notice that clients want to trade the 'real' markets and want to have tight spreads and are therefore looking for ECN-trading-brokers. But just their claim of being STP/ECN does not make them one. You have to consider that most of the retail trades (at least the micro-lots) are to small for an ECN and also for many liquidity providers in case of STP. So the broker has to take those trades on their internal book and either hopes you will lose (or make you loose) or tries to hedge the exposure, which is hard at the times when MDP trades.

So, for me I have come to the conclusion, that brokers that show no slippage during MDP trading can not be STP or ECN, but have to be market-makers. These brokers will eventually block your trading somehow to make you loose again (giving errors of off-quotes or trading disabled) or they let you trade, but then don't pay you your gains.

So, if you want to make serious money with MDP you have to look for a trust-worthy broker, that may give you a little slippage, but let's you trade as you like.

That's my 2 cents, if somebody can prove me wrong and knows such a 'holy-grail' trustworthy true ECN-broker where MDP works without slippage, I am interested to hear about it (in a PM if you prefer).
Fred

Indeed, Fred. This is no problem when ECN/STP broker does a market making - this usually improves spread and trading conditions, but they must hedge in the underlying, and not to take explicit risk on their books, because if they do, they have the incentive to make you lose since your win is their loss. Unfortunately I can see how many of they don't hedge or profile specifically, and instead of doing an honest brokerage business by making commissions they try to profit from trader's losses, since most traders lose indeed.

I would say that number one parameter to check is commission, if there is no commission then there is a spread markup and this is an open road to further problems. Another one - if broker offers serious rebates on commission via introducing brokers, then look for the further troubles - it means their main profit is not from commission then from what? From your loss of course. So they have all the incentives to make you lose your shirt in no time.

Any trades today?

Lots of news and a few spikes but I haven't had anything. Anybody has had trades?

   Kaptain posted:
   Any trades today?

Lots of news and a few spikes but I haven't had anything. Anybody has had trades?

nothing here. Spikes need to be around 30 pips or so in about a minute.

@Misty:
Yes, but taking commission does not mean the broker is 100% honest, it's just a first sign, that it COULD be that he is providing a conflict-free trading environment. I learned lately that many brokers claiming to be ECN do both: Marking up the spread AND taking commission.

Regarding rebates I can understand that brokers try to get help attracting clients, but why don't they offer better trading conditions for customers signing up without an IB? This whole cash-back and rebate business is rather wrong-headed: Isn't it strange that we retail-traders have to sign up with IBs that give us back part of our money we paid to the broker while trading (through spread or commission), instead of the broker giving us better conditions from the start and directly?!
But I don't think, that a broker that does give rebates to IBs must be dishonest or must have other means of profiting.

And: Your are right, market-making is not bad per se, but deceiving traders about their model of order execution and making false claims is.
The good thing is, that the whole broker industry is developing towards tighter spreads and more realistic trading-conditions (faster execution, less slippage or requotes) for retail-traders in the last years. And I think we are seeing, that MT4 is hitting its built in boundaries there and even execution-only brokers have their problem with this platform. (MT4 was first developed to work under Windows 98 and the then available computer power, etc). So there is also a push from this side to replace MT4 with a platform that supports EA-trading, but is faster and able to plug into 'real' trade-servers directly.
Will MT5 be able to take this place? I don't know. I haven't researched MT5 yet.
I tried and liked protrader (https://protrader.net) which a lot of brokers are offering in the meantime (sometimes under different names). It is directly supported by Integral (see their website) and offers many different auto-trading languages.
Ok, maybe I am going too much off-topic here.

Let's hope MDP makes us some money this week, maybe Draghi can cause some market movements again, tomorrow?
No trades for me today, by the way.
Cheers and happy trading
Fred

+1.17% for me today (3 losing and 2 winning-trades)

Not bad, Eddie, I see IBFX is trading now.
Nothing for me there today: Metatrader had stalled and I didn't notice 😭. Almost +3 % on 2nd broker, again a small loss on 3rd.
Fred

Fred,

Same here my VPS had an auto server software update and I did not know. So no trades for me today.

I do have a script to autostart MT4 but I have to log in for it to activate.

Will there be any incompatibility with the recent MT4 update to v 416?

When do you think is the next trade oppurtunity?

Kaptain

...

Kaptain,
you should consider switching off the automatic windows updates and do them manually at the weekend.
For starting any software when the VPS is starting (without login) you can use the software 'always up'. I haven't heard about what v 416 comprises, but I don't think it could be harmful. I heard someone having successful trades yesterday with it. The next foreseeable trading chance for MDP is probably Bernankes speech later today.
Cheers, Fred

Hey Folks,
why is the thread so quite? Is everybody gone for the weekend already? 😉

Maybe somebody is still reading here and can confirm this:
I think the internal publishing function of MT4, which can be used for uploading the trades to this site, often interferes with MDP trades and slows the order-handling. I noticed that the publisher tries to publish any new (pending-)order and maybe also modifications of orders. This is unrelated to the time-interval set for updating. When publisher is active, Metatrader is occupied and MDP can't work, because Metatrader doesn't support multi-threading?!

So, I guess it is better to use the Myfxbook update-EA or do updates manually (what I did lately).

Any comments on this issue? Thanks.
Cheers
Fred

Does this also appear if I use the myfxbook-update-function? I set it to 1 day now because I didn't find a way to update manually and deactivate automatic updates.

guys, i am receiving this error alot, any idea if MDP is still working if i have these errors?

it didnt open any trades for me this week

2012.03.14 17:10:22 Old tick EURUSD1 1.30295/1.30301

Old tick may be the result of any of the following three faults:
1. client's computer time not sync with the 'world clock
2. slow data feed between broker's server and client's MT4
3. broker's server is overloaded.

Some say this error affects demo account more than live. What broker caused this error? See if they use multiple data center and choose another from the connection icon in MT4 status bar.

P.S. I also use the myfxbook EA for publishing.

i am using ThinkForex on a VPS in USA, i have changed the data center, hope this will solve the issue.

thanks for your help