Smart Live Markets - Spread Bet on MT4

[montmorencyt2w]

Yup I been trading with SLM for 2 weeks now, quite intensively at 6-8 trades a day and only missed a fill once and was filled on second attempt moments later.

So far so good in all fairness but if I come across issues I'll shout.

Thanks for posting. That's what we want: more live trading experiences, rather than idle speculation (like my own .... ).

 

[montmorencyt2w]

the tax issue isn't so bad... especially if you find a way to not live off the trading profit, just build it up instead whilst stacking shelves in Tesco, so you technically wont pay income tax that way, only capital gains I believe.

I'm not sure if this is right, but if you do open that E-mini account, I hope you come back and let us know, here on the SB part of the forum, and let us know what you find out about the tax situation, if one does what you describe.

There are some tax threads elsewhere on the forum, but I haven't found them all that enlightening, on the whole.

 

[kerching]

Thanks for posting. That's what we want: more live trading experiences, rather than idle speculation (like my own .... ).

and mine lol

 

[gle101]

Yup I been trading with SLM for 2 weeks now, quite intensively at 6-8 trades a day and only missed a fill once and was filled on second attempt moments later.

So far so good in all fairness but if I come across issues I'll shout.

What do you trade?

 

[montmorencyt2w]

One annoying thing on the demo platform, because of the (new?) "decimal pricing", e.g. 5 figures after the decimal point on EUR/USD, if you try to use the advance or reverse button, it takes forever to get anywhere, so you always end up having to overtype instead, which sometimes leads to errors.

I don't know if this is the same on live.

It's a bit stupid anyway really, isn't it? Nobody needs to set levels to that degree of precision, do they? Can't imagine stops get honoured to that degree of precision!

I might be making some progress on my live account, so may have something to report in a little while.

 

[kerching]

"It's a bit stupid anyway really, isn't it? Nobody needs to set levels to that degree of precision, do they? Can't imagine stops get honoured to that degree of precision!"



good luck Mike.. hope it goes well..

i try to practice "precisionism" i'm afraid though rounded down/up..not fractional 5th digit stuff.. (unless it's an unusually fast moving market which has been a rareity for me so far)

i'm sure live will be different in that area of course..fills and slips etc.....but would hope the fractions will even out in time..

still no sign of SML rep?

 

[Mornington Crescent]

using e-mail to smartlive ?

why not try their real time help desk

link on their home page

 

[Ross Spur]

One annoying thing on the demo platform, because of the (new?) "decimal pricing", e.g. 5 figures after the decimal point on EUR/USD, if you try to use the advance or reverse button, it takes forever to get anywhere, so you always end up having to overtype instead, which sometimes leads to errors.

Same stupidity on CMC next gen.

 

[montmorencyt2w]

"It's a bit stupid anyway really, isn't it? Nobody needs to set levels to that degree of precision, do they? Can't imagine stops get honoured to that degree of precision!"



good luck Mike.. hope it goes well..

i try to practice "precisionism" i'm afraid though rounded down/up..not fractional 5th digit stuff.. (unless it's an unusually fast moving market which has been a rareity for me so far)

i'm sure live will be different in that area of course..fills and slips etc.....but would hope the fractions will even out in time..

still no sign of SML rep?

Cheers Kerching. Well I've now managed to revive my application for a live account, and it looks like it is going ahead, so hopefully I will be in a position to report back meaningfully in due course.

Cheers,
Mike

 

[montmorencyt2w]

Same stupidity on CMC next gen.

Yes I can see that 5-decimal pricing is meant to be in the customers interests and it means we can get fractional pip sizes in theory. I reckon there should be an easily changed option so the advance/retard button worked 1 pip at a time or 0.1 pip at a time.

Also, would be nice to have an option to express SL and TP in number of pips (or .01 pips) from the current price (or the order price for limit/stop orders). Unfortunately, MT4 does not seem to do that, from what I have seen of various MT4 brokers.

 

[montmorencyt2w]

Time Zone issues on SLM MT4 platform

I've just confirmed that the time on my SLM MT4 charts is an hour in advance of GMT.
More noticeable on the lower time-frames, e.g. 5M.

This is still on the demo account.

Will this be a setting I can change on my MT4 instance, or is it set on the server?

My time-zone setting on the machine as a whole is ok. Other applications are showing the correct time.

 

[Smart Live Markets]

One annoying thing on the demo platform, because of the (new?) "decimal pricing", e.g. 5 figures after the decimal point on EUR/USD, if you try to use the advance or reverse button, it takes forever to get anywhere, so you always end up having to overtype instead, which sometimes leads to errors.

I don't know if this is the same on live.

It's a bit stupid anyway really, isn't it? Nobody needs to set levels to that degree of precision, do they? Can't imagine stops get honoured to that degree of precision!

I might be making some progress on my live account, so may have something to report in a little while.

Hello

We have tried to keep everything as simple as possible. But doing this and giving you some of the lowest spreads anywhere on a spread betting platform, let alone MT4, is not without problems.

When we launched we were just 4 decimals or equivalent on all spread bet currencies.
But that attracted the usual suspects who just sit and wait for a price change to click in one direction and then try and take advantage of you.

This was beacuse of a 'rounding issue' so the price always got rounded up enabling those types of people to sell in size higher than the market really was.

It is a little complicated to explain, but by adding the extra decimal we stopped this while enabling us to keep the one point spread. We could have just widened the spreads and kept the same number of decimals.

I hope that explains the reasons.

Regards

SLM

 

[pineappleman]

It is a little complicated to explain, but by adding the extra decimal we stopped this while enabling us to keep the one point spread. We could have just widened the spreads and kept the same number of decimals.

I hope that explains the reasons.

Regards

SLM

Frankly I think people should be grateful of this!!

 

[francisfinley]

Frankly I think people should be grateful of this!!

:clap: whoopee fu cking doo

lets all run around in the street with the bunting out

 

[pineappleman]

:clap: whoopee fu cking doo

lets all run around in the street with the bunting out

What's wrong with it?! It sounds like SLM have tried their best to keep a tight spread on a couple of very popular pairs?! And this means 5 digits instead of 4...? Francis, if you have such a chip on your shoulder with this industry maybe stay away from SBs (or find a trading method that works if that's the source of your issue here), but no need to be so cutting when a new(ish) company is actually trying to be good to clients.

 

[pineappleman]

montmorencyt2w: I didn't really mean "dodgy" when it comes to debit cards, i really meant "uncouth". Just making the point that there is nothing wrong with a bank transfer in the world of business and trading is supposed to be taken as a business no matter how small an account we have (if we ever hope to build that into a big one). So anyway, it's a nothing point, never meant to offend!

kerching: sorry I didn't mean tax issues with SB... probably didn't make myself clear, I meant tax issues with futures. If I worked a job to pay my bills and didn't touch money made from a proper futures account, what taxes would I pay? Just capital gains? I preume not income tax as it would not be my income? I presume if I touched even 1 penny of any profit to pay a bill or buy something, suddenly I'd get hit with income tax?!

All a bit grey and annoying, this tax business, when you grew up in an SB environment!!

 

[Ross Spur]

Hello

We have tried to keep everything as simple as possible. But doing this and giving you some of the lowest spreads anywhere on a spread betting platform, let alone MT4, is not without problems.

When we launched we were just 4 decimals or equivalent on all spread bet currencies.
But that attracted the usual suspects who just sit and wait for a price change to click in one direction and then try and take advantage of you.

This was beacuse of a 'rounding issue' so the price always got rounded up enabling those types of people to sell in size higher than the market really was.

It is a little complicated to explain, but by adding the extra decimal we stopped this while enabling us to keep the one point spread. We could have just widened the spreads and kept the same number of decimals.

I hope that explains the reasons.

Regards

SLM

It may explain the reason from your pov, but it doesn't help all those of us who don't sit around all day waiting to pounce on 0.2 of a pip, or whatever. I find it hard to believe that more than a tiny minority try to trade this way.

 

[kerching]

hi SLM ..it's good to hear that you appear to still be trying to bend ove rbackwards fro the customer.. i wonder if you could give me yor opinion re post #1007 ? sorry if it's old ground..it's not for me..

good luck Mike.. hope the live account works out man. keep us updated.

Ross - "I find it hard to believe that more than a tiny minority try to trade this way."

well personally if i have an entry at 16100 on my stats sheet, i'm gonna try get 16100 bang on.. if slippage occurs then so be it, but not sure i should wait for an extra fraction just be sloppy for the sake of it.

cheers

k

 

[montmorencyt2w]

Hello

We have tried to keep everything as simple as possible. But doing this and giving you some of the lowest spreads anywhere on a spread betting platform, let alone MT4, is not without problems.

When we launched we were just 4 decimals or equivalent on all spread bet currencies.
But that attracted the usual suspects who just sit and wait for a price change to click in one direction and then try and take advantage of you.

This was beacuse of a 'rounding issue' so the price always got rounded up enabling those types of people to sell in size higher than the market really was.

It is a little complicated to explain, but by adding the extra decimal we stopped this while enabling us to keep the one point spread. We could have just widened the spreads and kept the same number of decimals.

I hope that explains the reasons.

Thanks for replying SLM. Appreciate that you have made an effort to make MT4 usable for SB, which the rest of them haven't done.

You didn't address the TZ question. Which country are your servers located in? I would have assumed the UK, and therefore not much reason for them to be showing GMT+1 on the charts, is there?

 

[Ross Spur]

well personally if i have an entry at 16100 on my stats sheet, i'm gonna try get 16100 bang on.. if slippage occurs then so be it, but not sure i should wait for an extra fraction just be sloppy for the sake of it.

cheers

k

That's not what I meant -- or what SLM were talking about, as far as I can see.