Smart Live Markets - Spread Bet on MT4

[Tenapenny]

Re: Meta Trader 4

Good idea.


Frustrating though when the market decides to ignore you, or go round the long way

Got there in the end.

 

[gle101]

Re: Meta Trader 4

How are you live traders doing trading with SLM, any problems with re-quotes or "price no longer messages"?

 

[Jack Hughes]

Re: Meta Trader 4

No account opening offer yet...

 

[toughbananas]

Re: Meta Trader 4

I asked them a bunch of questions recently and I got some good solid replies. I did ask about the account opening offer and was told that they are working on it right now. I suppose they are getting there advertising ready.

 

[Sang Froid]

Re: Meta Trader 4

I asked them a bunch of questions recently and I got some good solid replies. I did ask about the account opening offer and was told that they are working on it right now. I suppose they are getting there advertising ready.

:clap: Wow first ever post in two years, this broker must really have you excitied

 

[gle101]

Re: Meta Trader 4

I guess SLM caught the whole SB industry by surprise. They have all in union said that the MT4 platform is not a stable and suitable platform for SB. SB clients have been asking for it for years and now it is finally here introduced by this unknown company. It will be very interesting to find out how well they execute in the long with all the EA's and scripts running in full action.

 

[Jack Hughes]

Re: Meta Trader 4

Next week ODL transfers to the FXCM platform, which I think is better than MT4.

 

[gle101]

Re: Meta Trader 4

Next week ODL transfers to the FXCM platform, which I think is better than MT4.

Better than MT4? What makes it better, it is not an independent platform, therefore makes it easier to manipulate (not implying that they do).

 

[montmorencyt2w]

Re: Meta Trader 4

Better than MT4? What makes it better, it is not an independent platform, therefore makes it easier to manipulate (not implying that they do).

The other point of course is that with MT4, there is a large body of users out there with whom you can share experiences, skills and code, etc, whereas with the proprietary platform, the user population is going to be by definition, somewhat limited.

I can imagine that the new platform may have some usability advantages if they have done it well, but you do have to wonder what their motivation is.

 

[Tenapenny]

Re: Meta Trader 4

Better than MT4? What makes it better, it is not an independent platform, therefore makes it easier to manipulate (not implying that they do).

Good point, though I have read somewhere, ff I think, that MT4 can be manipulated but with so many brokers using it, it is blatantly obvious.

 

[Jack Hughes]

Re: Meta Trader 4

Better than MT4? What makes it better, it is not an independent platform, therefore makes it easier to manipulate (not implying that they do).

If they want to flag up a client or delay trades I'm sure they can find a way.I think FXCM's homegrown platform is much better for trading directly from a chart. Just a pity their spreads are wider.

 

[gle101]

Re: Meta Trader 4

If they want to flag up a client or delay trades I'm sure they can find a way.I think FXCM's homegrown platform is much better for trading directly from a chart. Just a pity their spreads are wider.

The good thing about MT4, it is an independent platform and you can find EA's and script every possible market and trading scenario. There is also huge community ready to help you out. The only thing that might be a drawback is, that it will take some time for the newbie, to get a basic understanding of the platform.

 

[gle101]

Re: Meta Trader 4

An introductory offer from SLM.

http://www.smartlivemarkets.co.uk/Offer.aspx

 

[Jason Rogers]

Re: Meta Trader 4

The other point of course is that with MT4, there is a large body of users out there with whom you can share experiences, skills and code, etc, whereas with the proprietary platform, the user population is going to be by definition, somewhat limited.

I can imagine that the new platform may have some usability advantages if they have done it well, but you do have to wonder what their motivation is.

Hi Mike,

I would agree with you and gle101 on both points.

A big motivation for offering the MT4 platform is because there are a lot of EA users out there; not to mention those that have customized indicators, scripts, etc. The problem is that the scalability and integration with no dealing desk execution is limited. Purely from a self-trading perspective, the FX Trading Station II will be superior to MT4 in terms of execution and trading features.

Because of MT4's limitations in scalability and NDD integration, FXCM has been working on a new platform which is essentially an Add On to all of our existing FX Trading Station II accounts. The platform, which some on the forum may have seen me mention already, is called Strategy Trader. Strategy Trader is our new automated trading platform which will be the MT4 alternative. So traders will have the option to use FXTSII for self-trading or Strategy Trader for automated trading. You could actually use Strategy Trader for self-trading also, but I personally prefer FXTSII for self-trading.

What's so good about Strategy Trader? It was designed by FXCM to integrate seamlessly with NDD execution. No more bridges needed to connect the platform to the execution. Second, since it's owned by FXCM, we can make upgrades to it as we see fit and based on client feedback unlike with MT4 where we're subject to the platform Metaquotes makes available.

Strategy Trader will offer the ability to create custom indicators, strategy advisors (aka EA's), etc, and we're including a marketplace inside the platform where users can share their SA's and indicators with each other. The coding language we chose for Strategy Trader is c#, an open language, and the process of converting EA's and tools to Strategy Trader should be relatively easy. Our programming services team is in the process of commenting the code for some of the strategies and launching a programming Wiki to help users put their ideas into practice using Strategy Trader.

The charting is extremely powerful and has a lot more features than what's available in MT4. Just as an example, in addition to candlestick, bar, and line charts, it has Line Break Charts, Renko Charts, Kagi Charts, Point and Figure Charts, and over 100 custom indicators. Plus you can do additional things that even MT5 can't do such as view tick charts, create custom time frame charts such as 120 second candlesticks, 13 minute candles, 3 day candles, etc and the ability to view either the bid, ask, or both on the chart. Historical candle access will be greatly increased to 500,000 candles; compared to a maximum of 15,500 on MT4. And the backtesting is extremely extensive with many tools you would have to pay for in other platforms to get access to such as genetic optimization and walk forward analysis.

So in a nutshell, the FX Trading Station II is a very well designed platform for self-trading and we believe going forward Strategy Trader will be an excellent add-on more powerful over MT4's limitations. If you're not that keen on learning a new platform, we don't think you'll find Strategy Trader that hard to master:

-Jason

 

[Black Swan]

Re: Meta Trader 4

d'ya know what pi55es me off about MT4? No 'kin tick charts and no 2/3 min TFs. When I'm swinging and want to play scalping for a bit of fun/extra cash it's poo. Totally over rated piece of kit IMHO...

 

[Jason Rogers]

Re: Meta Trader 4

d'ya know what pi55es me off about MT4? No 'kin tick charts and no 2/3 min TFs. When I'm swinging and want to play scalping for a bit of fun/extra cash it's poo. Totally over rated piece of kit IMHO...

Candle or line time frames by tick, points, seconds, minutes.... all in strategy trader. If you don't see the number of ticks you want in the menu, there's a space at the top right where you can type whatever you want:

 

[gle101]

Re: Meta Trader 4

The independent MT4 and MT5 platform has one major advantage, it is personal customization. I want my own solution to platform short comings. I want to have control over how my own trades is going to be executed, in what manner and when. Most of the problem you have, can be solved by searching through different MT4 communities. It want be the right platform for everybody, but it will be for many, especially as you get more experienced. I just love it and I am very pleased that SLM brought it to SB. Hopefully, I will be just as pleased when I soon start trading live with them.

 

[montmorencyt2w]

Re: Meta Trader 4

Hi Mike,

I would agree with you and gle101 on both points.

A big motivation for offering the MT4 platform is because there are a lot of EA users out there; not to mention those that have customized indicators, scripts, etc. The problem is that the scalability and integration with no dealing desk execution is limited. Purely from a self-trading perspective, the FX Trading Station II will be superior to MT4 in terms of execution and trading features.

Because of MT4's limitations in scalability and NDD integration, FXCM has been working on a new platform which is essentially an Add On to all of our existing FX Trading Station II accounts. The platform, which some on the forum may have seen me mention already, is called Strategy Trader. Strategy Trader is our new automated trading platform which will be the MT4 alternative. So traders will have the option to use FXTSII for self-trading or Strategy Trader for automated trading. You could actually use Strategy Trader for self-trading also, but I personally prefer FXTSII for self-trading.

What's so good about Strategy Trader? It was designed by FXCM to integrate seamlessly with NDD execution. No more bridges needed to connect the platform to the execution. Second, since it's owned by FXCM, we can make upgrades to it as we see fit and based on client feedback unlike with MT4 where we're subject to the platform Metaquotes makes available.

Strategy Trader will offer the ability to create custom indicators, strategy advisors (aka EA's), etc, and we're including a marketplace inside the platform where users can share their SA's and indicators with each other. The coding language we chose for Strategy Trader is c#, an open language, and the process of converting EA's and tools to Strategy Trader should be relatively easy. Our programming services team is in the process of commenting the code for some of the strategies and launching a programming Wiki to help users put their ideas into practice using Strategy Trader.

The charting is extremely powerful and has a lot more features than what's available in MT4. Just as an example, in addition to candlestick, bar, and line charts, it has Line Break Charts, Renko Charts, Kagi Charts, Point and Figure Charts, and over 100 custom indicators. Plus you can do additional things that even MT5 can't do such as view tick charts, create custom time frame charts such as 120 second candlesticks, 13 minute candles, 3 day candles, etc and the ability to view either the bid, ask, or both on the chart. Historical candle access will be greatly increased to 500,000 candles; compared to a maximum of 15,500 on MT4. And the backtesting is extremely extensive with many tools you would have to pay for in other platforms to get access to such as genetic optimization and walk forward analysis.

So in a nutshell, the FX Trading Station II is a very well designed platform for self-trading and we believe going forward Strategy Trader will be an excellent add-on more powerful over MT4's limitations. If you're not that keen on learning a new platform, we don't think you'll find Strategy Trader that hard to master:

-Jason

Thanks Jason. Hopefully not a silly question: Can you just confirm this is available on your SB accounts? Presumably yes, as you are posting here in the Spread Betting part of the forum, but I thought I had better check. Thank you.

 

[montmorencyt2w]

Re: Meta Trader 4

An introductory offer from SLM.

http://www.smartlivemarkets.co.uk/Offer.aspx

Damn - cashback on losses, rather than cash into account. I hate that sort of offer. Too negative.

 

[gle101]

Re: Meta Trader 4

Damn - cashback on losses, rather than cash into account. I hate that sort of offer. Too negative.

Yes this is what to be expected, fairly new company, they will have clients joining them anyway, the MT4 platform will be the guarantor for that. I am quite sure the SLM will attract a lot of traders signing up with them. Their spread is narrow and that makes it an easy choice compared to other platforms. If they offer a good service and execute well they will have a bright future.