Smart Live Markets - Spread Bet on MT4

Regarding requotes, had a few on Friday when price was moving relatively fast.

I have only ever used 1 other SB firm so don't know if requotes occur on most platforms with most SB companies?

Can someone in the know tell me why they happen when price moves faster?
 
Mornington Crescent said:
I dont have a 13:38 on MT4 Broco
seems they had a 3min tea break
🙂
Click to expand...

Thank you for the confirmation it shows that it happens across multiple platforms at the same time. There are times when it occurs before important news then you get very large spikes up or down then a reversal all on a 1 min bar it's as if they turn off feeds then turn them back on again. Luckily it doesn't happen too often.
 
Mornington Crescent said:
how quick are you on the trigger ?

you cant reasonably expect anyone to hold their price for very long
Click to expand...

Trigger, lol, always makes me chuckle.

For an "instant execution" when I click Buy or sell that's how quick I am. The time it take sto click.

When the price is not moving it will open a trade but when price is moving quickly I often get requotes.
Like I said I can live with it as MT4 on the whole is so much better than my live broker.

I was just asking because as a relative newbie I like to learn from more experienced traders who may be able to offer an explanation as to why this happens.

It may just be a simple matter of many orders coming in at the same time and not being able to cope, I don't know.

If it occurs on all platforms then I wont bother looking elsewhere to deposit my hard earned.
 
Instant execution problems usually occur during, just before or just after news from my experience. You are better off determining price entries in advance and using pending orders that will allow you to get the entry you want regardless of news. Problem is it depends on the system if it flashes a buy or sell signal during news then it can be pot luck what price you end up with or the price will not fill and you get a requote. If you're worried about hard earned cash you have to ask why you're thinking of trading it where you can lose it very quickly if you don't have a plan in advance.
 
busfarehome said:
Trigger, lol, always makes me chuckle.

For an "instant execution" when I click Buy or sell that's how quick I am. The time it take sto click.

When the price is not moving it will open a trade but when price is moving quickly I often get requotes.
Like I said I can live with it as MT4 on the whole is so much better than my live broker.

I was just asking because as a relative newbie I like to learn from more experienced traders who may be able to offer an explanation as to why this happens.

It may just be a simple matter of many orders coming in at the same time and not being able to cope, I don't know.

If it occurs on all platforms then I wont bother looking elsewhere to deposit my hard earned.
Click to expand...
Re-quotes or price no longer messages you do get with most SB's (depended on how wide a spread, meaning wider spread less re-quote, also the volatility plays a part). If you do get excessive re-quote something is wrong. It can depend on too narrow internal deviation, dealer interference, not fast enough price feed, server technology and your own setup etc.. I know one thing for sure, one should not except more re-quotes using the MT4 platform compared to trading with other SB companies.
 
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easytimes said:
Thank you for the confirmation it shows that it happens across multiple platforms at the same time. There are times when it occurs before important news then you get very large spikes up or down then a reversal all on a 1 min bar it's as if they turn off feeds then turn them back on again. Luckily it doesn't happen too often.
Click to expand...

Yes thank you Easytimes and MC for bringing this up and confirming it... I had no idea it was an MT4 thing. Hope SLM see this post, and everyone else moaning at them over their 1M data.

I have run offline charts too built on 1M and do realise that what you see on the offline doesn't always mean you'll get filled at the price you want due to these weird gaps. Annoying but again it's all part of the real world of retail trading/charting/internet/gambling etc no-one is going to just hand you a pot of wealth you have to sweat effing hard for it.
 
gle101 said:
It can depend on too narrow internal deviation ... and your own setup etc..
Click to expand...

Yes two good points: I hate that deviation thing on MT4 - it's basically saying "how much are you willing to let your broker take from you per trade?" .... very annoying. I basically ignore it and turn it off but yes it means you suffer requotes, I guess I'm just not willing to put a price tag on execution. Anyone else using MT4 (mainly SLM) here who can say what they set their pip deviation to?? I have no idea what the going rate is.

Also, I live in an area where broadband is not exactly quick, and I'm signing up to faster broadband next month (although "faster" in my terms is probably still laughable to most on this forum). I'm doing it in the hope of better fills too, but I wonder if I'll actually see much of a difference really. Worth an extra £10 per month I guess.
 
Thanks for the information regarding requotes.

Had problems closing a trade this morning.
GBP/USD had gone up so I went to close 1/3 of it and it kept saying "invalid price", I clicked close trade about 7 times same result.
I closed MT4 and reopend and had the same problem, could not partially close the order.

Funny thing is the price was was not moving at the time, eventually I could close 1/3.
A few minutes later had the same trouble closing another 1/3.

I have come to expect that a couple of times when price is moving fast but it was still this time.
 
I have been using smart live markets for a couple of months now trading end of day. Their MT4 based platform is great in my opinion because the MT4 charts make it easy for me to spot the setups that I like, whereas it's much harder for me with the charts you get with other SB companies.
 
ILikeCCI said:
I have been using smart live markets for a couple of months now trading end of day. Their MT4 based platform is great in my opinion because the MT4 charts make it easy for me to spot the setups that I like, whereas it's much harder for me with the charts you get with other SB companies.
Click to expand...

They are probably the best charts of any SB i think. MT4 charts are flexible and clear. I just started a demo from CMC of the 'Next Gen' platform. The charts on that are pretty close to being unusable and they just get worse if you add any of the super colourful indicators to them.
 
Mata Nui said:
They are probably the best charts of any SB i think. MT4 charts are flexible and clear. I just started a demo from CMC of the 'Next Gen' platform. The charts on that are pretty close to being unusable and they just get worse if you add any of the super colourful indicators to them.
Click to expand...

Agreed. The green candles on the black background just look 'right' in my opinion.
 
Mata Nui said:
They are probably the best charts of any SB i think. MT4 charts are flexible and clear. I just started a demo from CMC of the 'Next Gen' platform. The charts on that are pretty close to being unusable and they just get worse if you add any of the super colourful indicators to them.
Click to expand...

Typical of CMC - all nonsense colourful glitter trying to make the average man on the street think they can trade with bubblehead platforms.... and absolute sh*t everything else.
 
busfarehome said:
Thanks for the information regarding requotes.

Had problems closing a trade this morning.
GBP/USD had gone up so I went to close 1/3 of it and it kept saying "invalid price", I clicked close trade about 7 times same result.
I closed MT4 and reopend and had the same problem, could not partially close the order.

Funny thing is the price was was not moving at the time, eventually I could close 1/3.
A few minutes later had the same trouble closing another 1/3.

I have come to expect that a couple of times when price is moving fast but it was still this time.
Click to expand...

Thanks for sharing this.... very worrying. Like you said, when price isn't moving you should be able to click and get out NOW. That is worrying.
 
Mata Nui said:
EUR/USD is 1.3 at the moment so thats not bad. Still too early to tell if the variable spreads will be better long term though.
Click to expand...

Maybe a safe thing for everyone to do would be to factor in a cost of 3 pips in their trading method/system for EUR, maybe 4 for GBP. That way 99% of the time you should be ok, it'll already be factored in. I think when we start relying on 1 pip spreads on anything we're asking for too much as this doesn't really exist in the real market, not to us end-user retail traders anyway.

We need to be fair and realistic. Many real FX brokers cannot offer a fixed spread and certainly not as low as 1. It doesn't really exist. It's much better SLM are using variable spreads, it's better for fills and fairness.

Just widen the spread allowance in your trading plan, money management and risk management (position sizing), then suddenly all these "spread problems" stop being problems 99% of the time. The other 1%... well, you probably shouldn't be trying to trade (especially SB) during these times!!! 😆 (I'm referring to, of course, NFP release etc).
 
When are they going to sort out currency pair charts that are screwed up?

I can't add my s/r, pivot's and im not happy.
 
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