The next step after reaching broker lot size limit | Forex Factory

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The next step after reaching broker lot size limit

  • #1
  • First Post: Nov 21, 2017 10:05am Nov 21, 2017 10:05am
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets.

To keep on increasing my equity I need to be able to trade >1000 lots.

Where do I go from here?
  • #2
  • Nov 21, 2017 10:39am Nov 21, 2017 10:39am
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
Have you tried to open more accounts and then copy trades to them? In fact, your broker already has the software for it.

https://www.icmarkets.com/forex-trad...form/mam-pamm/
You cannot be extraordinary by being normal
  • #3
  • Nov 21, 2017 5:07pm Nov 21, 2017 5:07pm
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
just out of curiosity you telling us that you trade 1000 lot? which is around a million with 1:1 leverage. And until now you are able do that through retail brokers like IC?
  • #4
  • Nov 21, 2017 7:27pm Nov 21, 2017 7:27pm
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
Here are a couple threads that may be of interest to you:

https://www.forexfactory.com/showthread.php?t=505253
https://www.forexfactory.com/showthread.php?t=383810
  • #5
  • Nov 21, 2017 9:36pm Nov 21, 2017 9:36pm
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
I need a good laugh today and this post will do it... lol
  • #6
  • Nov 22, 2017 3:02am Nov 22, 2017 3:02am
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
To answer to your question you should or "must" go towards Prime Broker solutions. Like Currenex, BaxterFx, HotSpot, Lmax , maybe EBS or reuters fxall. Those ECNs have that deep liquidity you need. But they need a high amount of capital (something i think you already have if you have hit the limit).
  • #7
  • Nov 22, 2017 7:24am Nov 22, 2017 7:24am
Quoting stoxos
{quote} just out of curiosity you telling us that you trade 1000 lot? which is around a million with 1:1 leverage. And until now you are able do that through retail brokers like IC?
Yes, yet he does not even know what a PB is...
  • #8
  • Nov 22, 2017 10:24am Nov 22, 2017 10:24am
Quoting Whikka
{quote} Yes, yet he does not even know what a PB is...
No, I don't know what a PB is but I have £1.4m in my account.
  • #9
  • Nov 22, 2017 10:29am Nov 22, 2017 10:29am
Quoting dkrock
{quote} Have you tried to open more accounts and then copy trades to them? In fact, your broker already has the software for it. https://www.icmarkets.com/forex-trad...form/mam-pamm/
To be honest, I don't know a great deal about trading. I'm a programmer by trade and subscribe to a signal service. I've written a program that monitors the signals and places trades automatically.

But multiple accounts might be the way forward. Leverage goes down the more lots you trade so multiple accounts with lower lots and bigger leverage is the way forward by the sound of it.

Thanks for that.
  • #10
  • Nov 22, 2017 10:30am Nov 22, 2017 10:30am
Quoting stoxos
{quote} just out of curiosity you telling us that you trade 1000 lot? which is around a million with 1:1 leverage. And until now you are able do that through retail brokers like IC?
No, not trading 1000 lots yet, but at some point hopefully.
  • #11
  • Nov 22, 2017 10:31am Nov 22, 2017 10:31am
Quoting Ace66
{quote} I need a good laugh today and this post will do it... lol
Glad to be of assistance to your laugh lacking existence.
  • #12
  • Nov 22, 2017 3:23pm Nov 22, 2017 3:23pm
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
you got the lot size limit per order and so what?
the lot size limit is only for one order, simple open an other order same time. very easy, your problem is solved.

if its a program, depends if the programmer is good or beginner. if he is good he is programming in volume opened, if bad in how many trades opened. so you cant with a good ( at let say at least no beginner ) programmer having your problems, he simple needs to change to volume or at least looks at the max tradeable lot size and split the order in seperate orders and placing it. there are many methods to do this extrem easy, some are much better then other ways of ofcourse.
  • #13
  • Nov 22, 2017 3:43pm Nov 22, 2017 3:43pm
Quoting dkrock
{quote} That depends on slippage. If your order moves the market, then the second entry is not ideal. Of course, depends on your strategy. If you are position trading, who cares. But your suggestion is obviously used by many traders, or else there would never be consolidation at highs and lows as they take profit trade by trade. Scaling is a common strategy to consider. Personally I like distributing better, same size, but all in and all out at the same time, but it is up to the trader and the strategy. With distribution through multiple accounts...
depends with distribution. when you dont use a good broker with many LP inside , you are correct. if you use a good one, then distribution will bring nothing, because all trade against each other account for same volume, when you already have the same LP inside.

for distribution you always has to use not the best brokers or may search for single LP accounts and then with many different LP or LP pools.
and the big disadvantage: you cant get to same low comission fees against all traded in 1 account ,because of a much much smaller trading turnover.

normal brokers are not like metatrader. you can put in as high orders amounts as you want and have margin as security. you get the partially fills until all volume is triggered. but of ocurse noone use market order for this high orders, always limit orders, stoplimit order, iceberg orders or programmend grid order types.
  • #14
  • Nov 22, 2017 3:52pm Nov 22, 2017 3:52pm
Quoting BigOldFella
{quote} To be honest, I don't know a great deal about trading. I'm a programmer by trade and subscribe to a signal service. I've written a program that monitors the signals and places trades automatically. But multiple accounts might be the way forward. Leverage goes down the more lots you trade so multiple accounts with lower lots and bigger leverage is the way forward by the sound of it. Thanks for that.
i am curious what signal service you subscribed to ??

assume they send out trade suggestions and your program converts that into actual trades.

anyway curious which service it is.
  • #15
  • Nov 22, 2017 3:54pm Nov 22, 2017 3:54pm
Quoting dkrock
{quote} They are different accounts by different people. Diversification by copying remotely. The volume is not accumulated to any one person, but to the market. If I place a trade, so do you and vice versa. If you can find multiple brokers with the same drawing pattern, then you can create additional networks on each one. Otherwise, put a new team in place to trade the alternative signals for you. There are many ways to develop your business plan. All that is required is that you know how to trade and make profit. As a proprietary trader, all money...
i dont understand, you speak about smaller LP pools? so that each LP or pool is not inside the other account LP or pools?
or i dont understand the point. if same LP are in both accounts, you fight in your own accounts for same volume on the end and dont have any difference to all in same account and same time even have much lower comission.
  • #16
  • Nov 22, 2017 4:10pm Nov 22, 2017 4:10pm
Quoting dkrock
{quote} That is the purpose of third party software. In effect, it turns you into a signal service, so it does not matter whose account the signal goes to. It becomes their trade, so it is with their broker and their account. You are thinking like a hedge fund maybe? I am a proprietary trader. Different model.

wait, i am completly out. we speal about what topic at the moment?
i thought we speak about distribute own trades to different LP, pools, brokers?

you speak about selling own trade signals to others and work as signal service? correct?

for me it looks like we speak about complete different topics, maybe thatswhy i am confused.

each strategy has its maximum volume what can be traded with, because when to much is in and all want go out, many cant go out, because price wil lgo back already when some go out. same havppens with stoploss, the stoploss will hit and all want go out, and price will o down more, and some will have high negative slippage. and this are only 2 reasons, there are so many. the frontrunner problem is also possible with small currencies or trading times with very low volume.
  • #17
  • Nov 22, 2017 4:27pm Nov 22, 2017 4:27pm
Quoting BigOldFella
After successfully turning a small sum of money into a substantial amount I've hit the lot size limit for IC Markets. To keep on increasing my equity I need to be able to trade >1000 lots. Where do I go from here?
quit trading, go and enjoy life. while you are still young.
  • #18
  • Edited 6:04pm Nov 22, 2017 4:28pm | Edited 6:04pm
Quoting dkrock
{quote} You might want to research remote trade copying if you don't understand.
i use prime brockerage, so all this is not any more important and useless. all trades with near any LP in one account by getting low commissions with big turnover. copying i did also by beginning of trading in first years, but the disadvantages are to high.

but i never did your style with team and so on... i dont have time for this and there is no volume for other same time (but of course in my beginning there was enough volume possible so maybe some years you are fine until you have big wins and get to higher trading amounts), because i try to get all volume in my buying points until a good spread. so a team is maybe good when you are all very small ( or you want maybe only earn money by selling signals and dont have to win with the trades so on the end, so less risking money on your side for same win or even more when you take money for this), noone has some millions and so all in the starting time. later you battle one each other with same trades and the team will disappeare very fast when not all have different entries and exits.
  • #19
  • Nov 22, 2017 4:31pm Nov 22, 2017 4:31pm
Quoting dukas_trader
{quote} i use prime brockerage, so all this is not any more important and useless. all trades with near any LP in one account by getting low commissions with big turnover. copying i did also by beginning of trading in first years, but the disadvantages are to high. but i never did you style with team and so on... i dont have time for this and there is no volume for other same time (but of course in my beginning there was enough possible so maybe some years), because try to get all volume in my buying points until a good spread. team is good when...
With your PB you get LVL2 and API ?
  • #20
  • Nov 22, 2017 4:36pm Nov 22, 2017 4:36pm
Quoting stoxos
{quote} With your PB you get LVL2 and API ?
you speak about futures or otc forex?
yes, api you can have like with any normal broker too. and its not bad to use, because you have your own frontend and can hide entry and exit points on your side.

Lvl 2 you need to buy for futures exchanges with monthly fee (but not so expensive, ice is most cost i think so). for otc forex you cant see the values at speacial levels in the market with the LP, only at what price you can order how many amount, so only what they show you (but you dont know if this volume if from their clients or they would take.....). but you cant see order book orders directly from others, if this is your queston?
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