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The next step after reaching broker lot size limit

  • #61
  • Nov 24, 2017 4:13am Nov 24, 2017 4:13am
Quoting BigOldFella
{quote} I've not touched the program in about 8 months other than recently when I had to limit the lot size to stop the trades being rejected.
8 months is a very long time, for a program you claimed you code it. let aside, if it bring enough profit / your main income engine in trading.
I hope you do a proper documentation on your code, as we tend to forget what certain function(s) do...
I revisit my code everyday..
  • #62
  • Nov 24, 2017 4:17am Nov 24, 2017 4:17am
...and also, if the signal is sent through email (as you claim), why don't you diversify to use many broker? (or many accounts on the same broker?)
  • #63
  • Nov 24, 2017 4:22am Nov 24, 2017 4:22am
Quoting simond2002
Hello BigOldFella, Been watching this thread with interest. Regarding the following: {quote} can I ask, If certain of these trades presented what seemed like a trading "edge", were you able (or do you think it's possible) to emulate it with an algo?
When I say "analyse" I mean if we checked to see if we'd have traded all the signals would we have made a profit. We didn't go into what was the underlying reason for the trade.
  • #64
  • Nov 24, 2017 4:25am Nov 24, 2017 4:25am
Quoting Intrepidpips
{quote} Wow, so signal providers have been so fantastic to you that you have exceeded 100 lot size on the copied signals and bought 8 houses to date out of the profits, when do we get to know these excellent SIGNAL PROVIDERS?
Right now - type "Signal Provider" into Google.
  • #65
  • Nov 24, 2017 4:28am Nov 24, 2017 4:28am
Quoting Hairi
{quote} 8 months is a very long time, for a program you claimed you code it. let aside, if it bring enough profit / your main income engine in trading. I hope you do a proper documentation on your code, as we tend to forget what certain function(s) do... I revisit my code everyday..
You revisit your code everyday?????? I wouldn't hire you as a coder. I've got code running that I haven't touched in 15 years.
  • #66
  • Nov 24, 2017 4:30am Nov 24, 2017 4:30am
lmax interbank
  • #67
  • Nov 24, 2017 4:33am Nov 24, 2017 4:33am
Quoting Hairi
...and also, if the signal is sent through email (as you claim), why don't you diversify to use many broker? (or many accounts on the same broker?)
Why is the signal being sent through via email a point of contention?

The reason I haven't diversified to other brokers/accounts is that, up until now, I've not had to.
  • #68
  • Nov 24, 2017 4:34am Nov 24, 2017 4:34am
Quoting timos
lmax interbank
Thanks. LMAX has been mentioned before and it a possibility. Not looked at interbank...but I will.
  • #69
  • Nov 24, 2017 5:04am Nov 24, 2017 5:04am
I expected the naysayers ... you haven't got that much in your account ... signal providers don't work ... if they were any good they'd be trading not selling signals ... should only be risking 2% of your account.

But doubting that the signals come in via email and that I should be checking my code every day is just bizarre.

I'm not sure where this maximum risk of 2% comes from but if you've got an edge and you can quantify it from historical trades why stick at 2%. If I'd use 2% per trad I'd be up about £21k.

And then to top it all, dukas_trader and dkrock start slagging each other off mid thread.

Fantastic.
  • #70
  • Nov 24, 2017 5:13am Nov 24, 2017 5:13am
Quoting BigOldFella
{quote} Why is the signal being sent through via email a point of contention? The reason I haven't diversified to other brokers/accounts is that, up until now, I've not had to.
not exactly true.
unless you have some special arrangement, even UK brokers have coverage only for 50k GBP...and things can and go wrong with brokers time to time, like with Alpari.
on top, larger accounts and large orders execution may suffer more from slippage.
worst case, your total order will cause the same slippage, but more likely you come out better using different brokers that may have different liquidity partners.
the least having 2 or more broker gives you a chance to compare them, and give most of business for the overall best one.

it would and should be your best interest to not use a single broker.
there is always, always another trade!!
  • #71
  • Nov 24, 2017 5:27am Nov 24, 2017 5:27am
Quoting BigOldFella
{quote} Why is the signal being sent through via email a point of contention? The reason I haven't diversified to other brokers/accounts is that, up until now, I've not had to.
Then...I believe there is nothing to worry about, because the main purpose of your thread is gain opinion on "The next step after reaching broker lot size limit".
I just gave the temporary solutions (for diversify brokers/accounts).
  • #72
  • Nov 24, 2017 5:28am Nov 24, 2017 5:28am
Quoting profitfarmer
{quote} not exactly true. unless you have some special arrangement, even UK brokers have coverage only for 50k GBP...and things can and go wrong with brokers time to time, like with Alpari. on top, larger accounts and large orders execution may suffer more from slippage. worst case, your total order will cause the same slippage, but more likely you come out better using different brokers that may have different liquidity partners. the least having 2 or more broker gives you a chance to compare them, and give most of business for the overall best...
That makes total sense.

Shows my lack of experience...and laziness.

I pay for a virtual server "package" of 5 servers, only one is running a live account. The other are generally running tests but I think I will open another account and switch one of the test servers to run live on a different broker.

I chose IC Markets on the recommendations from another thread but the other thread was a strategy based on very small TP of 5-10 pips so small spreads were vital. I suppose a bigger TP means that the spread is less of an issue i.e 2 pips out of 10 is 20% but 2 pips out of 40 is only 5%. Still not insignificant though.

What are the spreads like on the prime brokers?
  • #73
  • Nov 24, 2017 5:51am Nov 24, 2017 5:51am
The whole thread stinks.

If someone praises or promotes signal services: RUN !
  • #74
  • Nov 24, 2017 5:59am Nov 24, 2017 5:59am
Quoting BigOldFella
{quote} That makes total sense. Shows my lack of experience...and laziness. I pay for a virtual server "package" of 5 servers, only one is running a live account. The other are generally running tests but I think I will open another account and switch one of the test servers to run live on a different broker. I chose IC Markets on the recommendations from another thread but the other thread was a strategy based on very small TP of 5-10 pips so small spreads were vital. I suppose a bigger TP means that the spread is less of an issue i.e 2 pips out...
i use IC myself too, as my current main broker.
the reason i asked, cos i dont have by far that much equity there, but even now i started to see execution quality slipping when larger lots executed, or trades copied to larger accounts vs smaller accounts.
the %age isnt necessarily as you wrote, as any and all brokers will have some cost...so, the cost difference will be in fact less than the 20 or 5%, mentioned.
sure, overall even 0.5 pip differences can and do add up, scalping or swing trading.
what i pointed out, at a certain size however the funds overall safety benefits ( including the funds being insured by the regulator) may outweight some of the extra cost.
while IC and ASIC all is a sound choice, Australia as a country has no funds protection extended over the brokers, afaik.
the broker may or may not offer you some extra assurances over a certain size, idk. what i do know, that the simple way is to diversify between the brokers, reasons mentioned the last post, and a simple trade copier software take care of the rest.
there is always, always another trade!!
  • #75
  • Nov 24, 2017 6:12am Nov 24, 2017 6:12am
Quoting The-Flipper
The whole thread stinks. If someone praises or promotes signal services: RUN !
Thanks for the reasoned argument.
  • #76
  • Nov 24, 2017 6:33am Nov 24, 2017 6:33am
Quoting The-Flipper
The whole thread stinks. If someone praises or promotes signal services: RUN !
He's just baiting some poor ol traders who would have been sending him PMs by now.
Let it turn and find your entry.
  • #77
  • Edited 7:21am Nov 24, 2017 6:56am | Edited 7:21am
Quoting BigOldFella
I expected the naysayers ... you haven't got that much in your account ... signal providers don't work ... if they were any good they'd be trading not selling signals ... should only be risking 2% of your account. But doubting that the signals come in via email and that I should be checking my code every day is just bizarre. I'm not sure where this maximum risk of 2% comes from but if you've got an edge and you can quantify it from historical trades why stick at 2%. If I'd use 2% per trad I'd be up about £21k. And then to top it all, dukas_trader...
many solutions was presented for your problem.
many solutions was so easy, you could hire even normal programmer for doing it, or you start learning programming, its really easy. when you can program your questions will never come again, copying is one of the most easy possible programs you can do, at least with files, with pipes will be better but little bit more complicated.

your signal service you speak good about has good results if its true (but the companies you mention are scam ), its normal that many dont believe you because most of signals services are extrem bad and you can be only passive marketing so. additionally many write they have big wins with signal providers, but near noone has.

and dkrock was extrem unexperienced (looks really he did not learn basics of maket and trading), so it needed a long help for him to show him his mistakes because he recognized the topic not really, but on the end he did see that he was wrong and did run away and deleted his wrong comments.
  • #78
  • Nov 24, 2017 7:01am Nov 24, 2017 7:01am
Quoting Intrepidpips
{quote} He's just baiting some poor ol traders who would have been sending him PMs by now.
I think he is just trolling everyone, you can see it in the way he replies.
Despite the funny thread and the trolling attempt, it is sad to see experienced traders eating this kind of BS.

Consistent EA's for 30$, 50-100%/month returns, broker "bonus", quit your job in 2 months, etc... This things should NOT be taken seriously by experienced traders.
  • #79
  • Nov 24, 2017 7:05am Nov 24, 2017 7:05am
Quoting BigOldFella
What are the spreads like on the prime brokers?
Typically higher than the best ECN retail brokers, because they are not winning business on the basis of offering the tightest spread, but on the ability to reliably move size. The only pro platform I have used is at UBS : you can fill a $50m trade on a major in a blink of an eye, not only that, after setting up the trade, you have about 5 seconds during which they guarantee your fill (not at major news).

If you have to fill an order for Toyota to move $500m USDJPY, an MT4 retail account is not the place to do it.

... but Whikka is probably right, this is almost certainly another fantasy thread...
  • #80
  • Nov 24, 2017 7:18am Nov 24, 2017 7:18am
Quoting BigOldFella
{quote} - Sharktips and Faraday Research. Both are very good and offer similar returns (60%+).
maybe thats why people dont believe you in your signals services: sharktips is know as scam if you search web for it. they mention wrong results.

if you did not even read reviews and want invest in such know scam then all what you tell here looks like fake too maybe, and its not wonder noone believes that you have won any house with it, better chnace you lost some houses with trading.
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