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MT4 Brokers' Virtual Dealer Plug-In

  • #61
  • Feb 18, 2008 5:36pm Feb 18, 2008 5:36pm
Quoting NordLounge
Try to open similar trades with any ECN and MT4 broker with the same s/l and t/p levels and check after some period of the time...you know what? your balance at ECN account will be less then at any MT4 broker.
I added emphasis to "try", since it won't be easy entering at the same level on both platforms, given the average spreads in MT4.

Quote
because if you are professional it doesn't matter which broker or platform do you use.
Tell that to all of the professional traders who use EBS, Currenex, Lava, HotSpot, eSpeed, FXall, IB, Duka, TDFX, etc.
  • #62
  • Feb 18, 2008 5:41pm Feb 18, 2008 5:41pm
Quoting NordLounge
Offcourse there is a difference and I am not talking about suspicious brokers but for sure I prefer to use top mt4 brokers instead of ECN top brokers just because of better trading conditios.
P.S. I have mentioned that I will start to use ECN as soon as trading conditions and policy will become more suitable for me.
By my opinion widen spread is much worst than spikes because incase of arbitrage situation in 95% of the cases funds lost during the spike will be returned but incase of widen spread.......no need to continue.
Top MT4 brokers........ better trading conditions..... Dude I don't know what kind of meds your on but will you share.....
Same Whore .... Different Dress
  • #63
  • Feb 18, 2008 6:39pm Feb 18, 2008 6:39pm
Sorry everyone, but I think a lot of those functions make sense to me and are expected.

For example:

"Watching symbol gaps, during which pending orders BUY STOP and SELL STOP and stops of open positions are activated not at the clients requested price, but at the gap price."

Why give us a better price than whats available in the real market?

It's obvious to me that the Metatrader server features are overly simplistic and this plug-in is a standard interface that allows the broker to tame a sometimes illiquid market. This IS a "market maker" model remember. Your orders don't have to find an opposite participant like you would in the real world.

Really people, read every one of those features again and if you look at it unbiased they totally make sense.

The delay one sucks, but I guess our job is to find a dealer who sets this to a value that is as low as possible.

,Bundy
Bundy's status today: "Waiting..."
  • #64
  • Feb 18, 2008 7:02pm Feb 18, 2008 7:02pm
Quoting bundyraider
Sorry everyone, but I think a lot of those functions make sense to me and are expected.

For example:

"Watching symbol gaps, during which pending orders BUY STOP and SELL STOP and stops of open positions are activated not at the clients requested price, but at the gap price."

Why give us a better price than whats available in the real market?

It's obvious to me that the Metatrader server features are overly simplistic and this plug-in is a standard interface that allows the broker to tame a sometimes illiquid market. This IS a "market maker" model remember. Your orders don't have to find an opposite participant like you would in the real world.

Really people, read every one of those features again and if you look at it unbiased they totally make sense.

The delay one sucks, but I guess our job is to find a dealer who sets this to a value that is as low as possible.

,Bundy
Then why are MT4 posts being deleted when questions are ask regarding this feature?
Same Whore .... Different Dress
  • #65
  • Feb 18, 2008 7:19pm Feb 18, 2008 7:19pm
Quoting Micro-MiniMe
All I asked was, "What is the Virtual Dealer plugin used for? MAny pepople want to know."
So you were also banned for asking a simple question.
In the light of this, may be you should reconsider your post above to Burgerking.
  • #66
  • Edited 8:03pm Feb 18, 2008 7:28pm | Edited 8:03pm
Quoting Micro-MiniMe
What a surprise!
BurgerKing (AKA News Trading Junkie) hounds MetaQuotes.net for ways to exploit News spikes even though MetaQuotes Dealers have made it Crystal Clear that they don't like News Traders.
Though I still trade news, news trading ISNT the only skill I have. News trading is what I called "bonus" trades if brokers fill or not.

I am a programmer by profession and training and I program MQL scripts for several clients. THAT thread you are referring at MQL forum is not about "News trading". I run/host several EAs for myself and clients and thats one of the reason why funds are located on many brokers.

Oh, so you think I was writing a script that monitors price delays between MT4 brokers for news trading? LOL! This is not even possible with MT4 with or without the execution delay.

Quote
When asked why BurgerKing wants to set up a feed to multiple MQ brokers, BurgerKing replies, "because there are so many MQ brokers who are cheats and will steal your money."
And yes, I've seen brokers flag bigger accounts. When I have a small account at UGM, execution was good. When i added funds (doing my carry trades), execution dropped considerably. Flagging is not isolated to trading style (like scalping or news trading) but also to account size.

I diversify my money on several brokers. I also manage funds for several clients too. And the need to "centralize" opening/closing positions is a necessity for managing accounts and not for something like news trading.


Quote
The Virtual Dealers plugin was just used in 2007 for the MetaQuotes trading competition. DUH! It seams to me that many bucket shop (non-MQ) are upset because MQ is taking the easy nwebie bucks out of their sleezy business model. Can I have another DUH?

BK, go back to your ECN and seek the easy, sleezy newstrading strategy. I, for one don't need your phonnie-balonnie, flame broiled news fantasies!

Real Trading requires a Real Trading Strategy!
DUH sounds like you are intelligent indeed.

Sorry mini if you think its sleezy or that I am bashing on MT4 brokers but
facts are facts. Go back to ECN? I am with some ECN since last year. Real Trading Strategy includes among other things scalping like all ECN brokers allows. So how come MT4 brokers dont allow a real trading strategy then?

Maybe because, these MT4 brokers are not real brokers at all.

Of course there are many Legit, Honorable MT4 brokers out there, but knowing which one, you have to put money in them.




ADDENDUM:

Though it appears that this Plugin is to thwart News Trading, it is meant to screw your normal trading strategy as well. Execution Delay can affect normal trading. Keep an open mind! People who trade with LIMIT/STOP ORDERS and SL, TP, will be affected through Slippage - check the VD document.
  • #67
  • Feb 18, 2008 11:06pm Feb 18, 2008 11:06pm
Quoting PipStar
So you were also banned for asking a simple question.
In the light of this, may be you should reconsider your post above to Burgerking.
OK. I went over the top with my comments about BurgerKing. He was obviously speaking from the viewpoint of a professional trader who manages large accounts and is being stalked by his brokers.

I really am sorry BK. I became very defensive because the tone of the conversation was moving quickly toward advising people to get ready to pull funds out of their MQL brokered accounts.

Why did I get banned for asking a simple question, yet you are still a member in good standing? They must value your input and see me as an over aggressive newbie. I had one question about indicators posted for hours, but within minutes after the question about VD plugin, I was banned. Have you asked them point blank what the VD plugin is?
  • #68
  • Feb 19, 2008 2:01am Feb 19, 2008 2:01am
Hey BK, do you know whether the upcoming MT4 ECN's will utilise this plug-in?
  • #69
  • Edited 3:46am Feb 19, 2008 3:26am | Edited 3:46am
I am really glad that this has made its way around the net. When I found this info I was shocked. I am glad that this is coming out. MT4's system is just plain wrong and everyone should know how they and the brokers using this sofware are treating traders.

If you want to do something about this... post that image to other websites like BK has done... here is the link
http://i260.photobucket.com/albums/i...ualDealer1.jpg

Here is another one...
http://i260.photobucket.com/albums/i...ualDealer2.jpg

We decide what brokers make money by giving them our business.

Thanks,
qtmspin
  • #70
  • Feb 19, 2008 4:23am Feb 19, 2008 4:23am
I have not visited this forum for some time now, and upon skimming the hords of posts this one in particular interested me. First of all understand that the language of the Boston Technologies is geared towards the broker/dealer marketing scheme, Henc the average layperson i.e. retail trader will read into the wording of the posted images in question in a biased , most defensive position. Ehat is being offered via software is full permissable and legal for the OTC market were speaking of. (spot FX). It's all about risk and the hedgeing of the risk factor. Not unlike any trader would factor in a personal trading system/setup. The problem here is the constant inability to accept the facts. True brokers are capable and most probably do so catch a quick buc to the sly, but within the confines of the agreed layout of the traders playing field as designed. Just as you too scalp the brokers pocket with a quick in and out 1-5 pip gain... So simply I say to you all worry not about what you can not actually see nor control, but put all that effort into your trading and you will soon find that you have been fully capable of being profitable all the time you have been wasting worrying about why, what, when and all the likes of that can not change.

Get some education on simply how it works from the other end and concern yourself not with the risk the brokers eagerly accpet allowing you the great opportunity to profit. Just focus on being profitable

2 small pdf's attached...

Anthony 4xstrategy.com
Attached File(s)
File Type: zip Get A Grip!.zip   158 KB | 1,782 downloads
"Look Left Think Right"
  • #71
  • Feb 19, 2008 4:50am Feb 19, 2008 4:50am
Quoting CurrencyAnalyst
Get some education on simply how it works from the other end and concern yourself not with the risk the brokers eagerly accpet allowing you the great opportunity to profit. Just focus on being profitable

Anthony 4xstrategy.com
hear...hear...

Mind if ask? Do any of you guys have withdraw your account from your current MT4 broker, or planning to do so before this week ends, because of this information? Or you just NAYOs---No Action Yell Only?

Because, tell you the truth, this thread scared the bejesus out of me! But if you all MT4 cons in reality are only NAYOs... phews, think I just mistaken this thread for The Ring 2 rerun.

Thank God.
  • #72
  • Feb 19, 2008 5:25am Feb 19, 2008 5:25am
Yes, I did withdrawn from one broker which I use for scalping and will forward that money to my ECN account instead.

I still do have active MT4 brokers as of this writing. However, my strategies (EAs) on these are immune to, or can tolerate, to a certain extent, execution delays and slippage.
  • #73
  • Feb 19, 2008 6:24am Feb 19, 2008 6:24am
No ZEN ... we will not be closing our account with Ikon-Royal (MT4 Broker)
WE haven traded and trusted this broker aka Royal fx for 2 years now.
Don't let the common herd panic mentality among this type of thread post that just goes on and on until most of the mutiposters find a new toy to complain about.
"Look Left Think Right"
  • #74
  • Feb 19, 2008 6:31am Feb 19, 2008 6:31am
Quoting CurrencyAnalyst
No ZEN ... we will not be closing our account with Ikon-Royal (MT4 Broker)
WE haven traded and trusted this broker aka Royal fx for 2 years now.
Don't let the common herd panic mentality among this type of thread post that just goes on and on until most of the mutiposters find a new toy to complain about.
Thanks for the spam for your web site and for your dealer. sheeze I guess no one will be just up front and honest will they?
  • #75
  • Feb 19, 2008 6:34am Feb 19, 2008 6:34am
Quoting CurrencyAnalyst
I have not visited this forum for some time now, and upon skimming the hords of posts this one in particular interested me. First of all understand that the language of the Boston Technologies is geared towards the broker/dealer marketing scheme, Henc the average layperson i.e. retail trader will read into the wording of the posted images in question in a biased , most defensive position. Ehat is being offered via software is full permissable and legal for the OTC market were speaking of. (spot FX). It's all about risk and the hedgeing of the risk factor. Not unlike any trader would factor in a personal trading system/setup. The problem here is the constant inability to accept the facts. True brokers are capable and most probably do so catch a quick buc to the sly, but within the confines of the agreed layout of the traders playing field as designed. Just as you too scalp the brokers pocket with a quick in and out 1-5 pip gain... So simply I say to you all worry not about what you can not actually see nor control, but put all that effort into your trading and you will soon find that you have been fully capable of being profitable all the time you have been wasting worrying about why, what, when and all the likes of that can not change.

Get some education on simply how it works from the other end and concern yourself not with the risk the brokers eagerly accpet allowing you the great opportunity to profit. Just focus on being profitable

2 small pdf's attached...

Anthony 4xstrategy.com
This is a copy in case you attempt to change it.
  • #76
  • Feb 19, 2008 6:47am Feb 19, 2008 6:47am
I have nothing to offer you people other than mostly positive responses to your negative inquiries. Read the print on my site I am not compensated by the aforementioned broker. The broker was mentioned to allow Zen to reolize a named mt4 broker. If you guys are afraid of trading this most dangerous market I suggesest you exit now and fold your accounts up. No matter what all in all the hidden dangers will and do lurk around every shadow. I too in a distant past was a problem hunter, spending countless hours looking for ways I thought the brokers were trying to scam me (us).
along with the seemingly endless search for a new system just about every day! I don't do any of that anymore, and you know what I started making money once I got over the shuck and jive of the constant hunt for what could be wrong and the ever tweaking of the setups, systems, etc.

And for those of you that just don't get it....... Here is your soon in the near future way to trade the Spot Fx on... A Regulated ECN.... yes I say a spot fx ecn run by the Chicag Board of Trade CME...
.........USFE.COM....... & http://www.usfe.com/livesef/

This should give you guys a whole new thread to tear into.
"Look Left Think Right"
  • #77
  • Feb 19, 2008 7:19am Feb 19, 2008 7:19am
I will not be replying to this thread any further as the context of it's origin has seemingly become disoriented as some of the regulars here are now more interested in attacking some of the posters regarding nothing at all to do with the original concept of MT4 Virtual Plugins etc.
I myself have created a new thread under fx discussions pertaining to the new Regulated Spot opportunity "Spot Fx Equivalents..." Via the CME ( Chicago Board Of Trade ) For those of you that may have an interest. This market is brand new this year... i.e. last month. Volume is nill to none as it needs traders. As this very thread indicates the sheer paranoia of the hidden broker side dangers, I truly think many of you may find surenity in this new market concept.

I bid you all well on your continued arguments over who wants to close the MT4 Broker accounts and run for the hills.
P.S. BurkerKing I feel you man, don't let the hillbillies get to ya. You know what your doing with your plugs and ea's. and that's all that matters.

OUT....
"Look Left Think Right"
  • #78
  • Feb 19, 2008 9:37am Feb 19, 2008 9:37am
Quoting smjones
Well, when you think about it, the very most damning thing they could do is lie about it in a written response. That would be like a golden ticket for a complaint. In that case, I would file a complaint with my Atty General's office and the CFTC, because then it is a criminal case, for fraud. I would be sure to win.
this plug-in info looks like the smoking gun needed for a class action suit, which would put the mt4 dealers out of business for good. probably get full cftc support.

any mt4 dealers left would be injuncted against dealer intervention and have to become true brokers with real stp.

these plug-ins have dials that the dealer can turn up or down. i've noticed in the past couple of months that the dials have been turned up, probably to get as much profit as possible before the new legislation affects them this summer.

might be best not to make any mt4 trades until things settle down.
realize the universe is one thing, and attach it to your body
  • #79
  • Feb 19, 2008 9:52am Feb 19, 2008 9:52am
Quoting CurrencyAnalyst
I myself have created a new thread under fx discussions pertaining to the new Regulated Spot opportunity "Spot Fx Equivalents..." Via the CME ( Chicago Board Of Trade ) For those of you that may have an interest.
I was under the impression the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (CME) were different entities.
  • #80
  • Feb 19, 2008 9:53am Feb 19, 2008 9:53am
They are......
Same Whore .... Different Dress
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