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MT4 Brokers' Virtual Dealer Plug-In

  • #321
  • Oct 25, 2008 5:04am Oct 25, 2008 5:04am
I don't browse this forum much anymore simply because it parallels Seinfeld mentality. Complain, More complaints and whimpers... Listen all you fellow and would be traders. Focus on your trading. Trading again I say trading. Every market out there has some form of manipulative factors, some more-so obvious than others. I have traded with Just about every Spot Fx broker mainstream. They all every one of them will and do have moments of unfavorable conditions that your usually unaware of until after the fact.
I make money in this market, I also do Just as well In the Futures market at the same time..... It does not matter what broker you are with if they are registered then they are within the limits of executable parameters, other than the random odd-ball that goes rogue. Use of indicators is also probably the most useless thing over time as well. IT'S ALL IN THE CHARTS , entry /exit execution is and always will be the most expressive part of the transaction all - in- all....

Anthony
"Look Left Think Right"
  • #322
  • Oct 25, 2008 5:55am Oct 25, 2008 5:55am
Quoting fxtrader42
What makes a retail trader is not the size of the account or how or who he trades with. It is his understanding of the market itself. How it works, what governs it, what its participants do, who they are and why they participate. Most that trade this market can figure out one of those certain criterias but not all. Know all of the above and have quality risk management and I you could consider yourself no longer a novice trader. If you have all of that down and still dont make money it means you dont have the personality for trading. IMO

The thing that perplexes me is how many fx traders close out positions intra-day. Fx provides some of the strongest long-term trends of any market out there. While fundamental analysis is tricky to perform due to the number of variables involved, the fact that this market is driven by so many factors makes it very hard for any single event to reverse a long term trend. There is a reason why most fx hedge funds are position traders.
  • #323
  • Oct 26, 2008 12:48am Oct 26, 2008 12:48am
Quoting fxtrader42
What makes a retail trader is not the size of the account or how or who he trades with. It is his understanding of the market itself. How it works, what governs it, what its participants do, who they are and why they participate. Most that trade this market can figure out one of those certain criterias but not all. Know all of the above and have quality risk management and I you could consider yourself no longer a novice trader. If you have all of that down and still dont make money it means you dont have the personality for trading. IMO
http://en.wikipedia.org/wiki/Gambler%27s_ruin
  • #324
  • Nov 15, 2008 5:03pm Nov 15, 2008 5:03pm
I am thinking about using Oanda as my broker and want to know if they are safe to go with, in regards to the topic of this thread. Is Oanda a MT4 broker?
"Trading is a mental sport." - Ziad Masri
  • #325
  • Nov 15, 2008 5:17pm Nov 15, 2008 5:17pm
Quoting Quickdraw
I am thinking about using Oanda as my broker and want to know if they are safe to go with, in regards to the topic of this thread. Is Oanda a MT4 broker?
No. They have their own Java client. I suggest you to learn it by using first demo account. Its good enough. Another plus is, it works on any OS supporting Java(unix,linux,windows,osx..) Oanda is good because you can limit your risk very precise with flexible unit sizes.

Btw, price action is all what matters anyways, not the countless useless indicators IMHO
  • #326
  • Nov 15, 2008 10:39pm Nov 15, 2008 10:39pm
Hai all fx friend, i want your opinion exprience about this GFT broker whether this broker can i believe ?
  • #327
  • Nov 16, 2008 7:51pm Nov 16, 2008 7:51pm
We have used them on and over over the past 5 + years and time after time we experience the same platform drama. Our last attempt to trade with them was on their Futures side, they actually use the dealbook 360 platform for that as well. We found that the execution did not not always match the exchange price feed,(CME) and to boot the execution was slow strangely, we trade Futures with using navigator with another broker and order entry was/is lightning fast... Now remeber this is on a regulated exchange. But with Gft Futrures it had the same Trade execution entry/exit delay as the Spot side does??? Sorta like the delay you get with Metatrader 90% of the time.. I had contacted them and techincaly explained this to the account rep I worked with he acted like a dumbfounded idioit.... And ignored the situation. Needless to say Trade with them at your own risk Liteally !!! P.S. I also have sources from inside contacts that bluntely say: Quote ::: "Don't Trae With GFT..." All the eye candy plaform and website Jargon is there for a lure...
"Look Left Think Right"
  • #328
  • Nov 16, 2008 8:00pm Nov 16, 2008 8:00pm
Quoting Quickdraw
I am thinking about using Oanda as my broker and want to know if they are safe to go with, in regards to the topic of this thread. Is Oanda a MT4 broker?
I use Oanda personally They are the best execution broker I have seen in more than 5 Years. Margin is a bit heavy for small account size traders, but well worth it if you have the available capital. And you set the contract size every trade.. No Platform to install, The Java Web applet is very sturdy...
"Look Left Think Right"
  • #329
  • Nov 16, 2008 8:01pm Nov 16, 2008 8:01pm
Why is GFT's order execution slow?

When I traded there 2 years ago, I was told by GFT rep that their servers are slower than humans (more accurate, their dealers can execution thousands of orders far faster than machines WOW! They hired Flash?) - thus they have to perform the orders manually which ends up me waiting for 3-5 minutes for an order to be executed!

Needless to say, either they want to screw all the clients with Dealer intervention (so you get the worse price - they are a market maker who is the direct counterparty to all our positions); or they are using antiquated machines. Take your Pick. I gave them the benefit of the doubt and picked #2. (sarcasm)

Either way, it is bad so I left them for good.
  • #330
  • Nov 17, 2008 7:04am Nov 17, 2008 7:04am
Thank you for the information you all save my money & time
  • #331
  • Nov 18, 2008 7:26pm Nov 18, 2008 7:26pm
He made too much money so his broker kept it all! No wonder brokers get such a bad name! This is unbelievable and I want all of you to read this and know who this Broker is that pulled this . Can Brokers really get away with this theft? Yes they can!!! IMO

http://www.forexpeacearmy.com/forex-...-kept-all.html
  • #332
  • Nov 30, 2008 3:11am Nov 30, 2008 3:11am
Hmmmmm

Well, there goes my account with ODL Japan.......!
I have noticed chart freezes and spikes not seen on Java platforms.
Never got caught by them but I am not taking any more chances after reading this thread.

Are there any Java platforms that one can convert MT4 templates and indicators on?

Failing that are there any good Java platforms.
Starting to see instead of just looking.
  • #333
  • Jan 10, 2009 9:59am Jan 10, 2009 9:59am
interesting...may be a good idea to keep the thread fresh in everyone's minds...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #334
  • Jan 23, 2009 2:25pm Jan 23, 2009 2:25pm
Quoting coscorp
interesting...may be a good idea to keep the thread fresh in everyone's minds...
I agree. It's really a shame...
  • #335
  • Jan 27, 2009 1:43am Jan 27, 2009 1:43am
mark...........
Have a good day!
  • #336
  • Jan 30, 2009 2:31am Jan 30, 2009 2:31am
The best and most obvious thing to do is abandon Spot Fx or any other OTC product... We did!!! Only Exchange Regulated Futures Contracts. Same hours and almost the same margin. Several good broker options out there.


"If a blind man could read charts with his ears, and another could smell the future by golly we could have the makings of the Holy Grail in progress..."
"Look Left Think Right"
  • #337
  • Jan 30, 2009 3:46am Jan 30, 2009 3:46am
I like the charting provided by metatrader. I have the mobile version too. However, I would never trade thru that platform.

The answer is just use Metatrader for charting and not for trading

Then it is costing the broker money to provide you with the charting and data feed.
If it's too good to be true, it probably is.
  • #338
  • Jan 30, 2009 4:51am Jan 30, 2009 4:51am
Hi CurrencyAnalyst,


Quote
The best and most obvious thing to do is abandon Spot Fx or any other OTC product... We did!!! Only Exchange Regulated Futures Contracts. Same hours and almost the same margin. Several good broker options out there.

Do you have any suggestions, I am shopping for my options.


Thankyou for your reply.


Dale
  • #339
  • Jan 30, 2009 10:01am Jan 30, 2009 10:01am
Welcome to the Forex Circus. See and read all the nice posts about forex. Got a question? Ask that man with the huge stuffed tiger. He is a successful spot forex trader. What? Of course he got that tiger by playing the game well. What did you think?
  • #340
  • Jan 30, 2009 9:18pm Jan 30, 2009 9:18pm
Quoting CurrencyAnalyst
The best and most obvious thing to do is abandon Spot Fx or any other OTC product... We did!!! Only Exchange Regulated Futures Contracts. Same hours and almost the same margin. Several good broker options out there.


"If a blind man could read charts with his ears, and another could smell the future by golly we could have the makings of the Holy Grail in progress..."
This guy is right! ALLLLLLLL FOREX IS SCAM! Cant wait for the stock market rebound!
FF = Forex Faggots
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